Dubai Chamber members’ exports, re-exports grow 6.1 percent to AED146.7 billion in

DUBAI — The Dubai Chamber members’ exports and re-exports surged to AED146.7 billion during 2017, a growth of 6.1 percent from AED138.3 billion in the corresponding period last year, with the chamber’s total membership hitting 210,000 by the end of the same period, rendering it one of the world’s largest membership-based chambers of commerce. A total of 8897 companies joined as members within the first six months of the year, while it saw its new membership increase by 10.9 percent year on year.

Hamad Buamim, President and CEO of Dubai Chamber, highlighted Dubai’s rapid progress on implementing its economic diversification plans, and noted that the new figures from the Chamber confirms the crucial contribution of the emirate’s trade sector to this strategy.

He explained that the growth in member exports came despite challenging global economic conditions, and added that Dubai-based companies have taken a pro-active approach to exploring trade and investment opportunities in promising markets around the world.

Saudi Arabia was the top export and re-export market for Dubai Chamber members with a value of AED51.9 billion. This figure reflects an18 percent growth rate compared to the same period last year when it stood at AED44 billion.

In this respect, Buamim said, “Trade relations between Dubai and Saudi Arabia continue to flourish and develop, and this is clearly reflected in the 18 percent growth in member exports and re-exports to the Kingdom over the first half of the year.”

In addition, he described the strong growth in new members at the Chamber as a result of increased cooperation between Dubai’s public and private sectors, which have formed important partnerships that have attracted foreign companies to Dubai and created a favourable business environment in the emirate.

The Chamber issued 465,680 certificates from January through June of this year at a rate of more than 2,500 certificates per day, and issued 69 ATA Carnets for goods worth AED24,6 million in addition to other value-added services designed to facilitate international trade and improve ease of doing business in Dubai.

During the first six months of 2017, Dubai Chamber heavily promoted Dubai as a leading trade and investment hub by participating in 56 outbound missions and activities across 38 cities in 33 countries, including Argentina, Brazil, India, Belgium, Germany, Ethiopia, Ghana, China, the United Kingdom, Uruguay, the Netherlands, and Zambia, among others.

Source: Emirates News Agency