Dubai Chamber of Commerce records 69% rise in new members through August

Dubai Chamber of Commerce, one of three chambers operating under Dubai Chambers, has revealed that over 27,100 new companies have joined in the first eight months of 2022.

The new companies marked a 69 per cent year-over-year rise, increasing the total membership to over 314,000. Between January and August 2022, member exports and re-exports increased over 20 per cent year-on-year to total Dhs177bn.

More than 476,000 certificates of origin were issued by the chamber between January and August 2022, recording a growth of 9.8 per cent compared to the same period last year.

At the Dubai Chamber of Commerce, we have seen a surge of 69% in new members during first 8 months of 2022. This further fuels our optimism that the momentum will continue as Dubai Chambers moves forward in achieving its objectives under its 2022-2024 strategy. pic.twitter.com/Fedz9W9Tl6

— Dubai Chamber (@dubaichamber) September 12, 2022

Abdul Aziz Al Ghurair, chairman of Dubai Chambers, noted that the growth reflects the positive impact of Dubai Chambers’ specialised approach to supporting member companies with global expansion and improving ease of doing business in Dubai.

A total of 2,674 ATA Carnets were also issued by the chamber and received by the UAE, equalling Dhs1.33bn in value. ATA Carnets are international customs documents allowing the temporary import of goods for a period of one year imposing without any fees or taxes, a statement said.  Meanwhile, over 642,000 electronic transactions were processed by the chamber, increasing 12.7 per cent year-on-year, following full digital transformation achieved by the chamber.

Dubai Chamber of Commerce achieved Dhs11m in cost savings, conserving one million sheets of paper in 2021, after obtaining the ‘100% Paperless Stamp’ from the Dubai Digital Authority.

Read: Dubai Chamber of Commerce saves Dhs11m with paperless strategy

Earlier this year, legislations to create a new legal framework for Dubai Chambers and their board of directors was approved.

Read: Sheikh Mohammed issues decrees regulating Dubai Chambers

Under the new structure, three chambers of commerce operate under Dubai Chambers, namely Dubai Chamber of Commerce, Dubai International Chamber and Dubai Chamber of Digital Economy.

Last month Dubai Chambers announced that its president and CEO, Hamad Buamim, will step down after 16 years of service.

Read: Hamad Buamim to step down as president and CEO of Dubai Chambers