Dubai Chambers has organized the Dubai-Madagascar Business Forum, welcoming a delegation of 60 companies from Madagascar to discuss investment opportunities and potential business partnerships. The forum took place at the Dubai Chambers headquarters and emphasized the importance of enhancing economic ties between Dubai and Madagascar.

Attending the event was Andry Rajoelina, the President of the Republic of Madagascar, who led a high-level delegation that included ministers, senior government officials, and business leaders from Malagasy enterprises. The delegation was warmly received by Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, along with representatives from Dubai’s private sector.

According to The Tribune, in his keynote address, President Rajoelina acknowledged Dubai’s impressive global economic status and expressed his country’s eagerness to strengthen bilateral relations in several priority sectors. Sultan bin Saeed Al Mansoori highlighted the growing economic connections between Dubai and Madagascar, stating, “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.”

Al Mansoori also noted that the launch of Emirates Airlines’ direct service to Antananarivo, Madagascar’s capital, is set for September 2024, which he viewed as a significant milestone in enhancing trade, tourism, and collaboration between the two regions. He revealed that Dubai’s non-oil trade with Madagascar saw a remarkable increase of 90 percent in 2024, rising from AED 692 million in 2023 to AED 1.3 billion, indicating a robust momentum in their economic relations.

During the forum, Mohammad Ali Rashed Lootah provided a detailed presentation on sectors ripe for bilateral investment and trade collaboration. He underscored the key investment opportunities available in Dubai for Malagasy businesses, focusing on sectors such as tourism, entertainment, logistics, real estate, information technology, and financial services.