Initiatives of the emirate government have helped the export sector develop and grow

Two trillion dirhams of Dubai's foreign trade by 2026

• The future of export in the UAE and Dubai is promising.

  AFP

• The foreign trade sector is a major tributary of Dubai's economy.

  AFP

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The foreign trade sector represents a major tributary of Dubai's economy, based on a long history in which the emirate asserted its position as a pivotal center for global trade.

Dubai has succeeded in building a competitive and sustainable economy, relying on several main sectors, most notably the foreign trade sector, which includes export, re-export and manufacturing as important tributaries to the emirate's economy.

Dubai's trade recorded record growth during the first half of 2021, as the value of Dubai's non-oil foreign trade recorded a record growth of 31% to 722.3 billion dirhams during the first half of 2021, compared to 550.6 billion dirhams for the same period in 2020, also exceeding the results of The first half of 2019 (before the pandemic), which recorded 676 billion dirhams, while the emirate aims to reach its foreign trade to two trillion dirhams during the next five years (by 2026), according to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE Ministers, Ruler of Dubai.

competitive economy

In detail, Dubai has succeeded in building a competitive and sustainable economy, relying on several major sectors. The foreign trade sector has emerged, including export, re-export and manufacturing, as an important tributary to the emirate's economy. The Dubai government has worked to help this sector develop and grow, through all measures and initiatives to ensure that, Including the discovery of new export markets and the use of Dubai’s strategic location in linking world markets, through its ports, airports and unparalleled logistics services, as well as organizing exhibitions and sending trade missions and delegations abroad, to discover markets and conclude deals that contributed to achieving record levels in export numbers to markets. International, in a manner that supports the openness of Dubai's economy to the world, and the adoption of foreign trade as an essential element for achieving economic growth.

Dubai has worked to harness its potential and position as a commercial center for the region, to support trade flows in the region and the world. The relative advantages of Dubai are great, especially in the field of export and re-export of goods and services, foremost of which are air and sea transport services, travel and tourism.

The emirate also enjoys a comparative advantage in sectors beyond ports, logistics and air transport, in services that enhance trade flows to and from Dubai, and Dubai can play a major role in supplying them, such as technology and logistics related to e-commerce.

economic pillars

The industrial sector, which consists of manufacturing, construction, electricity, gas and water supplies, mining and quarrying, is one of the most important pillars of Dubai's economy, and an integral part of the exports sector.

The Dubai Industrial Strategy 2030 aims to enhance the global competitiveness of the industrial sectors and make them a powerful engine for economic growth.

The main objectives of the strategy focus on: Transforming Dubai's industrial sector into an innovation-based, preferred home for global companies, environmentally sustainable, and supporting a green economy.

The trade sector represents an essential tributary of Dubai's economy, based on a long history in which the emirate asserted its position as a pivotal center for global trade.

Dubai's trade recorded record growth during the first half of 2021, an achievement that was achieved in light of the commitment to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to increase Dubai's foreign trade to two trillion dirhams during the next five years ( by 2026).

data and numbers

Dubai's non-oil foreign trade recorded a record growth of 31%, to 722.3 billion dirhams during the first half of 2021, compared to 550.6 billion dirhams for the same period in 2020, also exceeding the results of the first half of 2019 (before the pandemic), which recorded 676 billion dirhams.

Exports witnessed a remarkable growth of 45% to reach 109.8 billion dirhams, compared to 75.8 billion dirhams, which enhances the development of the UAE's exports according to the objectives of the strategy of the 50 projects, while imports increased by 29.3% to 414 billion dirhams, compared to 320 billion dirhams And re-exports recorded a growth of 28.3% to 198.6 billion dirhams, compared to 154.79 billion dirhams.

The volume of e-commerce in the UAE is expected to reach about $27 billion (100 billion dirhams) in 2022, with a growth rate of 23%, noting that e-commerce sales in the country recorded $ 19.7 billion (72.3 billion dirhams) in 2020. China and the United States are considered Saudi Arabia is one of the main partners in Dubai's trade.

Dubai Chamber

For its part, the exports and re-exports of members of the Dubai Chamber of Commerce achieved a remarkable growth during the first half of 2022, at a rate of 17.8% compared to the same period last year, reaching 129.4 billion dirhams, which reflects the flexibility of Dubai merchants and their ability to benefit from services and advantages. provided by the Chamber to diversify their export and trade destinations.

The remarkable growth rates this year in member exports and re-exports reflect the size of the efforts made in the Chamber's operations and their positive repercussions and impacts on the economic landscape of the Emirate of Dubai, and the ability of the local business community and its active role in leading the economic recovery phase.

