Dubai Trade, DEDC join hands to boost Dubai’s trade
MoU signed on mutual co-operation and co-ordination
Dubai Trade, Dubai World’s end-to-end-online service provider and trade facilitator, today (September 25, 2008) signed a Memorandum of Understanding (MoU) with Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting exports from the emirate, on co-operation and co-ordination to enable collective functioning towards Dubai's economic development. It also seeks to streamline service delivery to businesses and industry in the UAE and Dubai in particular.
This MoU, signed by Mahmood Al Bastaki, Director of Dubai Trade, and Saeed Al Awadi, Chief Executive Officer of DEDC, brings the two trade facilitating entities together on a common platform to fuel Dubai’s growth engine through the exchange of information, mutual promotion and joint representations to industry and business. While pursuing individual strategies of each party to achieve its mission and objectives, this joint action will also meet the overall objectives of the Dubai Strategic Plan 2015.
Mahmood Al Bastaki said: “The MoU with Dubai Export Development Corporation marks an important milestone in Dubai Trade’s continuous efforts to enhance Dubai’s trading activities. DEDC is a major force driving Dubai’s export to higher levels. Being an indispensable and efficient business facilitator, Dubai Trade can provide additional momentum to DEDC’s efforts by enhancing the quality of trade flow in the emirate. Our online services have made tremendous impact on the speed and efficiency of the supply chain. Co-operation and co-ordination between the two entities will strengthen Dubai’s economic development. We are happy and proud to contribute our capabilities to optimise the quality of business environment in Dubai and in the UAE at large.”
Saeed Al Awadi said: “DEDC is happy to team up with Dubai Trade, the excellent electronic service provider, to seek new areas of joint action that can take Dubai to higher economic achievements. This MoU is an important step, which will combine two strong trade promoting forces for the benefit of our economy. In terms of services offered, both DEDC and Dubai Trade are making major contributions to creating a customer-friendly business atmosphere in Dubai. Our closer co-operation will lead to setting up new benchmarks for services.”
As per the agreement, Dubai Trade will provide DEDC with Dubai’s trade data, which will enable and guide the export promoting agency to plan export promotion and development strategies for Dubai’s exporters. DEDC, on the other hand, will make available to Dubai Trade the analysis of Dubai’s trade/export performance to enable strategic planning.
DEDC will assist Dubai Trade in Business Process Re-engineering projects that would identify all partners in the value chain of trade. The MoU also stipulates that both parties endeavour to share online access of data/software that identifies trade and business information, the analysis of which is relevant to mutual promotion of Dubai’s economic development.
Another area of co-operation will be the sharing of suggestions received from customers on improving trade and business.
A joint management committee (JMC) will be formed to manage and oversee this alliance. The committees make recommendations to the senior management of the two parties whenever necessary.
