Dubai International Chamber establishes an office in Cape Town to strengthen trade relations with South Africa.
Fresh Take:
Dubai is expanding its economic horizons, setting up a new rep office in Cape Town - a move to tighten economic knots with South Africa! This strategic step falls under the Dubai Global initiative, designed to accelerate the speed of trade and investments between the two regions.
This new office will serve as a robust platform for South African businesses aiming to break through globally via Dubai's interconnected network. The grand opening ceremony took place at Dubai Chambers' headquarters, graced by Alan Winde, Premier of South Africa's Western Cape Province, and a persuasive delegation of senior officials. The event primarily aimed to escalate cooperation in trade, tourism, and investment.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, highlighted South Africa as a crucial ally with great potential for growth. Winde agreed, emphasizing the importance of international partnerships to stimulate economic growth and job creation within the Western Cape province.
The economic relationship between the UAE (United Arab Emirates) and South Africa has been on an upward trajectory, with exciting developments underway. As per recent reports, non-oil bilateral trade peaked at around AED29 billion in 2024, marking a 20% surge from the year before. South African companies making Dubai Chamber of Commerce their home grew by a staggering 24%, reaching 775 firms by the end of 2024, with an additional 51 joining in the first three months of 2025.
This new office will likely reinforce Dubai's status as a powerful global trade hub, opening doors for mutual growth-enabling opportunities across both regions.
Emirates News Agency reported on these developments.
Enrichment Insights:- The UAE has emerged as a vital economic partner for South Africa, with major exports including diamonds, gold, and citrus.- The UAE has also become the largest foreign direct investor in Africa, investing in African ports, infrastructure, and technology collaborations.- A recent collaboration between South Africa and the UAE involved a partnership to develop a satellite, an exciting leap in space technology.- The opening of the Dubai International Chamber's representative office in Cape Town is anticipated to increase trade and investment, enhance collaborations, and stimulate economic growth in South Africa.
- The new representative office in Cape Town, established by Dubai International Chamber, will foster international partnerships, particularly with South African businesses, aiming to leverage Dubai's interconnected network for global trade and investment.
- The agreement between South Africa and the UAE for joint satellite development signifies an exciting leap in space technology, demonstrating their growing collaborative efforts in technology collaborations and infrastructure development.
- With a surge in non-oil bilateral trade between the UAE and South Africa, reaching AED29 billion in 2024, representing a 20% increase from the previous year, the UAE has become a significant trade partner for South Africa, exporting diamonds, gold, and citrus.
- Dubai's strategic move to open a rep office in Cape Town is expected to bring an increase in trade, investment, and economic growth, positioning Dubai as a powerful global trade hub and further cementing the UAE's role as the largest foreign direct investor in Africa.
