Local businessman Chris Clavel was among a 30-strong delegation to Dubai for a trade mission to strengthen ties between the regions, that also included the signing of a MOU with world trade hub DMCC.
It has been a good start to the year for the Monaco Economic Board (MEB), which just returned from a multi-day trade mission to Dubai that ran from 25th to 29th January.
Dubai has long been associated with growth, ambition and innovation, and is widely known to be the Middle East’s premiere trading hub. The MEB has leapt at the opportunity to explore this vast and fast-growing market via this recent trip.
Previous visits to the city, which included a Monaco National Day trip on 13th November 2021 and meetings at the Dubai World Expo, were followed up by the 30-plus member delegation that included figures from the worlds of technology, real estate, finance and industry.
A highlight was the formalisation of ties between the MEB and the Dubai Multi-Commodities Centre (DMCC) through the signing of a Memorandum of Understanding, designed to create more business opportunities between the two regions.
The DMCC was established in 2002 to promote commerce in the United Arab Emirates (UAE) and is now one of the biggest free trade zones in the world. It boasts a membership exceeding 20,000 companies and a business community of 100,000 people.
“The UAE offers great opportunities to Monaco’s business community, with DMCC being a key strategic partner for their international expansion,” said MEB Chairman Michel Dotta in a speech during the meeting. “The agreement will consolidate our efforts and will stimulate growth, providing our respective business communities with access to new and fast-growing markets. We look forward to working closely with DMCC to facilitate trade, increase economic activity, and support the businesses of Monaco in navigating Dubai’s vibrant business environment.”
One of the Monegasque entrepreneurs to benefit from this relationship is Chris Clavel, Director of the digital technology company Baccana Group.
“Between the B2B meetings organised by the MEB at the Dubai Multi Commodities Centre (DMCC) and the networking sessions at the Monaco Pavilion at the Dubai Expo, I managed to make 20 valuable contacts,” Chris Clavel told Monaco Life. “One is gently leading to a contract soon with a Dubai-based tourism marketplace needing our online marketing and SEO expertise for the European market. I have some follow up to do with the chambers of commerce of the UAE, Saudi Arabia, Sultanate of Oman and Kuwait. I am also in discussion with the Tourism and Investment board of the Emirate of Sharjah, as well as with the Abu Dhabi University of Artificial Intelligence.
“All of this within three days. So, one can say that the MEB’s trade mission in Dubai was a success for my part, but I know that it was also the case for many other members of the delegation.”
Clavel says he will join the MEB delegation when they return to Dubai from 5th to 10th March for the Dubai International Boat Show.
Other MEB missions are being planned to St. Petersburg in June and Madrid in October.
By Cassandra Tanti and Stephanie Horsman. Photos by Chris Clavel unless otherwise specified