The Dubai Chamber confirmed that it is committed to achieving the goals of the Dubai Foreign Trade Plan announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which provides for raising the value of the emirate's trade to two trillion dirhams by 2026, considering that the new initiatives The Chamber focuses on supporting the trade sector, and the emirate's merchants, in their external expansion, and their easy and smooth access to targeted foreign markets.

It expects 2022 to be an exceptional and record year in terms of export performance and support for the external expansion of exporters and traders.

exporters

For his part, Director of Operations at Al Baraka Dates Factory, Abdul Karim Salem, said that “the main work of his company is to export locally produced dates abroad, and that Dubai’s strategic location is one of the most important elements that support the company’s export capabilities to access world markets, whether regional. Or even international, far away in Latin American countries,” noting that “Dubai’s exports are one of the most important fixed assets on which the emirate’s economy is based, as it is part of the foreign trade sector.”

He explained that "Dubai has created the appropriate environment to support and support the export and re-export sector, based on its clear vision to stimulate the private sector to enter the industrial and trade sector and help it conquer foreign markets, through its efforts to open markets through direct and indirect marketing means."

Abdul Karim said, "The clearest evidence of the emirate's interest in export and trade is its clear interest in the transport and shipping sector, ports and airports, which is an essential and important aspect to support trade," noting that "the emirate owns one of the most important ports in the world at all, which is Jebel Ali Port, and one One of the most important international airports is Dubai Airport,” explaining that “the emirate was not satisfied with that, but rather developed the internal transport and shipping sectors through modern roads and infrastructure that make it easy for exporters to complete shipping their products to importing countries, as well as facilitating the import of materials and goods necessary for operations. Re-export or local production and manufacture for export.

merchandise and merchandise

He added: "Goods, goods and people can simply reach from Dubai to any location in the world easily, as the logistical capabilities are great, and the ability to access is limitless, especially with the clear support of the Dubai government, represented by the Dubai Export Development Corporation, which It cooperates closely with the private sector, and its efforts are tangibly reflected on the performance of exporting companies.”

Abdul Karim praised the efforts of the Dubai Chamber of Commerce in supporting and encouraging the export performance of companies operating in Dubai, noting that his company is located in Dubai Industrial City, and exports its products to Latin American markets, thanks to the strength of the infrastructure of Jebel Ali Port, which made export easy for The exporters, pointing to the efforts of the Dubai government in organizing exhibitions and sending trade delegations, to explore and open new markets, by providing the necessary information and data that support the efforts of exporters in exporting local products to international markets.

He continued, "Thanks to these efforts, UAE dates are available to consumers in Brazil and Chile, through supermarkets and food markets," noting that his products reach about 117 countries around the world.

Abdul Karim said, "The future of export in the UAE and the Emirate of Dubai is promising, thanks to the wise vision of the wise leadership, which provides all assistance to the private sector and has created the necessary climate for business growth and the creation of an attractive economic and investment environment, including easy procedures, strong infrastructure and great moral support for companies operating in the country. ».

Moving Forward

For his part, CEO of SAM Precious Metals Company, Sami Abu Ahmed, said, "Dubai is not only a strategic location, but despite the importance of its location, which links the continents of Africa and Asia, Dubai is basically a developed strategic thought that improves the use of The location and other resources with vision and planning make it always move forward,” referring to the ability of Dubai International Airport to receive flights, and the position reached by Emirates Airlines, which has become a vital carrier for passengers and goods across Asia and Africa with a large number of weekly flights to different destinations.

He added, "One of the most important sectors that support trade and export is the sector of banks and financial institutions in the UAE. The country has the largest financing companies and the largest banks that appear to be local, but their capabilities are on a global level, and they have liquidity in foreign currencies and offices spread in all locations." Pointing out that "the country has provided the trade and export sector with economic and social openness, through a large population diversity, where more than 200 nationalities live, which gives it a special status as the commercial capital of the world, able to innovate and deliver goods and services to all consumers around the world." .

Abu Ahmed pointed out that “the re-export sector is one of the most important economic sectors in Dubai, as the emirate is an international center for re-export, with its infrastructure that includes several factors, including smart and electronic government initiatives, and government facilities, all of which help the sector to thrive, due to its provision of effort. And the cost,” noting that “export companies take advantage of the exhibitions organized by Dubai, which they also participate in, to promote their exports.”

