(ME NewsWire) - The International Monetary Fund (IMF) hailed the sophisticated work done by Statistics Department, the consulting arm of Dubai World, in providing a comprehensive statistical database for Dubai’s non-oil trading activities.
An IMF delegation, in co-ordination with the UAE Central Bank, visited the Statistics Department, where it was introduced to the modern methods the department follows in creating and upgrading an electronic database related to all areas of Dubai’s direct foreign non-oil trade, including import, export and re-export of products through free zones and customs warehouses. Senior department officials explained to the delegation how this service helps the various economic sectors in Dubai and the UAE in general.
Dr. Nuri Erbas, Senior Economist at IMF Middle East and Central Asia Department, lauded the sophisticated level of operation Statistics Department has achieved in gathering trade data.
Saeed Alqaizi, Director of Group Procurement, Contracts, Statistics and General Administration, Dubai World, said that co-operation and co-ordination with international agencies like the International Monetary Fund is important for the department. “The sharing of experience and expertise helps in developing and upgrading our operation so that it serves national interest in the best possible way.
“The Statistics Department has been constantly upgrading the technology pertaining to data collection from all areas of trade in Dubai, classifying and organising them carefully to ensure easy access for interested parties. These data provide details in terms of value and volume of all traded products,” Alqaizi added.
The service provided by the Statistics Department has been of immense help to government departments, ministries, embassies, consulates and trade missions. The department’s studies also provide vital trade information to the business community, researchers, scholars, analysts, academicians, universities and the media.
Moreover, the data service plays an important role in hosting international exhibitions in the country, particularly in Dubai, because the market information helps the organisers to attract exhibitors from marked regions.
Nassim Al Mehairi, Acting Head of Statistics Department, made a detailed presentation of the department’s working mechanism. “The importance of statistical data cannot be ignored while laying economic development plans or preparing feasibility studies on investments in public and private sectors. We are in an age when technology serves the exchange of statistical information that can be used to achieve commercial objectives. It has now become quite difficult to separate statistical work from economical work,” she said.
Al Meheri stressed the need for exchange of experience and information that help develop the field of statistics, because it is crucial in economic planning, estimation, and forecasting at all levels. It also helps in knowing the factors that affect the demand and supply of products, she noted.
*Source: ME NewsWire
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