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Dubai Trade Made AED143bn in Six Months of 2012

Middle East : 30 November 2012

Source:Gulf News 2012

Dubai: Dubai’s Direct exports and re-exports reached Dh143 billion in the first six months of 2012, Sami Al Qamzi, Director General of the Dubai Department of Economic Development, announced on Wednesday.

He said: “Dubai’s direct exports and re-exports for the first six months of 2012 have already reached Dh143 billion, whereas it was Dh172 billion for the whole year in 2008.”

He added that quarter on quarter the total value of Dubai’s direct exports and re-exports rose from Dh65 billion in the first quarter of the year to Dh78 billion in the second quarter.

“Dubai Exports is confident that we will round up the year on a high note as we see a high level of interest among local companies in competing in major export markets,” Al Qamzi said at the Exporters’ Forum that was hosted by Dubai Exports, the export promotion agency of the Department of Economic Development (DED), and attended by over 200 business leaders in the logistics and trading sectors as well as customs and export officials.

Success factors

The implementation of GCC customs union law in the UAE is one of the factors that helped to boost trade. The law has eased the flow of goods in and out of the UAE under a unified legal framework, Ahmad Mohammad Al Baker, Director of Legal Affairs Department at the UAE Federal Customs Authority, said.

In addition, export Assistance Programme, trade missions, B to B meetings, exhibitions were driving engines that have grown with Dubai trade in the last few years, Saeed Al Awadi, CEO, Dubai Exports, said.

“Dubai Exports has been able to play the lead role in connecting 85 per cent of the exporters in Dubai to new markets during the first six months of 2012. More than 210 firms, including manufacturing units, exporters and free zone companies, participated in the foreign missions and networking programmes organised by Dubai Exports during the first half of this year,” he added.

Despite all these incentives, Hazim Al Hijaj, Managing Director of Powermatic, said: “Dubai should develop its trade policies in the long run. They should work on a wider scope by not only finding new markets… but through encouraging and enhancing domestic production.”

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