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Dubai’s Non-oil Trade with Asean Countries Increases 30.4 Per Cent

DUBAI — The non-oil trade between Dubai and the Association of South-East Asian Nations (Asean) countries, which includes Malaysia, Thailand, Singapore, Indonesia, Vietnam, the Philippines, Myanmar (Burma), Cambodia, Brunei and Laos, accounted for Dhs23 billion in the first half of 2008, compared to Dh17 billion recorded during the same period of 2007.

This amounted to a growth rate of 30.4 per cent.

Dubai’s imports from Asean during the period grew by 28.4 per cent, while exports showed an increase of 29 per cent and re-export 84.3 per cent, according to figures released by the Statistics Department of Dubai World.

Saeed Alqaizi, Director of Group Procurement, Contracts, Statistics and Gen. Admn., Dubai World, said: “The UAE, particularly Dubai, has strong trade and economic relations with Asean countries based on close co-operation in various areas, free capital flow, joint ventures and mutual investments. This has reflected very positively in the impressive growth of trade between the economies over the years.

According to the current data available, there are clear indications for sustaining this trend in the coming years.”

Nassim Al Mehairi, Acting Head of Statistics Department, said: “Trade between Dubai and Asean jumped by Dh5.3 billion during the first half of 2008 to reach Dh23.038 billion compared to Dh17.667 billion in the first half of 2007.

“Imports have the lion share of the total trade volume in the first half of 2008, accounting for Dh20.015 billion while exports amounted to Dh1.881 billion and re-exports Dh1.141 billion.”

The latest figures released by Statistics Department also revealed that Malaysia topped the list of Dubai’s trade partners among the Association of South-East Asian Nations countries during the period.

Malaysia accounted for 34.3 per cent of the total non-oil trade between the two sides amounting to a value of Dhs7.911 billion during the first six months of 2008.

Second in the list is Thailand with 24.8 per cent, amounting to Dh5.720 billion. Singapore was third with 18.4 per cent at Dh4.260 billion.

Indonesia came fourth with Dh3.467 billion, followed by Vietnam with Dh1.021 billion, the Philippines with Dh492 million, Myanmar (Burma) with Dh126 million, Cambodia with Dhs28 million, Brunei with Dh8 million and Laos Dh1.7 million.