Hamdan bin Mohammed: We have presented the world with a unique model in addressing the economic and health implications of the Covid 19 pandemic

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Dubai succeeded in overcoming the challenges that faced global trade as a result of the Covid pandemic crisis during the year 2020, and the emirate was able to achieve a strong recovery in its non-oil foreign trade with the end of the unprecedented closure period that most countries in the world applied during the first half of the year 2020 to limit the spread of the pandemic, The second half of last year witnessed a rapid return to prosperity in the foreign trade sector, which showed a high ability to quickly adapt to the changes in the international trade environment, as the value of Dubai’s foreign trade in the year 2020 amounted to about 1,182 trillion dirhams, and the amount of trade in the second half of last year grew. Compared to the second half of the year 2019, by 6%, bringing the total amount to about 100 million tons in 2020, with an increase in the value of exports by 8% to reach 167 billion dirhams, while the value of imports amounted to 686 billion dirhams and the value of re-exports 329 billion dirhams.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said: “With this level of outstanding performance, the foreign trade sector proves its ability to achieve rapid recovery in the face of global crises, taking advantage of the effectiveness of the stimulus packages launched by the Dubai government under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, "may God protect him", which included several initiatives to support the foreign trade sector and enable it to play its vital role in order to remain an important tributary that supports the capabilities of the national economy and stimulates its new start in the fiftieth year in which we celebrate the Jubilee. Al-Dhahabi for the UAE, and we will establish during the next fifty years of the state’s life, leading to the implementation of the goals and initiatives of the UAE Centennial 2071.

His Highness the Crown Prince of Dubai added: “The outstanding performance of the foreign trade sector in 2020 supports the implementation of the Dubai five-year plan to raise the value of the emirate’s foreign trade exchange to 2 trillion dirhams, to establish the emirate its global position as a regional and international center for trade and investment, starting from the implementation of the new Dubai international trade map, which This includes expanding the emirate's shipping and air lines network to reach 200 new cities, in addition to more than 400 cities around the world that Dubai's shipping and air lines network is currently connected to.

His Highness affirmed that Dubai is constantly working to enhance its achievements by developing practical solutions that enable it to confront global crises and turn them into new opportunities. We have once again presented the world with a unique model in addressing the economic and health implications of the Covid-19 pandemic crisis, and we have moved deservedly to the post-crisis and economic recovery phase in particular. Let us progress steadily towards achieving global leadership in all fields.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group, Chairman of the Ports, Customs and Free Zone Corporation, Chairman of the Dubai International Chamber of Commerce, said, “The foreign trade sector managed to overcome the major obstacles that faced global trade in the year 2020 with great success, since the world started. By adapting to the Covid-19 pandemic by applying gradually opening measures to restore economic movement to normal, the momentum in the recovery of Dubai's foreign trade accelerated during the second half of the year 2020, so the value of Dubai's trade jumped in the third quarter of last year by 34% compared to the second quarter of it. In the third quarter, the value of foreign trade in the fourth quarter achieved a growth of 7%, to reach in the fourth quarter alone to 326 billion dirhams, which is the highest quarterly value reached throughout the year 2020, and an increase in the amount of goods in foreign trade was recorded in the second half of last year by 6% Compared to the second half of the year 2019, the amount of goods in Dubai's trade reached about 100 million tons during 2020, which shows the extent of the rapid recovery achieved by the sector to lay the foundation for a stronger recovery in the

Dubai trade during the year 2021, taking advantage of promising future prospects after the resumption of trade with Qatar and the start of trade with Israel, in addition to the positive impact of Dubai hosting the World Expo and launching its urban plan 2040, which opens new promising horizons for the emirate's development and economic progress.

He added: "Dubai attaches great importance to developing the foreign trade sector during the next stage, after the formation of the Dubai International Chamber of Commerce from among the 3 chambers of commerce of the emirate that were formed to restructure the Dubai Chamber of Commerce and change the work system in it to be the most important economic arm of Dubai in building new sectors and consolidating its global commercial role. Therefore, we place at the top of our priorities in the Dubai World Chamber of Commerce to respond to all the emerging requirements of all companies and investors to enable them to enhance Dubai World trade and push it for permanent development and continuous growth to progress steadily towards achieving the goals and objectives set by the wise leadership for the development of our national economy in the next fifty years.

The President of the Ports, Customs and Free Zone Corporation stated that all government agencies and institutions working to promote the growth of Dubai's foreign trade are working in full cooperation to reach the best results.

Dubai Customs plays its vital role in facilitating trade, facilitating tourism, travel and protecting society, as it launched its strategy 2021-2026, which sets nine main goals and four basic goals for the development of customs work during this period. The field of institutional agility among the various government institutions around the world, and Dubai Customs became the first government institution at the global level to obtain the "Agile Organization Accredited Organization" certificate by the Agility Global Institute for Advanced Business that specializes in evaluating institutions, and in terms of developing cooperation and coordination with export-financing agencies. Dubai Customs Memorandum of Understanding with Al-Etihad Export Credit Company, to enhance the exports of the Emirate of Dubai by enabling exporters to obtain solutions provided by the Union Export Credit Company in order to protect trade credit against the risk of default, while the department is working to organize the Fifth International Conference of the Approved Economic Operator Program in cooperation With the Federal Customs Authority and the World Customs Organization, which Dubai will host next May, for a better discussion

Trade opportunities and discussion of trade growth mechanisms.

Dubai's foreign trade in 2020 was divided into direct trade with a value of 711 billion dirhams, free zone trade at a value of 464 billion dirhams, and customs warehouse trade at a value of 7 billion dirhams, and the value of air transported trade amounted to about 559 billion dirhams, and the value of seaborne trade was about 421 billion dirhams, and the value of trade transported by land About 203 billion dirhams.

China came in the center of the first trade partner of Dubai, where the value of trade with it in the year 2020 was about 142 billion dirhams, followed by the center of the second trade partner, India, and the value of trade with it was about 89 billion dirhams, then in the center of the third trade partner, the United States of America, and the value of trade with it was about 61 One billion dirhams, and the Kingdom of Saudi Arabia came in the center of the fourth trade partner in the world and the first in the Arab Gulf region, with the value of trade with the Kingdom amounting to 54 billion dirhams, then Iraq in the center of the fifth trade partner in the world, and the value of trade with him amounted to about 41 billion dirhams.

Gold was the most valuable commodity in Dubai's foreign trade in 2020, with a value of 213 billion dirhams.

It was followed by land, mobile and smart phones with a value of 153 billion dirhams, diamonds with a value of 64 billion dirhams, petroleum oils, a value of 57 billion dirhams, and jewelry worth 47 billion dirhams.

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