Dubai Customs: Re-export trade with China up by 60% in 2017
China has retained its position as Dubai’s top trading partner, according to a statistic released by Dubai Customs, which comes in line with the milestone visit of President Xi Jinping of China to the UAE. Dubai’s foreign trade with China grew by 6 percent to reach AED176.4 billion in 2017, compared to AED166.35 billion in 2016.
The most notable growth occurred in Dubai-China re-exports trade is the rise by 60 percent, from AED4.99 billion in 2016 to AED7.97 billion last year.
Exports also soared 38 percent to stand at AED1.23 billion against AED897 million, while imports recorded a 4 percent growth from AED160.47 billion to AED167.2 billion.
"The booming two-way trade between Dubai and China is a testament to the deep and exemplary relationship enjoyed by our friendly nations," said Sultan Ahmed bin Sulayem, DP World Group chairman and CEO and chairman of Ports, Customs and Free Zone Corporation.
"Dubai is a key re-export gateway for China’s trade with different markets around the world, and we are committed to providing the best of facilities and services to the Chinese business community to ensure this bilateral trade continues to grow and to further reinforce the UAE-China partnership," he added.
Bin Sulayem said that this is particularly relevant given the UAE’s position at the centre of China’s proposed Belt and Road plan, which will see Dubai playing a vital part in connecting countries and markets involved on the new silk road.
"To further promote Dubai’s strategic role in China’s external trade with the world, Dubai Customs spares no effort to better streamline and simplify procedures for Chinese traders to help get their goods into final markets in the most timely and cost effective manner," Ahmed Mahboob Musabih, Director of Dubai Customs, said.
Follow Emirates 24|7 on Google News.