Dubai Direct Exports record 35% increase for the first three quarters of 2010
UAE is striving to become one of the leading exporting countries in the world, said Engineer Saed Al Awadi, Chief Executive Officer, Dubai Exports (EDC), an agency of the Government of Dubai's Department of Economic Development (DED) during his keynote address at the Second Exporters Forum.
"Although this vision is still distant due to a major challenge posed by the dumping policy of some major industrial countries and with their long history in manufacturing that is hard to compete with, yet our government is willing and able to overcome such challenges," Al Awadi said.
"We are fortunate to have such leadership who believes in our capabilities and capacity to attain the future economic prosperity of the UAE. This vision motivates us more to work hard and accomplish in a few years what others have done in decades," he added.
The forum received an overwhelming response from local and regional exporters, manufacturers and government officials, who attended the event to discuss the current exports and trade services as well as opportunities available to private sector companies. The forum also focused on ways to increase UAE exports to major markets across the world in the coming years.
"Since our establishment, we have achieved several milestones showing concerted efforts in providing the appropriate support to the local exporting community to expand internationally. EDC was also recognised by the International Trade Promotion Organisation (TPO-ITC) as one of the top 10 TPOs - the only organisation to be in such a list within three years of its establishment.
"According to industry indicators by Dubai Trade, foreign trade has increased to 21% in the first three quarters of 2010 as compared to the same period last year. Dubai Direct Exports rose to 35%, the total re-exports increased by 25% while the imports grew by 17% in the same period," Al Awadi said.
He also explained that the second edition of the Exporters Forum is one of the most important tools to equip businesses with the right tools to succeed in a competitive global marketplace. "Today marks our aim of making it an annual fixture on the UAE's events calendar. We want this forum to be the venue for facilitating the growth of the local export sector and discuss different approaches to make this sector successful," Al Awadi added.
Entitled "Be a Partner in Economic Development", the forum was also attended by His Excellency Sami Al Qamzi, Director General of the Department of Economic Development (DED); along with other heads of different government and semi government agencies and corporations. Some of the leading manufacturing companies were among the private firms present at the forum.
In the first session, Fatma Al Hussani, Director, Trade Marks Department under the Ministry of Economy, discussed the role of the department and how private firms can register for trademarks. She also talked about the measures and procedures for the declaration of a trademark in the region.
Mahmood Bastaki, Director, Dubai Trade, shared the role of the agency in international trading and exporting. As the single window channel to the online services of DP World, Dubai Customs, Economic Zones World and Jebel Ali Free Zone Authority (Jafza), Dubai Trade provides streamlined flow of services in trade and logistics operations in Dubai.
Among the portal services Bastaki mentioned were services for Traders, Shipping Lines and Agents, Clearing and Forwarding Agents, Haulers, and Free Zone Licensees, and include Marine services, Manifest and Cargo handling services, Cargo Clearance and Haulage services, Invoicing and Payment services, Free Zone services, and Electronic Warehouse Receipts services.
Meanwhile, Nehmat Ayyash, Chief, Trade Information Division at Arab Trade Financing Program (ATFP) explained the organisation's financing facilities and services available for the development of the production capabilities and competitiveness of exporters in the Arab region. Ayyash added that the program's services promote trade exchange within Arab markets aimed at establishing an Arab free trade area and unified economies in the region.
In addition, Abdelaziz Abubakr, Head, Marketing Department of the Sudanese Free Zones & Markets (SFZ), discussed how it has attracted many investors regionally and globally as well as the export opportunities Sudan presents to UAE industry sector. Other topics discussed during the forum were the services provided by the companies under EDC such as the Dubai Sub-contracting & Partnership eXchange Program (SPX), and the Export Credit Insurance Company of the Emirates (ECIE).
EDC's representation offices in Saudi Arabia (OTO-KSA) and India (OTO-India) also presented their services. The second half of the forum consisted of bilateral meetings with ATFP, OTO-KSA, OTO-India and Dubai SPX, which were attended by interested companies from the private sector.
The Second Exporters Forum was supported by Khaleej Times, CNBC Arabia and Ganty Advertising & Publishing LLC.
- IMF report details the crippling economic effects of conflict in MENA
- Saudi Arabia's plastic consumption 20 times higher than global average
- VAT in Egypt: A guide to taxed and exempted goods
- Go big or go home: Expat salaries soar in Dubai
- Lebanon: Financial analysts warn of long-term economic repercussions after BLOM Bank attack
- Dubai Direct Exports record 35% increase for the first three quarters of 2010
- Total exports of Bahrain in 2004 stood at BD2.83bn, an increase of 13.4% over 2003
- EDC sees increase of UAE’s exports to Qatar in 2010
- ECIE Enjoys Excellent First Quarter
- Cognos partner LETS to Support Leading KSA Automotive Credit Agency