Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Bulgarian Business Council. The new council aims to strengthen economic cooperation, promote partnerships between the business communities in Dubai and Bulgaria, and expand investment collaboration across diverse sectors.
The council’s first meeting was held recently at Dubai Chambers’ headquarters. Participants discussed ways to develop new business opportunities and advance mutual investments. The meeting also focused on strengthening the connections between Bulgarian companies and their counterparts in Dubai, exchanging expertise and data, and organising bilateral business events.
The launch of the Bulgarian Business Council comes as Dubai continues to reinforce its position as an international hub for Bulgarian companies and investors. Non-oil trade between Dubai and Bulgaria reached AED 777 million in 2024, recording annual growth of 5% and reflecting the strength of bilateral commercial ties. During the first nine months of this year, 54 new Bulgarian companies joined the chamber, bringing the total number of active Bulgarian members to 243 by the end of September.
Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, commented: “The establishment of the Bulgarian Business Council represents an important step forward in the economic ties between Dubai and Bulgaria. The council will help build stronger partnerships between our business communities, unlock new opportunities for joint investment, and support the continued growth of bilateral trade.”
In this regard, Mr. Milo Borissov, Bulgarian businessman and entrepreneur, stated, ‘I am delighted with the creation of this Bulgarian Business Council, which opens new avenues for collaboration between Bulgaria and the UAE. Together, we can explore and harness the potential of both markets.’ Borissov is the founder of the PALMS WORLD brand and a managing partner in an international holding group, as well as a co-founder of the “Sport in Bulgaria” Foundation.
The Business Councils operating under the umbrella of Dubai Chamber of Commerce represent the interests of companies and investors from specific markets operating in Dubai. They work in close cooperation with the chamber to enhance bilateral trade and investments between Dubai and the markets represented, with the goal of developing robust long-term economic partnerships.