The Dubai Chamber of Commerce announced the launch of four new business groups as part of its plans to increase the number of business groups representing economic sectors and activities in the Emirate of Dubai to 100 businesses groups by March 2023, bringing the total number of business groups operating under the umbrella of the Chamber to 45.

The new business groups focus on companies operating in the manufacturing and welding sectors, electrical equipment and contracting cables and wires, and steel and metal trading.

The establishment of new business groups falls within the framework of the Chamber’s endeavors to enhance the private sector’s contribution to the sustainable development process, support the competitiveness of companies operating in the same sector, and improve their economic performance inside and outside the Emirate.

Mohammad Ali Rashid Lootah, Director General of Dubai Chambers, said: “Our goal in forming the latest business groups is to contribute to creating an ideal platform for transparent communication between the main parties in each sector, the accession of members of  Dubai Chamber of Commerce to the new business groups reinforces its commitment to achieving further progress and contributing to supporting the economic development. We will continue to promote constructive dialogue between business groups, Dubai Chambers and relevant government agencies”.

According to the “Trademap” website, in 2021, the United Arab Emirates ranked fifteenth among the largest importers of iron ore (HS 2601) in the world, as it recorded the highest level of imports at a value of $ 1.3 billion in 2021, which represents growth 93% year-on-year.