To strengthen trade, economic and investment cooperation with Armenia, the Dubai Chamber of Commerce organized a business forum in Yerevan on October 22-23 under the title “Business Relations with Armenia”. 

Banks.am spoke with Salem Al Shamsi, Executive VP of International Relations at Dubai Chambers, who arrived in Armenia to participate in the forum.

- Dubai is often described as a bridge between East and West. How does Dubai Chambers help international businesses including those from Armenia  use Dubai as a gateway to global markets?

- I think the main topic is how Dubai Chamber of Commerce (one of the three chambers operating under the umbrella of Dubai Chambers,- author) can help Armenian businesses connect to the world. We work with our closest partners and the largest players in regional logistics, DP World and Emirates.

The UAE accounts for 41% of total exports and re-exports from the Middle East, which shows the power of UAE and Dubai’s logistical companies and the connectivity that we have with the rest of the markets. DP World itself has over 90 ports around the world. These ports play a big role in terms of helping different businesses reach different markets. Take Africa, for example. More than 20 ports in Africa are managed by DP World. So, Armenian businesses can take advantage of Dubai as a logistical hub to reach this market. As Dubai Chambers, we work closely with DP World and connect the businesses.

When it comes to airlines, Flydubai and Emirates serve over 200 destinations worldwide, including Yerevan. This connectivity helps businesses travel around the world. This is another reason why the UAE is so strong in connecting businesses globally. As for Dubai Chambers, we represent the business community in the city. We connect international businesses with the local market as well. For example, if a businessman from Armenia wants to enter the market, we offer a concierge service that helps to connect with the local business community – free of charge. We also connect them to business partners, whether they are exploring joint ventures (JV) or seeking investors. We help them grow within Dubai, since they are registered there. Once registered, we help them expand into other markets through our 37 offices. These offices play a major role in helping us connect businesses globally.

- What specific sectors or areas do you see as having the strongest potential for cooperation between Dubai-based companies and Armenian businesses?

- This is our first interaction with the business community here in Armenia. Definitely, this will not be the last. We call this a study mission and aim to understand the dynamics of Armenia’s business community.

We are going to take the feedback also from the delegates that we brought. We brought 15 businesses from Dubai, representing nine different sectors. We are here to understand more of what Armenia provides. And we are going to take it back home, do our homework and then maybe come back with different ideas. We see very promising sectors including retail and apparel, and the ICT sector. We have seen the increase in the focus of ICT and start-ups specifically in Armenia. So, this is very promising as it complements what we have in Dubai. We have different ideas that we shared with the different stakeholders here. How can we help the start-up community take advantage of what is provided in Dubai, like for instance of Expand North Star, which is the largest tech exhibition in the world? This is something we discussed earlier with stakeholders. As Dubai Chambers, we are keen to support them in this and help them expand from Dubai into other markets.

- Dubai is well known for its innovation-driven economy. What lessons or best practices can Armenian businesses learn from Dubai’s experience?

- We want to learn from Armenians as well. They are great businessmen and businesswomen. But how can Dubai Chambers help share the knowledge of our business community with the Armenian? I think this may be ensured by increasing the business delegations from both sides. This is very important and we would like to help. The more businesses come back and forth, the more they understand the dynamics and how Dubai has been successful in its business strategies. 

I think the key factor is encouraging businesses to visit Dubai to understand more about how it happened. And this is something that Dubai Chambers also facilitates. 

- How does Dubai Chambers view our region, and particularly Armenia, in its broader strategy for expanding trade and investment partnerships?

- Armenia has a strategic location. It is well positioned geographically between Asia and Europe. We see this forum as an opportunity to explore how we can expand this connectivity after the event and how Dubai businesses can benefit from Armenia’s geographic location.

The Armenian businesses are looking forward to doing business in Dubai. During the forum we’ve seen that there is eagerness from the business community here in Armenia. We view this as an opportunity for both markets to benefit. And I’m looking forward to what’s next after this event.

- Looking ahead, what are your expectations for the Armenia–Dubai business relationship in the next few years? 

- I hope I know the future. But for me, I see positiveness. As I told you from the conversation that I had with the delegates, there is a possibility of doing business in Armenia. As Dubai Chambers’ representative, I’m really keen to facilitate this. Hopefully, in the next years, we will see an increase in the number of businesses both ways – Dubai businesses in Armenia and Armenian businesses in Dubai. We’ve seen an increase of 38 percent this year alone of businesses from Armenia. Seventy-nine companies joined us only in the first six months of 2025. So, we want to push it even further. Right now we have 500 active members of Armenia in Dubai Chambers. Maybe in the five years, it reaches 5,000 – this is something I’m looking forward to.

Arpi Jilavyan