Dubai Chambers has highlighted the important role played by the emirate’s private sector in enhancing global trade and shed light on Dubai’s pioneering model for strengthening international trade relations during its participation at the 13th World Chambers Congress in Geneva, Switzerland.
Organised by the Geneva Chamber of Commerce, Industry, and Services in cooperation with the International Chamber of Commerce (ICC) and its World Chambers Federation (WCF), the event is taking place from 21 – 23 June under the theme ‘Achieving Peace and Prosperity through Multilateralism.’
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, shared valuable insights during a panel discussion titled ‘Facilitating Trade: Partnering for Global Growth.’
He underlined the importance of involving the private sector in developing legal and legislative policies that affect their business activities and promote global trade, stating that strategic partnerships between the public and private sectors are key for activating and strengthening global trade.
Lootah also emphasised the vital role of technology in restructuring global trade processes and systems, describing digitalisation and smart transformation as key drivers for the growth of micro, small, and medium-sized enterprises (MSMEs). He stated: “Digitalisation must be adopted across all traditional economic sectors – including trade – to enhance efficiency, quality, and speed of service.”
Lootah cited the establishment of Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, to leverage opportunities and advance the emirate’s transformation into a global capital of digital economy.
The Dubai Chambers PCEO also addressed some of the challenges facing MSMEs engaging in international trade.
These included variations in policies and legislations between different countries, lack of resources, the absence of accurate information on the latest opportunities, and the rise of protectionist policies in some markets, all of which impact the ability of smaller companies to conduct their business activities.
In addition, Lootah shed light on Dubai International Chamber’s important role in supporting cross-border trade through the partnerships it forges in global markets and its network of trade relations with countries around the world.
The Dubai Chambers pavilion attracted widespread attendance during the first day of the event, and enabled visitors to learn more about the various services, initiatives, and projects provided by the three chambers operating under the umbrella of Dubai Chambers: Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy.
As part of the event, the Dubai Chambers delegation held a series of meetings and discussions with representatives of participating chambers from around the world.
Delegates discussed strategies to enhance cross-border cooperation, strengthen partnerships, and increase coordination on the private sector’s role in supporting the local and global business communities, as well as expand economic partnerships and trade exchanges worldwide.
The World Chambers Congress offers a unique platform for thought leadership, bringing together chambers of commerce and members of the business community from around the world to collaborate, exchange best practices, expand global networks, and discuss pressing international trade issues.
The 13th edition of the Congress brought together 1,500 leaders and representatives of chambers of commerce from 120 countries.
Dubai Chambers showcased the Chamber Model Innovation (CMI) framework during the event, which is designed to accelerate innovation in chambers of commerce around the world.
CMI serves as a reliable reference for chambers, enabling them to not only adapt to rapid developments, but also become more agile and proactive in meeting their members’ needs.
The system was previously presented to chamber leaders and officials during the 12th edition of the event, which was held in Dubai in 2021.
The CMI framework has since been adopted as one of the main categories of the World Chambers Competition, which now features an award for ‘Best Chamber Model Innovation project.
The competition has emerged as an integral component of the World Chambers Congress and is the only global awards programme honouring innovative projects presented by chambers of commerce around the world.