DCCI members’ exports, re-exports rise 22% in July

DUBAI — Trade activities in Dubai continues to rise as Dubai Chamber members’ exports and re-exports in July reached Dh20.9 billion that shows a 21.6 per cent jump over July 2010 on the strength of emirate’s business environment and its position as a viable investment destination in the region.

Speaking at the fourth annual Business Networking Suhoor hosted by Dubai Chamber on Tuesday night, Dubai Chamber of Commerce and Industry Chairman Abdul Rahman Saif Al Ghurair said: “These positive figures are an excellent indicator of the strength of Dubai’s economy going forward through 2011 as they paint an extremely positive picture across the board for both Dubai Chamber members and the emirate’s overall economic growth.”

According to the latest chamber members’ data for July, the number of Certificates of Origin issued during the month reached 62,556, which is also the highest number of Certificates of Origin issued during the 1st seven months of 2011.

The Certificates of Origin issued in July recorded a 14.6 per cent rise compared to the same month in 2010. The number of exporters in the month rose to around 5,000 and that goods were exported to 168 markets around the world.

Based on the exceptional performance of Dubai’s export and re-export sector, Al Ghurair informed that this particular sector is a driving force behind Dubai’s economic growth.

He emphasised that the outcome from the first seven months of the current year is very encouraging as the Chamber members’ exports and re-exports reached Dh141.2 billion, compared to Dh120.4 billion recorded in the same period in 2010, which is a significant increase of 17.2 per cent, he said.

Al Ghurair called upon the business community to benefit from the vast investment opportunities offered by the various economic sectors of the emirate, especially the trade sector which is showing positive signs of growth and reaffirms investors’ confidence in the enormous investment potential available in the emirate.

“The trade sector, including export and re-export, tourism, logistics and financial sectors are the basic drivers of the emirate’s economy and these are the sectors which have seen positive growth since the start of the year.

They will also continue to lead the emirate’s sustainable economic growth, while strengthening Dubai’s position as a leading trading hub in the future.

Whatever the global economic situation, Dubai will continue to offer good returns and peace of mind to its investors,” he added.

·         abdulbasit@khaleejtimes.comw