Dubai Chamber members’ exports and re-exports reach Dhs 268bn in 2012
Dubai Chamber of Commerce and Industry’s members’ yearly exports and re-exports in 2012 recorded unprecedented growth rate in the Chamber’s long history reaching Dhs268bn, proving that the trade sector continues to be a leading driver of the emirate’s economic growth.
The Annual Report 2012 released by Dubai Chamber today indicates that the total value of its members’ trade was 9% higher than the same period in 2011, when exports and re-exports valued Dhs246bn.
Monthly exports and re-exports were greatest in May, with a monthly tally of Dhs28bn, which is the highest amount in any single month since the founding of Dubai Chamber in 1965 while the monthly figure of around Dhs20bn in February was the lowest during the 12-month period.
The annual data showed the number of certificates of origin (COs) issued for the year totalled 747,941 which is an increase of 7% compared to 698,056 COs issued in 2011. The month with the highest number of COs was May with 69,460, while the month with the lowest was August with 56,498 certificates issued.
H.E. Hamad Buamim, Director General, Dubai Chamber, said that Dubai Chamber’s new strategy of exploring key global markets had helped its members in the trade community expand their operations overseas.
"Our annual figures show that 2012 was a very successful year as our members achieved unprecedented monthly export figures. Trade, along with tourism, logistics and financial services, continue to play vital roles as key drivers of the emirate’s economic growth," said H.E. Buamim.
He said that Dubai Chamber had seen a 20% rise in its annual new membership, from 10,634 in 2011 to 12,733 in 2012, taking its total membership to over 140,000. This, His Excellency said, speaks volumes about the favourable business climate and ease of doing business that Dubai provides for companies from across the world.
"Our increase in members shows that foreign investors have confidence in Dubai, due to the unconditional support provided by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai to the business community," he said.
His Excellency said the highlight of the year for Dubai Chamber was opening its first ever international representative office in Baku, Azerbaijan, in order to facilitate two-way trade and investment flows between Dubai and Central Asia.
"This was a major step for Dubai Chamber and one that we are very proud of. In 2013 we are ready to follow this up with two more office openings in Kurdistan and Ethiopia and we will be examining the potential of various other promising markets of the world.
"This particular initiative is directed at improving the competitiveness of Dubai businesses abroad, while enhancing the business environment of the emirate. For this, Dubai Chamber is currently concentrating on enriching its global profile by playing a larger role in international trade and commerce through its association with world trade bodies," added H.E. Buamim.
Emirate: Dubai
Date: Jan 15, 2013
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