Dubai: Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, announced that direct Thai investments in the Emirate of Dubai have reached approximately $626 million over the past five years.
According to Emirates News Agency, Lootah expressed optimism that these figures will continue to grow, supported by ongoing efforts to strengthen economic relations between Dubai and Thailand. This includes the recent opening of a new Dubai International Chamber representative office in the Thai capital, Bangkok.
In statements during the 'Doing Business with Thailand' forum on May 29, part of Dubai Chambers' trade mission to the Philippines and Thailand, Lootah stated that the new office is part of the Dubai Chamber of Commerce's 'New Horizons' trade mission to Southeast Asia. He described it as a strategic move to enhance the UAE business community's presence in the Thai market and to expand trade and investment opportunities with this dynamic economy.
Lootah highlighted that Thailand is among Dubai's leading trading partners in the ASEAN region. 'Through this on-ground presence, we aim to deepen ties with the private sector and strengthen collaboration between the two sides,' he said.
He also noted a significant increase in non-oil trade between Dubai and Thailand in recent years, which grew by 23% to $6.5 billion in 2024, up from approximately $5.3 billion in 2023. This reflects the growing momentum in bilateral economic ties and underlines the strategic importance of the Thai market within Dubai Chambers' global expansion plans.
The launch of the Bangkok office coincided with the trade mission and included 20 Emirati companies, which were introduced to Thailand's investment environment and market opportunities. The aim was to boost commercial ties and support the international expansion plans of UAE businesses.
Lootah emphasized that the Bangkok office is the latest addition to Dubai Chambers' expanding network of international offices. This aligns with the chamber's strategy to open 50 representative offices worldwide by 2030, which is intended to support Dubai's goals of broadening its foreign trade and cementing its position as a global hub for commerce and investment.
He also reaffirmed Dubai Chambers' commitment to enabling local companies to access global markets and forge strategic partnerships that align with Dubai's economic vision, supporting the sustainability and growth of its key sectors.