Dubai [UAE], May 27 (ANI/WAM): Dubai Chambers has welcomed a delegation of 60 companies from Madagascar to explore investment opportunities and potential business partnerships during the Dubai-Madagascar Business Forum, which was held today at its headquarters.
The event reaffirmed the significance of strengthening economic ties between Dubai and Madagascar and focused on advancing cooperation across high-potential trade and investment sectors.
The forum was held in the presence of Andry Rajoelina, President of the Republic of Madagascar, who led a high-level delegation featuring ministers, senior government officials, and business leaders from Malagasy enterprises.
The delegation was received by Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, together with representatives from Dubai's private sector.
In his keynote address, President Rajoelina praised Dubai's remarkable global economic status and reaffirmed his country's interest in deepening bilateral relations across several priority sectors.
During his welcome address at the forum, Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, stated, "The steady growth in economic ties between Dubai and Madagascar reflects our shared commitment to strengthening bilateral partnerships and exploring new opportunities for impactful cooperation that support sustainable economic growth. The launch of Emirates Airlines' direct service to Antananarivo, Madagascar's capital, in September 2024 marked a significant milestone in boosting bilateral trade, tourism, and collaboration."
Al Mansoori added, "Dubai's non-oil trade with Madagascar increased by 90 per cent during 2024, growing from AED 692 million in 2023 to reach AED 1.3 billion. This significant leap reflects the expanding momentum of bilateral economic relations. We are committed to providing comprehensive support to develop relationships and partnerships between the business communities in Dubai and Madagascar, highlighting ways to capitalise on promising opportunities within vital sectors of mutual interest."
During the forum, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, delivered a comprehensive presentation outlining promising sectors for bilateral investment and trade collaboration. Lootah highlighted key investment opportunities available in Dubai for businesses and investors from Madagascar across key sectors including tourism, entertainment, logistics, real estate, information technology, and financial services. (ANI/WAM)
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