The number of companies from the Association of Southeast Asian Nations (ASEAN) registered with the Dubai Chamber of Commerce and Industry have increased by 35.5% since 2018, as per an announcement made by Dubai Chamber Chairman H.E. Abdulaziz Al Ghurair at the inaugural Global Business Forum (GBF) ASEAN, which launched at Expo 2020 Dubai today.

As the latest addition to Dubai Chamber’s Global Business Forum series, GBF ASEAN aims to foster trade and dialogue between business leaders in Dubai and the ASEAN region. In his keynote address for the event, Al Ghurair noted that there are now a total of 3,300 ASEAN companies registered with Dubai Chamber, with all signs pointing to the figure only set to increase in the future.

According to him, in the wake of the COVID-19 crisis, there is a potential for more trade and investment initiatives with the 10 member countries of the ASEAN region. “Dubai-ASEAN non-oil trade in the last five years reached around US$110 billion, yet there is huge potential to expand bilateral trade further and tap into existing synergies,” he said. “In order for this to happen, we must work together to remove trade barriers, facilitate ease of doing business and identify new areas where we can align our ambitions.”

Al Ghurair also pointed out how initiatives like the World Logistics Passport, a program launched by the Dubai Government at the World Economic Forum in Switzerland last year, can help in optimizing the flow of global trade and increasing market access. “I call on ASEAN countries that have not yet joined the World Logistics Passport to do so, and to utilize this network to expand trade links and boost their global profile and reach,” he said.