UAE economy moving in right direction: Al Mansouri

UAE’s economy is moving in the right direction and its financial system has been stabilised, said Economy Minister Sultan bin Saeed Al Mansouri. There are signs of recovery as banks in the country have started lending again, the minister said.
“The stability of the banking system has been achieved in the first three months,” Mansouri said according to "Khaleej Times."
“We definitely have seen some positive results in different sectors, whether it is in trade or export,” Mansouri said after inaugurating the Certificate of Origin form (A) and Post Verification on Tuesday.
The certificate contributes to supporting export firms and diversifying external markets. It is considered as an essential document to identify the nation of origin of commodities and place of manufacturing, in order to evaluate customs fees and the preference deal that will be offered through trade agreement between countries.
“This is particularly important in today’s globalised world, where nations have trade linkages,” the minister said adding: “This issue has gained high attention due to its impact on exports and trade exchange in the region and the world,” Mansouri said.
He said that many countries have benefited from this system all over the world. It has helped these countries strengthen its exports and at the same time develop sectors such as agriculture, industries, animal husbandry and other natural products.
Earlier, at the award ceremony of the Dubai Service Excellence Scheme, or DSES, Mansouri said the retail sector is one of the key pillars of the UAE economy and service excellence is the pillar of the retail experience. The DSES serves as a model for businesses to excel in their commitment towards customers,” said Mansouri after honouring the winners of the DSES. – Khaleej Times