The Dubai Chamber of Commerce, operating under the umbrella of Dubai Chambers, has concluded a high-level trade mission to Georgia and Armenia, aimed at strengthening bilateral trade and investment relations. As part of the mission’s agenda, the Chamber hosted a business forum in Yerevan titled “Doing Business with Armenia” highlighting Dubai’s growing interest in Armenia’s evolving business landscape and its potential as a gateway to Eurasian markets.
The event, which brought together leading companies, government officials, and entrepreneurs, was described as “a strong beginning for deeper commercial collaboration” by Salem Al Shamsi, Executive Vice President of International Relations at Dubai Chambers, in an interview with NEWS.am.
Robust Participation as a Positive Indicator
The trade mission drew strong participation from both sides, signaling a renewed momentum in Armenia-Dubai business relations. According to Salem Al Shamsi, Executive Vice President of International Relations at Dubai Chambers, the engagement exceeded expectations from the very first day.
“We were warmly received by our stakeholders here in Armenia,” Al Shamsi said. “The B2B meetings have been highly productive, and the numbers I’ve seen from businesses attending the meetings are promising. We’re not just focused on this event itself, but on what comes next.”
Strengthening Bilateral Trade
Al Shamsi noted that Dubai Chambers views Armenia as a strategic partner in the region and sees potential to balance current trade flows.
“We usually say there is a trade imbalance in favor of Armenia. We would like to see stronger trade inflows in both directions,” he explained. “This mission is an opportunity for us to better understand Armenia’s business environment, explore what it offers, and identify sectors where collaboration can flourish.”
During the visit, the Dubai delegation met with senior officials from the Ministry of Economy, the Chamber of Commerce and Industry of Armenia, and other stakeholders to discuss joint initiatives aimed at expanding commercial cooperation and investment.
“So, the focus is on creating shared goals between us, so we can achieve them while also exploring ways to support both the business communities in Armenia and Dubai.”
Diverse Delegation and Global Reach
The Dubai Chambers delegation comprised representatives from 16 companies across nine sectors, including pharmaceuticals, food and beverage, and printing.
“This is a study mission,” Al Shamsi explained. “The participating companies will return to Dubai with valuable insights and potential leads. But our engagement doesn’t end here. We have an expansion unit that focuses on connecting our business community to different markets year-round through our initiatives and offices.”
He highlighted the Dubai Global Initiative, through which Dubai Chambers aims to establish 50 international trade offices by 2030. Currently, 37 offices operate globally-from Eastern China to South America-serving as platforms for Dubai-based companies to expand abroad and for foreign investors to enter Dubai’s market.
“But we don’t stop there. As a chamber, we also help businesses understand our ecosystem and support their growth into different markets, starting with Dubai. It’s a win-win situation for all the markets involved,” he added.
Key Sectors: ICT, Energy, and Startups
Al Shamsi highlighted several sectors with strong potential for investment, including renewable energy, pharmaceuticals, and ICT, particularly focusing on startups.
“Armenia has a vibrant startup ecosystem, and we are keen to help these emerging businesses take advantage of Dubai’s global platforms to grow,” he said, noting the importance of connecting local startups with international opportunities.
He pointed to the recent Expand North Star event in Dubai, which he described as “the world’s largest tech startup gathering.” The event brought together 2,000 startups from 180 countries, with 1,200 investors managing over $1.1 trillion in assets, offering a significant opportunity for Armenian businesses.
“This is a real opportunity for Armenian startups to connect with global investors and accelerate their growth through Dubai,” Al Shamsi remarked, emphasizing the potential for Armenian companies to expand their reach globally.
Currently, over 500 Armenian companies are active members of Dubai Chambers, representing a 38 percent increase in the first half of 2025.
“We’ve seen 79 new Armenian companies join this year alone,” he noted, expressing optimism that these numbers will continue to rise, as more businesses explore the benefits of doing business in Dubai.
Optimism for 2025 and Growing Connectivity
Looking ahead, Al Shamsi expressed optimism for sustained growth in bilateral trade volumes.
“We’ve seen a 76 percent year-on-year increase from 2023 to 2024,” he said. “We expect another significant rise in 2025.”
He pointed to direct daily flights between Dubai and Yerevan, operated by Fly Dubai, as a key enabler of business expansion.
“This is really important because, in order for businessmen and women to understand both markets, there must be a direct connection. Proximity plays a big role in this. As Dubai Chambers, we would encourage more business delegations from Armenia to join us in Dubai.” he said.
Dubai’s Strategic Advantages
Discussing the appeal of Dubai as a business hub, Al Shamsi emphasized the emirate’s world-class infrastructure, financial ecosystem, and global reach.
“We are well connected to the African continent through our partners, DP World and Emirates Airline. DP World manages and operates over 90 ports worldwide, and their reach doesn’t stop there-they’ve expanded into last-mile delivery. This means that products from Dubai can be transported to various locations. In Africa specifically, DP World operates over 20 ports, so while you’re dealing with a single point of contact in the city, your product can reach numerous markets across many nations. This makes Dubai a highly promising hub for global trade.”
Al Shamsi also underscored the availability of capital and skilled talent in Dubai.
“Dubai has attracted significant capital in recent years, and this capital is constantly looking for new opportunities and investments. Armenian businesses can certainly take advantage of the financing available in the city. Additionally, Dubai is renowned for being one of the leading global hubs for talent. If Armenian businesses are looking for skilled professionals, they will undoubtedly find the talent they need in Dubai.”
Regional Trade Routes and Global Opportunities
Al Shamsi said that global shifts in logistics and trade routes are creating new opportunities for collaboration between Dubai and Armenia. The UAE has opened many channels to facilitate trade, particularly through its CEPA agreements, which have been signed with 27 countries, 13 of which are already in effect. According to Al Shamsi, these agreements align perfectly with the logistical capabilities of Dubai, enhancing the city’s position as a global trade hub.
“We aim to assist companies in leveraging these trade routes and benefiting from agreements with different markets,” he said. The impact has been clear, with a noticeable increase in bilateral trade between Dubai and countries covered by these agreements. Al Shamsi stressed the importance for Armenian businesses to tap into these opportunities: “If others are benefiting from these agreements, why not Armenian businesses as well?”
Armenia’s Strategic Role in the Eurasian Market
“You’re blessed with your geographical location,” Al Shamsi said, highlighting Armenia’s geostrategic position.
“It’s essential for us to understand these investment opportunities and bring them back to our business community to share these potential prospects,” Al Shamsi explained.
The focus remains on creating win-win situations for all parties involved. “We look at these opportunities as mutually beneficial, and we hope to see more of them coming our way, so we can continue to share them with our businesses.”
