The Dubai Chamber of Commerce has inaugurated its first North American representative office in Toronto, Canada. This significant step underscores the chamber’s dedication to strengthening economic ties and exploring business and investment opportunities between Dubai and Canada.
The opening ceremony featured the participation of Canada’s International Trade Minister, Honorable Mary Ng, and Sultan bin Saeed Al Mansoori, the Chairman of the Dubai Chamber, along with Abdul Rahman Al Neyadi, the UAE Ambassador to Canada, and a gathering of leaders and business representatives from Toronto and across Canada.
This new office is a pivotal element in the “Dubai Global” initiative, which aims to establish 50 international representative offices by 2030. The initiative is designed to enhance Dubai’s role as a leading global business hub, attract foreign direct investment to the emirate, and support the expansion of Dubai-based companies across 30 prioritized global markets.
Sultan bin Saeed Al Mansoori remarked, “The launch of our new office in Toronto marks a significant advancement in the economic collaboration between Dubai and Canada. This office will serve as a strategic platform linking businesses from both sides, facilitating the flow of mutual investments, and opening new channels for bilateral trade. We are also committed to assisting Canadian companies in capitalizing on opportunities in Dubai, which serves as a gateway to various global markets, while empowering Dubai-based firms to explore new prospects in the Canadian market.”
The opening of the Toronto office comes at a time when trade and economic relations between Canada and Dubai are witnessing remarkable growth, with non-oil trade between Dubai and Canada valued at AED 10.2 billion last year. By the end of the previous year, the number of active Canadian companies registered with the Dubai Chamber reached 4,112, marking an annual increase of 29% compared to 2022. In the first quarter of this year alone, 289 new Canadian companies joined the chamber, reflecting the robust economic ties between the two regions.
The Toronto representative office will play a vital role in supporting businesses in both Dubai and Canada, working closely with the Canadian business community to enhance relationships with key stakeholders in both the public and private sectors. It will promote Dubai’s competitive advantages as a global business destination while providing valuable insights about the Dubai market, aiding Canadian companies aiming to establish a presence in the emirate and expand into global markets.
Furthermore, the Toronto office will assist Dubai-based companies planning to expand into Canada by offering them valuable insights into the Canadian market, helping them identify trade and investment opportunities, and connecting them with trusted local partners to facilitate their entry and smooth operational expansion in this market.