Dubai Unlocks New Opportunities in Thailand with Launch of International Chamber Office

 

This strategic move, the 36th global outpost for Dubai Chambers, is set to unlock substantial opportunities for Thai businesses eyeing expansion into Dubai and to further boost bilateral trade and investment between the two vibrant markets.

 

The opening of the office underscores Dubai's keen interest in leveraging Thailand's strategic advantages and robust economic landscape, while offering Thai companies a vital gateway to global growth.

 

"The launch of our new office in Bangkok will unlock new opportunities for Thai companies seeking to enter Dubai and leverage the city’s strategic advantages as a gateway to global growth," stated His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. "Thailand remains an important partner in our efforts to cement Dubai’s position as a hub for global trade and investment, and we are confident this step will generate significant opportunities for businesses in both markets."

 

 

 

 

A Growing Partnership with Significant Potential

The economic ties between Thailand and Dubai are already flourishing. Non-oil bilateral trade surged past AED 23.8 billion (approximately US$6.5 billion) in 2024, marking an impressive year-on-year growth of 23.3%.

 

This robust growth reflects a dynamic relationship that both sides are eager to expand. The number of Thai companies registered as active members of the Dubai Chamber of Commerce also saw a significant increase of 28.4% in 2024, reaching 190 by year-end.
 

 

During the "Doing Business with Thailand" forum, held concurrently with the office inauguration, Dubai's delegation underscored the vast untapped potential.

 

Thailand, a cornerstone of Southeast Asia's economy, offers Dubai businesses diverse opportunities across its strategic location, developed infrastructure, and entrepreneurial spirit.

 

Speaking at the forum, H.E. Lootah highlighted key sectors for cooperation, including renewable energy, freight and distribution services, and medical tourism.

 

 

Thailand's Allure for Dubai Investment

Thailand, celebrating 50 years of diplomatic relations with the UAE, presents a compelling proposition for Dubai investors.

 

Chutintorn Gongsakdi, Secretary to Thailand’s Minister of Foreign Affairs, welcomed the Dubai delegation, noting that the partnership aims to increase bilateral trade from US$20 billion to over US$30 billion.

 

She highlighted 19 new UAE investment projects in Thailand last year, valued at over US$90 million, including ventures in data centres and solar power – sectors aligning with Thailand’s future-focused economic agenda.

 

Thailand is actively promoting its Bio-Circular-Green (BCG) economy model, focusing on biotechnology, circular economy principles, green development, and sustainable tourism.

 

This offers compelling investment opportunities in next-generation industries. Furthermore, Thailand is positioning itself as ASEAN’s digital hub, investing heavily in digital infrastructure, AI, cybersecurity, and startup ecosystems, which complements the UAE’s leadership in global digital supply chains.

 

 

The mega land bridge project, aiming to link the Andaman Sea and the Gulf of Thailand, also presents Thailand as a major logistics hub, promising reduced transportation costs.

 

Tanita Sirisup, Senior Executive Investment Advisor at the Thailand Board of Investment (BOI), emphasised Thailand's extensive network of 17 free trade agreements (FTAs) covering 22 to 24 economies, including the RCEP agreement, which provides access to 2.3 billion consumers.

 

This positions Thailand as an ideal gateway for exports and regional business. The BOI offers attractive incentives, including tax holidays, 100% foreign ownership, land rights, and streamlined visa processes, further enhancing the business environment.

 

 

 

Dubai's Offer to Thailand: A Global Launchpad

Conversely, Dubai presents itself as a robust, diversified economy with world-class infrastructure and global connectivity, making it an ideal launchpad for Thai businesses seeking to expand into fast-growing markets across the Middle East, Africa, and India.

 

Salem Al Shamsi, Vice President of the International Relations Sector at Dubai Chambers, underscored Dubai’s resilient economy, citing a 3.1% GDP growth in the first three quarters of 2024.

 

He highlighted Dubai's dominant role in Middle Eastern exports, its 27 free zones, and extensive trade agreements, further bolstered by over 110 weekly flights operated by major carriers like Emirates and Etihad.

 

Dubai's attractiveness extends to its strong financial market, low corporate taxes (as low as 9%), and high global rankings in economic performance, government agility, and skilled labour.

 

In 2024, Dubai attracted US$14.2 billion in Foreign Direct Investment (FDI), with over 1,100 projects, tripling Singapore's figures.

 

High-potential sectors for Thai investment and exports into Dubai include rental and leasing services, advertising and PR-related services, freight and distribution services, and, notably, medical tourism.

 

 

The Significance of the New Bangkok Office

The new Dubai International Chamber office, its 36th worldwide, will play a pivotal role in cementing these growing ties.

 

It will strengthen relationships with key public and private sector stakeholders in Thailand, offering Thai businesses direct access to market intelligence, crucial business matchmaking services, and strategic guidance for entering the Dubai market.

 

This formalised partnership between the Thai Chamber of Commerce and Dubai Chamber, including a Memorandum of Understanding signed last year, is seen as a key facilitator for closer cooperation and new trade and investment channels.

 

The inauguration ceremony was attended by distinguished officials including Chutintorn Gongsakdi, Secretary to the Minister of Foreign Affairs of the Kingdom of Thailand, and Pornvit Silaon, Deputy Director General, Department of International Trade Promotion. Dr Poj Aramwattananont, Chairman of the Thai Chamber of Commerce, lauded the office opening as a historic milestone, coinciding with 50 years of diplomatic relations between the UAE and Thailand.

 

The new office is a tangible commitment to the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy and establish Dubai among the top three global cities by 2033, leveraging its strategic partnerships with promising markets like Thailand. Both nations expressed strong confidence that this deepened collaboration will foster mutual growth, innovation, and shared prosperity for decades to come.