UAE and Israeli companies hold 200 business meetings during high-level forum in Dubai

UAE and Israeli companies hold 200 business meetings during high-level forum in Dubai

DUBAI, 1st March, 2022 (WAM) -- Dubai International Chamber, one of the three chambers operating under the restructured Dubai Chambers, today hosted the 'Dubai-Israel: Future Horizons Mission' forum at the headquarters of Dubai Chamber of Commerce, where 200 bilateral business meetings were held between Israeli and UAE companies.

The forum was organised by Dubai International Chamber, the UAE Embassy in Israel and the Tel Aviv Stock Exchange, as part of The Executive Series, a new flagship series of VIP business missions. The event was the focus of a high-level trade mission which was joined by 50 businessmen representing 25 Israeli companies listed in Tel Aviv Stock Exchange.

The event aimed to highlight the vast untapped potential that businesses in Israel and the UAE, as well as existing synergies in key sectors of mutual interest and new business opportunities emerging in both markets. In addition, the forum familiarised Israeli businessmen with Dubai’s economy and business environment.

The visiting Israeli delegation was headed by Ittai Ben-Zeev, CEO of Tel Aviv Stock Exchange (TASE) and joined by Altshuler Shaham, Amos Luzon Dev.& Energy, Beeio Honey, Bezeq, Delek Drilling, Energix, Enlight Enregy, Epitomee, Feat Inv., Glassbox, Group 11, Israel Aerospace, Menara Ventures, Nayax, Nova, Perion Network, Pomvom, Sofwave Medical, Strauss Group, The Phoenix, The Zarasai Group, and Userway.

Addressing participants, Hamad Buamim, President and CEO of Dubai Chambers, said the event and trade mission supports Dubai Chambers’ efforts to build and expand Dubai’s trade and investment ties with Israel, which he described as a market of strategic importance to the emirate.

Israeli companies can offer specialised expertise to UAE companies in the areas of food security, information technology and financial services, said Buamim, who stressed the importance of the Israeli delegation visit, the first trade mission to be organised by Dubai International Chamber under The Executive Series.

He noted that the delegation visit and forum come at a time when Dubai is elevating its position as a global business hub and boosting its value proposition to foreign investors and top companies from around the world as it works towards a new vision for the next 50 years.

In addition, Buamim revealed that Dubai’s non-oil trade with Israel reached nearly AED 2 billion in the first half of 2021, which he says reflects the huge potential between the two business communities. He added that the trade mission would open new doors of opportunity for Israeli companies in Dubai and take economic cooperation to the next level.

During the forum, Mohamed Mahmoud Al Khaja, UAE Ambassador to Israel, said, "I am excited to see Emiratis and Israelis show the world what can be accomplished through the joint efforts of our business sectors. Towards that end we must link our financial institutions, ease financial transactions, the flow of capital and investments to realise the true potential of the two markets working together in unison. By partnering we can increase the competitiveness of companies in both countries and better compete in the international arena."

"Israeli companies are warmly invited to take advantage of opportunities to pilot, grow and build mega-scale projects in and with the help of the UAE’s business sector. As firm believers that peace leads to prosperity, we will help Israel companies open new markets and reach global scale," Al Khaja added.

Ittai Ben-Zeev said, "The unique connection between the Dubai International Chamber, the Embassy of the UAE in Israel and the Tel Aviv Stock Exchange contributes greatly to the realisation of the Abraham Accords and the strengthening of the economic and business ties between the countries. TASE’s mission is to expose leading Israeli public companies to a broad range of investors, and now is the time to also reach out to investors from the Globe’s Eastern hemisphere. The UAE is known for its long-term planning and perspective and I am confident that the combination of Israel’s innovation and advanced industry with the UAE’s far-reaching perspective and vision, will be a great strategic contribution to both countries."

The forum featured workshops and panel discussions covering several high-potential sectors and fields, namely technology and innovation, and financial services and investment, which saw the participation of Mohammed Shael Al Saadi, CEO Strategic Affairs, Department of Economy and Tourism (DET); Faisal Belhoul, Chairman of Ithmar Capital Partners and Founder of Amanat Holdings PJSC; Souad Al Hosani, Director of Investor Care, Abu Dhabi Investment Office; Omar Khan, Director – International Offices, Dubai Chamber of Commerce, Dr. Shimon Eckhouse, Co-Founder and Chairman, Epitomee and Software; Ahmed Al Qassim, Senior Executive Vice President, Group Head, Corporate and Institutional Banking – Emirates NBD; and David Alexander, Deputy CEO for Corporate Holdings and Development at Phoenix Holdings.