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Dubai International Chamber supports Dubai companies to enter Senegalese market with more than 150 bilateral business meetings in Dakar

Dubai International Chamber supports Dubai companies to enter Senegalese market with more than 150 bilateral business meetings in Dakar
Published on 4 June 2024

  • Mohammad Ali Rashed Lootah: “The mission aims to explore investment opportunities and promising business partnerships between Dubai’s private sector and new business partners on the African continent.”
  • Minister of Industry and Commerce of the Republic of Senegal: “Dubai is a role model in stimulating foreign investment, supporting the private sector, and developing a legislative environment conducive to business growth and expansion.”
  • Non-oil trade between Dubai and Senegal reached a value of AED 3.4 billion in 2023, achieving year-over-year growth of 17.7%.
  • Dubai Chambers signed a memorandum of understanding with the Dakar Chamber of Commerce, Industry, and Agriculture to enhance cooperation and foster the exchange of knowledge and experience.
  • Top export opportunities to Senegal include mobile devices, electronics, vehicles, wheat, rice, light ships, floating cranes, and bulldozers.

Dubai, UAE – Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully arranged more than 150 business matching meetings between companies from Dubai and Senegal. The meetings took place in Dakar during the first leg of the chamber’s trade mission to Senegal and Morocco as part of the ‘New Horizons’ initiative, which supports the expansion of local companies by connecting them with opportunities in promising global markets.

The trade mission was attended by representatives of companies from Dubai operating across diverse sectors including agriculture and food; beauty and cosmetics; construction, real estate, and retail; construction materials; electronics; energy; environmental solutions; fashion ecommerce; food and beverages; general trading; healthcare and medical supplies; information technology; oil and gas; and supply chain and logistics.

Non-oil trade between Dubai and Senegal reached a value of AED 3.4 billion in 2023 according to Dubai Customs data, achieving year-over-year growth of 17.7%. A total of 60 Senegalese companies were registered as active members of Dubai Chamber of Commerce at the end of Q1 2024.

During his opening remarks at the event, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Dubai is continuing to strengthen its economic ties with countries around the world. Through this trade mission, Dubai International Chamber aims to explore investment opportunities and promising business partnerships between Dubai’s private sector and new business partners on the African continent, and Senegal in particular.”

During a meeting on the sidelines of the forum, His Excellency Dr. Serigne Gueye Diop, Minister of Industry and Commerce of the Republic of Senegal, emphasised that Dubai is a role model in stimulating foreign investment, supporting the private sector, and developing a legislative environment conducive to business growth and expansion. His Excellency stated that the numerous successes achieved by Dubai serve as a source of inspiration for Senegal to accelerate its own comprehensive economic development process.

As part of the roadshow, Dubai Chambers signed a memorandum of understanding with the Dakar Chamber of Commerce, Industry and Agriculture. The agreement is aimed at strengthening cooperation and partnership in organising events, trade missions, exhibitions and conferences, as well as exchanging knowledge and experience and promoting mutual investments between the business communities in Dubai and Senegal.

The first day of the roadshow featured a special business forum titled ‘Doing Business with Senegal,’ which was organised by Dubai International Chamber with the support of the UAE Embassy in Dakar, the National Union of Chambers of Commerce, Industry and Agriculture of Senegal, the Chamber of Commerce, Industry and Agriculture of Dakar, in addition to the National Agency for Investment Promotion and Major Projects of Senegal and the Senegalese Export Promotion Agency. The event attracted a total of 247 participants, including senior figures from the Senegalese government, business leaders, and local companies interested in exploring potential partnerships with members of the chamber’s delegation.

As part of the business forum, the chamber delivered an informative presentation on Dubai’s trade and economic landscape that highlighted the competitive advantages the emirate offers for Senegalese companies. In addition, an insightful panel discussion featuring experts from prominent economic sectors discussed the opportunities available in the Senegalese market for companies from Dubai, together with valuable guidance for businesses and investors.

This was followed by a series of bilateral business meetings between representatives of companies from Dubai and Senegal, which continued during the second day of the mission.

The chamber has identified a range of promising sectors for exports from Dubai to Senegal including mobile phones, electronics, vehicles, wheat, rice, light vessels, floating cranes, and bulldozers. Key sectors with investment opportunities in Senegal for Dubai-based companies include vehicles and spare parts, construction, renewable energy, agriculture, medical equipment, and the pharmaceutical industry.