ID :
42655
Mon, 01/26/2009 - 12:00
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https://oananews.org//node/42655
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Dubai exports climb amid global downturn
Dubai, Jan 26, 2009 (WAM) - Exports and re-exports enjoyed a 42 per cent leap in 2008, according to the Dubai Chamber of Commerce and Industry.
Despite the financial situation in the rest of the world, goods exported and re-exported from Dubai hit Dh240 billion last year.
The Dubai Chamber also emerged as the biggest issuer of certificates of origin in the world with an 11 per cent increase since 2007.
Around 559,652 certificates of origin were issued in 2007. This figure rose to 624,066 in 2008.
Hamad Buamim, Dubai Chamber director general, said the figures represent the resolve of Dubai's business community to face the "onslaught" of the global financial crisis and show the optimism and determination needed to further developer the emirate's economy.
"The 2008 figures directly reflect the magnitude of Dubai Chamber efforts in supporting the growth of business in the emirate and the promotion of Dubai as a global trading hub," Buamim added.
In line with Dubai's plans to become the best port in the Middle East and Asia, its reputation as a vital re-export hub has become stronger judging by these robust figures.
The results come after a successful year for the Dubai Chamber which saw an increase in efforts to boost trade and trade relations.
Dubai saw almost a 50 per cent increase in imports and exports and almost a 100 per cent rise in re-exports within one year, officials said recently.
Second quarter 2008 imports totalled Dh166 billion, a 54 per cent increase from second quarter 2007, Mahmoud Al Bastaki, director of Dubai Trade, an online trading portal, told Gulf News earlier.
Export figures surged to Dh46 billion, a 48 per cent increase from last year's figures at this time, he said.
Meanwhile, re-exports enjoyed an exponential increase of 91 per cent over last year second quarter figures, reaching Dh44 billion, almost equal to that of exports, Al Bastaki said.
The UAE was also recently voted the easiest country to do trade in the Middle East region, according to the World Bank report, Doing Business in the Arab World 2009.
The Dubai Chamber signed ten Memoranda of Understanding (MoU) in 2008 with international and local bodies, including the Hamburg Chamber of Commerce. In Hamburg, the Dubai Chamber said that the full impact of the financial crisis had not yet been felt in Dubai.
"The fact is that Dubai, while not immune to the events taking place in the global economy, has not yet felt the true impact, and (this) is reflected in that trade is up 40 per cent on last year," Buamim said at the meeting in December.
International trade was good in 2008 with trade between the Netherlands and Dubai reaching US$2.7 billion in 2008, according to the Dutch consul general in Dubai.
Trade between the UAE and Hamburg has doubled since 2005 and now stands at around 140 million Euros (Dh716.4 million).
The Dubai Chamber hosted 201 trade delegations last year, including the President of the Philippines, the prime minister of the Czech Republic, mayors of Houston and Lyon and other commercial consuls from its trading partner countries. – Gulf News
Despite the financial situation in the rest of the world, goods exported and re-exported from Dubai hit Dh240 billion last year.
The Dubai Chamber also emerged as the biggest issuer of certificates of origin in the world with an 11 per cent increase since 2007.
Around 559,652 certificates of origin were issued in 2007. This figure rose to 624,066 in 2008.
Hamad Buamim, Dubai Chamber director general, said the figures represent the resolve of Dubai's business community to face the "onslaught" of the global financial crisis and show the optimism and determination needed to further developer the emirate's economy.
"The 2008 figures directly reflect the magnitude of Dubai Chamber efforts in supporting the growth of business in the emirate and the promotion of Dubai as a global trading hub," Buamim added.
In line with Dubai's plans to become the best port in the Middle East and Asia, its reputation as a vital re-export hub has become stronger judging by these robust figures.
The results come after a successful year for the Dubai Chamber which saw an increase in efforts to boost trade and trade relations.
Dubai saw almost a 50 per cent increase in imports and exports and almost a 100 per cent rise in re-exports within one year, officials said recently.
Second quarter 2008 imports totalled Dh166 billion, a 54 per cent increase from second quarter 2007, Mahmoud Al Bastaki, director of Dubai Trade, an online trading portal, told Gulf News earlier.
Export figures surged to Dh46 billion, a 48 per cent increase from last year's figures at this time, he said.
Meanwhile, re-exports enjoyed an exponential increase of 91 per cent over last year second quarter figures, reaching Dh44 billion, almost equal to that of exports, Al Bastaki said.
The UAE was also recently voted the easiest country to do trade in the Middle East region, according to the World Bank report, Doing Business in the Arab World 2009.
The Dubai Chamber signed ten Memoranda of Understanding (MoU) in 2008 with international and local bodies, including the Hamburg Chamber of Commerce. In Hamburg, the Dubai Chamber said that the full impact of the financial crisis had not yet been felt in Dubai.
"The fact is that Dubai, while not immune to the events taking place in the global economy, has not yet felt the true impact, and (this) is reflected in that trade is up 40 per cent on last year," Buamim said at the meeting in December.
International trade was good in 2008 with trade between the Netherlands and Dubai reaching US$2.7 billion in 2008, according to the Dutch consul general in Dubai.
Trade between the UAE and Hamburg has doubled since 2005 and now stands at around 140 million Euros (Dh716.4 million).
The Dubai Chamber hosted 201 trade delegations last year, including the President of the Philippines, the prime minister of the Czech Republic, mayors of Houston and Lyon and other commercial consuls from its trading partner countries. – Gulf News
