The Dubai Chamber of Commerce has announced the creation of new sector-specific business groups for Agribusiness and Flower Traders as part of its plan to expand the number of sector-specific trade support groups to 100 by March 2023. These groups aim to encourage greater cooperation, mutual knowledge sharing, and a greater understanding of the synergies between competitors in each sector in terms of domestic, regional, and international trading opportunities.
Agribusiness plays a vital role in the economic mix as Dubai strives to increase food security and reduce reliance on imports. The UAE currently imports around 85% of the food it consumes. With this enterprising farming and tourism zone opening, the sector may become the most prominent ‘agritourism’ destination by 2030. This new sector-specific business group aims to support the development and evolution of the agribusiness sector in Dubai by bringing together key players in the industry and promoting greater collaboration and knowledge sharing.
Flower traders in Dubai also stand to benefit from the formation of this new sector-specific business group. Dubai’s flower trade has a total value of AED1.5 billion between 2011 and 2021. The Dubai Flower Centre (a dedicated free zone within Dubai International Airport) brings cost advantages to international shippers, connecting more than 60 countries worldwide. In addition, the new sector-specific business group will support flower traders by providing a platform for them to share knowledge, network, and explore new business opportunities.
The Dubai Chamber of Commerce added that forming these new sector-specific business groups for Agribusiness and Flower Traders by the Dubai Chamber of Commerce is a step in the right direction towards achieving greater cooperation, mutual knowledge sharing, and understanding of synergies between competitors in each sector. These groups will also play a key role in supporting the growth and development of these vital industries in Dubai.
Image provided by Dubai Chamber of Commerce