He said that his company works in the export of gold and silver, and that the most important aspect of the company's work is to employ the most important international expertise in the field of gold and silver purification and manufacture, by working with experts specialized in this field, who provide the knowledge and scientific research necessary to drive productivity and provide a high-quality product. , bears the logo (Made in the UAE).

logistics services

In turn, the CEO of NRTC for the trade of vegetables and fruits, Muhammad Rifai, said that "the level of logistics services provided by Dubai to companies operating in it and to the world, through its ports and airports, is not available like in any country in the region, which is One of the most important aspects that contribute to the strength of Dubai’s exports and foreign trade, as the emirate is a transit point for goods and merchandise between the Far East, Europe and Africa.”

He added that "Dubai's exports are supported by the infrastructure that includes the organized real estate sector, which provides offices, warehouses and housing for workers in the trade sector, and most importantly is the appropriate legislative structure for the trade sector, allowing the flexibility of companies' work and helping them to double their efforts, which is reflected and we see on the performance of exports and return exports.”

Rifai said, "The re-export sector enjoys tremendous potential and remarkable facilities from the government agencies sponsoring it," pointing to the solidarity of the public and private sectors, in order to maintain the strength of the trade sector, which is one of the most important economic sectors on which the emirate's economy is based.

He pointed out that "the state helped exporters open foreign markets, and removed the challenges that could face the flow of goods through ports and airports, and it became the first among the world's leaders in exporting."

Rifai said, "The export sector in Dubai is very flexible, which has been evident over the past years, through the state's wise dealing with the repercussions of the Corona pandemic, as it was able to protect its people and residents on its land, and at the same time, the wheel of production and work did not stop, What contributed to securing the presence of goods in the markets, despite the closures that all countries of the world witnessed,” noting that “exporters in Dubai have traditional markets, and they are always working to discover new and alternative markets, in a way that secures goods for the world and the local market, as the priority of the state, It is to provide the necessary commodities for the local market and also to secure them to the countries of the world in order to help them meet their needs.”

Targeted Promotion Programs

 Intensive efforts to enhance Dubai's position as a global platform for export and re-export.

archival

Dubai Exports Development Corporation, one of Dubai's economic institutions, works on a variety of events and promotion programs aimed at promoting Dubai's exports and re-exports through it, in addition to working to expand the scope of products and services from Dubai to all over the world. The Corporation's agenda reflects its continuous efforts, To follow in the footsteps and directives of the wise leadership represented in strengthening Dubai’s position as a global platform for export and re-export, capable of global competition, to be a major participant in the economy of Dubai and the UAE in general.

Market diversification is the most prominent strategy of the Corporation, through participation in exhibitions and trade missions, which focus on emerging markets and sectors, and allowing UAE exporters to explore new markets and reach fruitful partnerships.

The Corporation works on providing opportunities for exporters to participate in exhibitions and trade missions in various international markets, as well as organizing bilateral business meetings between local companies and their foreign counterparts, allowing local exporters and potential international buyers to explore opportunities for establishing business partnerships.

31%

Record growth in Dubai's foreign trade to 722.3 billion dirhams during the first half of 2021.

129.4

One billion dirhams of exports and re-exports of Dubai Chamber of Commerce members during the 6 months of 2022, with a growth of 17.8%.

■ Dubai is a gateway for goods and merchandise between the Far East, Europe and Africa.

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Sectors that built Dubai's economy

The Emirate of Dubai has achieved widespread global fame, making it a global destination for the economy, attracting capital and entrepreneurs from different countries, and becoming a springboard for many billion companies thanks to its advanced infrastructure and flexible legislative environment.

Several sectors have contributed to the growth of the emirate's economy and achieved leaps and bounds in all fields over the past years. Perhaps the most prominent of these sectors are: aviation, tourism, retail, technology, real estate, foreign trade, manufacturing and financial services.

The aviation sector continued to support the growth of Dubai's economy with high rates of passenger flow and linking the emirate to the outside world.

Dubai International Airport is an essential tributary to the emirate's economy, and a major enabling factor in the growth of the country's trade volume in general, and Dubai in particular, with various global markets.

The tourism sector has contributed to the diversification of the emirate's economy, as Dubai has huge tourism potentials and a developed infrastructure that has made it a favorite destination to visit throughout the year.

The retail trade sector is one of the activities that support the growth and diversification of Dubai's economy, as it has contributed to keeping pace with the economic development movement in the emirate.

The real estate sector has also recorded remarkable growth levels during the last period, as Dubai has become a magnet for investors from all over the world.

Dubai real estate witnessed a significant improvement in its investment attractiveness with the high return on investment from leasing it thanks to the stimulating measures.

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