DUBAI: Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, announced a significant milestone in the economic relations between Dubai and Thailand, highlighting that direct Thai investments in Dubai have reached approximately $626 million over the past five years.
The achievement not only underscores the robust ties between the two regions but also signals a promising trajectory for future economic collaboration.
Lootah expressed confidence that these investment figures are poised to grow, driven by concerted efforts to deepen economic relations. A pivotal element in this strategy is the recent inauguration of the Dubai International Chamber’s representative office in Bangkok, Thailand’s vibrant capital.
This move was revealed during the ‘Doing Business with Thailand’ forum held on May 29th, a key event within Dubai Chambers’ strategic trade mission to Southeast Asia, which also covers the Philippines. The Bangkok office is part of the broader ‘New Horizons’ initiative, aimed at expanding Dubai’s trade footprint in the ASEAN region.
The establishment of the Bangkok office represents a strategic and timely decision to bolster the UAE business community’s engagement with the Thai market. Lootah emphasised that Thailand stands as one of Dubai’s principal trading partners in the ASEAN bloc, reflecting the city’s ambition to tap into Thailand’s dynamic economy.
This on-ground presence is intended to foster closer interactions with Thai private sector stakeholders and enhance bilateral cooperation, thereby opening new avenues for trade and investment.
Strengthening commercial ties
Trade between Dubai and Thailand has witnessed notable growth, particularly in the non-oil sector, which surged by 23 per cent to reach $6.5 billion in 2024, up from $5.3 billion in 2023. This sharp increase illustrates the growing momentum in economic exchanges and reinforces the strategic significance of the Thai market within Dubai Chambers’ global expansion plans. The launch of the Bangkok office coincided with a trade mission that featured 20 Emirati companies.
These enterprises were introduced to Thailand’s investment landscape and market prospects, with the goal of strengthening commercial ties and facilitating the internationalisation ambitions of UAE businesses.
Furthermore, Lootah highlighted that the Bangkok office is a key addition to Dubai Chambers’ expanding global network of representative offices. This expansion aligns with the chamber’s ambitious strategy to establish 50 such offices worldwide by 2030.
Through this extensive network, Dubai aims to broaden its foreign trade capabilities and solidify its status as a global hub for commerce and investment.
