RIYADH: In an effort to boost trade and investment ties with France, the Dubai International Chamber has inaugurated a new representative office in Paris. The launch comes shortly after opening the chamber’s new office in Italy, strengthening its European presence. The organization currently has 24 international representative offices across five continents. DIC is one of the three affiliations of Dubai Chambers. The other two are the Dubai Chamber of Commerce and the Dubai Chamber of Digital Economy. “France is one of the strategically important global markets in which we are keen to establish our presence,” said Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, in a statement. He added: “Our network of international representative offices will play a key role in boosting Dubai’s non-oil foreign trade from 1.4 trillion dirhams ($381 billion) to 2 trillion dirhams by 2026.” According to a statement, the opening is part of the Dubai Global Strategy, which aims to bring new business, investment and talent to the Emirates while allowing local firms to expand into international markets. The strategy, founded by Dubai Crown Prince Sheikh Hamdan bin Rashid Al-Maktoum, seeks to develop a robust global network of 50 representative offices by 2030. The statement further added that 472 French companies registered with the DCC in the first seven months of 2023, recording a 33 percent increase over the same period in 2022 Overall, there are 3,068 French businesses registered with the DCC, demonstrating the French business community’s avid interest in Dubai. Non-oil bilateral commerce between Dubai and France reached 24.6 billion dirhams in 2022, reflecting a 33.7 percent year-on-year increase. “Dubai International Chamber’s opening of a new Paris office is a testament to the strength and dynamism of France-UAE trade relations,” said Hend Al-Otaiba, the UAE ambassador to France, in the statement. “This milestone comes at a crucial moment as our economy is diversifying at full speed, presenting exciting new opportunities for French companies to expand their footprint in the UAE in fields varying from space and technology to health and luxury,” Al-Otaiba added. Establishing the office also opens new avenues for economic cooperation and networking between the two markets. “The new office in Paris unifies our efforts to enhance the reach and resilience of Dubai businesses in global markets while supporting the Dubai Economic Agenda by attracting new foreign direct investment to the emirate,” said Lootah.