Monday 20 September 2021 - 12:08:28 pm

Dubai Chamber discusses investment opportunities with Principality of Monaco

DUBAI, 29th March, 2021 (WAM) -- Dubai Chamber of Commerce discussed today at its headquarters the bilateral economic ties and investment opportunities with Pierre Dartout, Minister of State in the Principality of Monaco.

The dignitary was head of a delegation from the European principality that arrived in Dubai to explore opportunities of mutual benefit and to enhance bilateral relations as the city moves towards Expo 2020 in October.

On the table throughout the visit was how to best enhance business and trade between Dubai and Monaco, particularly as the two communities share several synergies, the most visible being their luxury environments and their hosting of a large number of high net-worth individuals.

"We were delighted and honoured to welcome the delegation from the Principality of Monaco to explore areas of mutual interest between Monaco and Dubai, especially as we share so many synergies," said Abdul Aziz Al Ghurair, Chairman of Dubai Chamber of Commerce.

"This visit builds on the strategic bonds we have progressively nurtured over the years, the most recent resulting from the visit of His Highness Prince Albert II of Monaco to Dubai in November 2018, which was instrumental in building new bridges between our business communities and which saw an MoU signed between the Monaco Economic Board and Dubai Chamber," he added.

He added," Monaco stands to benefit by joining the World Logistics Passport (WLP), the first-ever global freight loyalty programme launched under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to increase opportunities for trade between emerging markets. The World Logistics Passport reinforces Dubai’s growing status as a major global hub for multimodal trade while connecting other nations with similar aspirations to drive global trade and economic recovery."

During the meeting, Pierre Dartout pointed out that Dubai is seen as a successful case study for the world to learn from in terms of speedy development.

"Dubai is a leading global destination for doing business and it offers an inspiring model in supporting the business community," he said.

"We are extremely keen to cooperate with Dubai Chamber, which is the official partner of the Expo2020, to expand our network of relations around the world," he added.


WAM/Tariq alfaham