DAKAR - Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, revealed that Dubai's total investments in Senegal reached around $846 million (AED3.1 billion) from 2011 until the end of 2023.

In statements to the Emirates News Agency (WAM) during his participation in the first leg of the Dubai Chambers' trade mission to Senegal and Morocco as part of the "New Horizons" initiative, Lootah emphasised the significant growth of Dubai's investments in Senegal. These investments have created more than 1,200 jobs in the Senegalese market.

The New Horizons initiative supports the expansion of local companies by connecting them with promising global markets.

Lootah identified several positive indicators suggesting strong potential for further collaboration between Dubai and Senegal. He highlighted the impressive growth in bilateral trade, which reached $942 million by the year-end 2023, reflecting a 17.7% increase.

The trade mission aims to promote and strengthen trade and investment opportunities between Dubai and Senegal.