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Government Plans Steps to Boost Foreign Trade

The ministry supports all initiatives and services to encourage manufacturers and exporters to compete globally by expanding their businesses and enter new markets outside the UAE, Eng Mohammed Ahmed Bin Abdul Aziz Al Shihhi, Director General of the Ministry of Economy, said.

“Additionally, the MoE [Ministry of Economy] is creating legislations and laws as well signing international agreements to liberate the foreign trade and assist local products to enter international markets,” Al Shihhi told a
 forum on Monday.

The forum called: “First Exporters Forum”, organised by Dubai Export Development Corporation, or EDC, to support local exporters. Entitled “Together to Support UAE Exports” the forum was attended by heads of different government departments and more than 250 UAE-based firms.

“The economy diversification is a national objective and we are working to unify all efforts to achieve this goal. Under the vision of the UAE rulers, we are strengthening our industrial and export sector to attain a robust economy in the future,” he said.

Eng Saed Al Awadi, Chief Executive Officer of EDC explained that the organisation is exploring different ways to promote the emirate’s exports both in the goods and service sectors. The forum allowed exporters to learn from various government departments and agencies involved in the export cycle.

The forum highlighted the importance of the certificates of origin and its importance to exporters along with the free trade agreements and opportunities for exporters respectively.

Dubai’s export turnover reached $11 billion in 2008 with more than 6,000 companies exporting from the emirate. Dubai has experienced 45 per cent growth rate in export over the last five years with 71 per cent of UAE net non-oil exports coming from Dubai, according to 
Nassim Saeed Al Muhairi, Senior Manager, Dubai Trade Statistics Department-Dubai World.

“Since the start of the 21^st century, export trade in Dubai has registered an average growth of 27 per cent posting record heights in the last five years. Dubai exports are expected to surge by 12 per cent by the end of 2009,” Al Muhairi said.

Among the key growth factors in export trade included world class facilities in ports, cutting edge technology and infrastructures, seamless government regulations for promoting industrial investments, favourable economic social factors, conducive business environment through business-friendly policies that foster growth in manufacturing sector which has reached 14.6 per cent of Dubai’s GDP. 
—abdulbasit@khaleejtimes.com