Dubai Trades Exchanges reached at 279.2 billion dirham in the first half of the current year
Non- oil trade values exchange between Dubai and outside worlds rose by 18% during the first half of the current year 2010, recording more than 279.2 billion dirham relatively compared to 237.6 billion dirham over the same period of last year 2009.
Ahmed Butti Ahmed, the Executive Chairman of Dubai Ports, Customs and Free Zone – the Director General of Dubai Customs, emphasized that the statistical data issued by Dubai Customs Statistics Dept has proved positive indications for the recovering trades in the Emirate, noting that the trades exchange between Dubai and the other countries around the world kept the pace of the growing rate during the last five years as the average estimated by 17% which clearly shows that the Emirate is still enjoying good attracting business hub for all traders and investors.
He highlighted that the total Dubai direct exports to the global markets set a high record by the end of the first half of this year relatively compared to the same period of the last five years – reached to 32.8 dirham against 23.6 dirham in the same period from the last year 2009, this indication significantly prove Dubai products competitive capability and likely to accommodate itself into the global markets.
The Director General explained that the total value of Dubai imports from the global markets during the first half of the current year, rose to 177.4 billions dirham – greater by 13% in the same period of the last year with mount of 156.5 billion dirham, which really indicates availability of a growing power of purchase in Dubai and good lucrative opportunities for many companies seeking to enhance base of trades activities in the Emirates markets or through the local neighboring markets
He added that: the re-exports operations have increasingly recorded grow by 20% during the first six months of the current year – amount of 69 billion dirham against 57.5 billion dirham during the same period of the current year, bearing in account that the re-export pace regained its normal tune which was as usual before the world crunch, this because making availability of opportunities represented in the integral infrastructure facilities, logistics benefits that provided by Dubai in term of hearths, handlings, cargos and the customs centers which in turn facilitated the required basics for traders and investors.
He also said that: the Export Support Program and the effort made for opening new markets, besides, the joint ventures concluded with many countries around the world, the strategic geographical situation and other factors have all together paved the way to Dubai to lead a vital local role for the re-export sectors.
Dubai trade with GCC countries rise by 10% reaching AED 11 billion
Dubai trade exchange with the GCC countries grew an average rate of 10% during the first half of 2010 reaching AED 11 billion as compared to AED 10 billion of the same period last year.
Butti stated that the Statistics issued by the Statistics Department at Dubai Customs revealed that the re-exports with the GCC amounted to AED 4.8 billion by the end of the first half of 2010 while exports estimated as AED 2.3 billion and the imports valued at AED 3.7 billion.
Butti said that the rise in Dubai trade exchange with the GCC is considered an outcome of the economic integration among countries of the region which is demonstrated in establishing the Free Trade Zone in 1983, followed by the unification of customs in 2003 and the founding of the GCC Market in 2008.
Butti said that the growing trade activity among the GCC countries is inline with the aspirations of the GCC leaders who give much attention to achieving economic integration as well as earning profits which benefit the GCC citizens besides benefiting from the huge economic aspects, coherent systems and the private sector in these countries.
Saudi Arabia topped the list of trade exchange between Dubai and the GCC with 36% with a value of AED 4 billion of the first half of this year. Kuwait came second place with AED 2.1 billion value of exchange, then Oman with AED 2 billion, Qatar with AED 1.6 billion and Bahrain with AED 1.2 billion value of exchange respectively.
- Gazans reach beyond Israeli blockade through start-up
- France is playing a risky dating game in the Gulf: experts
- Egyptian stocks plummet as Yemen confict deepens
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis