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Dubai Exports and Re-exports Surge a Combined 42pc

The DCCI, by posting an 11 per cent rise in value of Certificates of Origin (CO) issued to exporters, emerged as the world’s number one in terms of the number of COs issued in a year, according to the World Chambers Federation (WCC).

Eng. Hamad Buamim, DCCI’s Director General, said the latest figures underscored Dubai business community’s resolve to face the global financial crisis and reflected the overall optimism about the emirate’s prospects as a global business and trading hub.

The DCCI also recorded a 14 per cent increase in membership in 2008 — from 108,573 to 121,175. The number of COs rose to 624,066 from 559,652, “a big jump in view of the present financial scenario,” he said. “The 2008 figures directly reflect Dubai Chamber’s efforts in supporting the growth of business and the promotion of Dubai as a global trading hub. In order to represent, support and protect the interests of the business community, Dubai Chamber has created a business-friendly environment by organising various B2B networking events while enhancing the competitiveness of its businesses in the global markets,” Buamim said.

According to Dubai World’s Statistics Department, the emirate’s total non-oil foreign trade, including imports, export and re-exports, surged 44.5 per cent to reach Dh705 billion in the first nine months of 2008 compared to the corresponding 2007 period. Projections by trade analysts estimated that with Dubai expected to maintain the momentum in the last quarter, total non-oil trade for 2008 would have crossed Dh940 billion. The final trade figures for 2008 are expected to be announced soon.

In the first three quarters, India sustained its position as the top overall trading partner of Dubai while China topped the list as Dubai’s main country of imports. In re-exports and exports, India was ranked as the top trading partner of Dubai.

· issacjohn@khaleejtimes.com