With a growth rate of 74% during the first half of 2021
67 billion dirhams of Dubai's trade with India in 6 months
During a meeting organized by Dubai Customs via video conferencing with an Indian economic delegation.
From the source
Ahmed Mahboob Musabih, CEO of Ports, Customs and Free Zone Corporation and Director General of Dubai Customs, praised the constructive trade cooperation with India, which is Dubai’s second trading partner, as the value of Dubai’s trade with India recorded 67 billion dirhams during the first half of this year, with a growth By 74%, compared to the same period last year, which amounted to 39 billion dirhams.
He explained that the emirate's trade with India was distributed between imports worth 32 billion dirhams, exports worth 19 billion dirhams, and re-exports worth 16 billion dirhams, noting that among the most important exchanged goods were diamonds with a value of 20.8 billion dirhams, gold with a value of 10.4 billion dirhams, and products Petroleum oils at 4.3 billion dirhams, and phones and communications equipment at 4 billion dirhams.
meetings
This came during a meeting organized by "Dubai Customs" via video communication technology with an Indian economic and trade delegation, in the presence of Mosbeh, and the Consul General of India, Dr. Aman Puri.
The department confirmed, in a statement yesterday, that it continues its intensive meetings with the diplomatic authorities and bodies of friendly countries and trading partners within the "Etitibat" initiative, which it recently launched to develop the relationship with companies and foreign business sectors, increase trade exchange, and support the level of customs services and facilities provided to traders and investors.
achievements
During the meeting, Musabeh reviewed the most important achievements made in the current year and Dubai Customs' vision for the next year, pointing out that the department is working on developing effective models and innovative services to support the business of its trading partners and reduce costs for them, as well as speed up commercial operations.
He stressed that any success achieved by "Dubai Customs" is a success for its partners who support its journey, pointing out that the percentage of customers' happiness about Dubai Customs' smart services has reached about 98%.
During the meeting, a presentation was given about the approved economic operator program, the cross-border e-commerce platform, and the role of protecting intellectual property rights at Dubai Customs.
recovery
For his part, Puri said that the levels of bilateral trade between the UAE and India are showing signs of a strong recovery, after the exceptional global measures of the "Corona" pandemic led to a relative decline during the past year.
He added: "We can confirm that constructive talks in order to reach a comprehensive economic partnership agreement between the two countries culminate in a long history of economic, trade and investment relations, which would strengthen relations, expand economic and investment capabilities, and usher in a new era of strategic cooperation between the two countries."
Puri expected that this agreement would lead to an increase in bilateral trade in goods to about $100 billion in the next five years, and in services to about $15 billion, which would increase the prospects for economic and job opportunities in the UAE and India.
customs regulations
CEO of Ports, Customs and Free Zone Corporation and Director General of Dubai Customs, Ahmed Mahboob Musabih, said:
Dubai Customs is keen to develop pioneering customs systems that work around the clock, seven days a week, such as the “Mersal 2” system and the “Intelligent Risk Engine” system. The department has also developed a smart early disclosure system to facilitate travelers coming to the country through Dubai airports .
• Diamonds were among the most important commodities exchanged, with a value of 20.8 billion dirhams.
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