Export Development: The emirate has succeeded in dealing with the repercussions of Corona on the export movement

1.3 trillion dirhams Dubai's foreign trade expected by the end of 2020

  • Dubai achieved a 2% growth in exports during the first quarter of 2020 compared to the same period in 2019. ■ Archival

  • Al-Awadi helped: "Positive expectations of an economic boom during the end of 2021, as a reversal after the elimination of (Corona)."

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The Dubai Export Development Corporation expects that the value of the emirate's foreign trade will double during the second half of this year, to reach 1.3 trillion dirhams by the end of this year.

The corporation confirmed to Emirates Today that Dubai has succeeded in dealing with the repercussions of the Corona pandemic on the export movement, noting that the pandemic has promoted the diversification of the emirate's foreign trade.

Success

In detail, the Executive Director of the Dubai Exports Development Corporation, one of the Dubai economic institutions, helped Al-Awadi, predicted that the value of Dubai's foreign trade would double during the second half of this year, to reach 1.3 trillion dirhams by the end of this year, confirming Dubai's success in dealing with the economic repercussions resulting from The outbreak of the Corona pandemic, and its effects on the international economy and global trade movement.

Al-Awadi said that Dubai has succeeded in avoiding the negative consequences of the pandemic, and it is expected that the improvement in trade and economic indicators will continue during the coming period, with positive expectations of an economic boom, during the end of next year, as a reversal after the elimination of the new Corona virus.

He added that the pandemic strengthened the diversification of the emirate's foreign trade, as the luxury trade declined, while the value of commercial exchanges of food commodities, health and pharmaceutical products increased.

diversity

Al-Awadi explained that there is a remarkable diversity in Dubai’s exports during the current year, with the multiplicity of sources of purchase and sale markets, pointing out that «Dubai Export Development» works to support local companies and factories in various sectors, to reach various markets and expand exports.

He indicated that the annual performance of foreign trade depends on many components that support it in its continuous growth, but the current and previous phases since the beginning of the Corona pandemic are considered exceptional for all economic sectors, not only in Dubai or the UAE, but also globally.

growth

Al-Awadi stressed that despite these challenges, Dubai achieved, during the first quarter of this year, a growth in exports by 2%, compared to the same period last year, bringing the value of Dubai's exports, during the first three months of 2020, to 43. One billion dirhams.

He said: “In light of the widespread need in the world for food products, we witnessed a growth in foodstuff trade in Dubai during the first half of this year, compared with the first half of 2019, by 15%, while the trade of medicines and medical supplies achieved in The first half of 2020 witnessed a remarkable growth, compared to the first half of last year, by 19%.

"All these figures reflect the remarkable and diversified growth that serves the current stage, and enhances the performance of foreign trade in general and exports in particular," he added, pointing out that the world is currently witnessing many fluctuations through the direction of countries to another phase of closure, which may be reflected in global trade supplies. Public.

Premium portfolio

Al-Awadi stressed that Dubai's foreign trade has withstood in the face of the Coronavirus pandemic, due to the emirate’s diversified and distinguished export portfolio through its components, indicating that the increases in the most important strategic sectors that serve the current phase are a great indication of the continuity of Dubai’s supply to many markets with products and exports of relevance. Competitiveness serving the region and the diverse markets, and he stated that the pandemic affected the levels of demand and changed market trends, but despite this there is continuity in the markets we deal with, which are a strategic trading partner of the emirate.

He pointed out that the levels of demand may change according to the current conditions, but the continuity of Dubai in the strategic markets reflects the sustainability that the emirate enjoys significantly, which enhances international confidence in the emirate, a strategic market that maintains its luster regardless of the fluctuations.

Major markets

Al-Awadi said that markets such as Saudi Arabia, China, India, the United States of America and Switzerland continued to be major and important markets for Dubai in terms of foreign trade, indicating at the same time that African markets are also promising, which are target markets for Dubai exporters, as the Dubai Export Development Corporation seeks to explore these And help local companies to reach them and compete strongly in them.

He added: “We have witnessed a variation in the number of requests that were met by the Corporation’s offices around the world, amounting to 142 requests from exporters heading to foreign markets, as they were distributed into 11 economic sectors, from January to October 2020, which confirms the institution’s ability to deal with various levels in trends Markets ».

Stimulate

Al-Awadi said that the Dubai government helped the local market to overcome the Corona crisis, especially through economic stimulus packages that were reflected in the performance of exports, indicating that every package launched since the beginning of the year worked to support the continuity of companies to meet the current demand, and is reflected in the export sector. , As commercial companies and factories benefit from these packages through many programs that reduce burdens at the local level, and continued that «all this necessarily reflects on the performance of companies at the international level, through expansion in foreign markets and others, especially those packages linked to customs duties due, And all matters related to the foreign trade sector ».

Challenges

Al-Awadi explained that the most important challenges faced by companies and exporters during the current year were the difficulty of external communication and movement between international markets due to the general closure in countries of the world, indicating that one of the most important challenges was some additional measures that limit transportation in some countries according to the exporters. He added that «Dubai Export Development», through its participation in the work of several committees, has communicated with all concerned parties, in income and abroad, to facilitate the work of companies and open markets for their exports through immediate and direct communication.

Communication

Al-Awadi stated that the corporation worked on immediate and direct communication with the exports and factories sector, as it held direct meetings and participated in local and federal teams to support the exporters and stand up to their most prominent challenges, pointing out that it has begun to discuss the sustainability of industrial production with various factories, and to launch various campaigns such as "Our factories are ready." To spread awareness about the industrial sector and its readiness, in addition to launching the service of "importing raw materials" through the establishment's external offices, through which 54 supply requests were dealt with.

Limited impact

The Executive Director of the Dubai Export Development Corporation, Saed Al-Awadi, stated that the corporation had detected a limited impact of the Corona pandemic on foreign trade indicators, but the effect might be clearer in retail trade, due to the decline in global tourism movement. He expected Dubai to be at the forefront of the Gulf cities that recover Pre-pandemic growth levels, with their advanced infrastructure and crisis efficiency.

He said, "The Foundation has deliberately participated in virtual exhibitions and organized conferences via the Internet with all partners, whether from government institutions or from the private sector at home and abroad."

Commercial promotion in the absence of travel and organizing exhibitions

The Executive Director of the Dubai Exports Development Corporation, Saed Al-Awadi, said that the corporation works in coordination with various international business centers in the exhibition and promotion sector, in light of the absence of travel and the absence of foreign exhibitions for exporters.

As for the new methods of commercial promotion, which the corporation used to compensate for the period of closures and travel bans in the world during the last period, Al-Awadi added: “We work by supporting virtual events and organizing virtual direct business meetings, which work to replace the usual contact with merchants.”

He pointed out that the various virtual exhibitions and meetings, in addition to holding training workshops on products and export, topped the scene, and the Foundation worked on them significantly, and participated in many of them.

Al-Awadi confirmed that the Foundation will return to its normal activities as soon as the pandemic ends, pointing out that with the relative importance of the African continent, the first trade missions that the Foundation will organize during the next year will be to one of the African markets.

On how trade continues to grow with lower levels of promotion, Al-Awadi said that “smart, electronic resources and means of communication are a support tool, and enhance doing work, and also help most companies deliver their products at the present time,” indicating that they may be prepared in such periods. An order bridges a temporary loophole, but companies still see that direct communication supports their decision-making plans and customers.

- Dubai's trade withstood in the face of "Corona" due to the emirate's diversified and distinguished export portfolio.

Decline in the luxury trade, in return for increased trade in food commodities and medicines.

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