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22 April 2024

Dubai Exports shares expertise to help boost Gulf exports

By Staff

Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, recently received a high-level delegation from Bahrain to discuss cooperation in the field of export development, application of best practices and knowledge-sharing.

The discussions were part of supporting producers and exporters in Bahrain and implementing the Bahrain Economic Vision 2030 to diversify sources of income and support the non-oil sectors through the establishment of a centre to encourage exports from the Kingdom.

The visiting delegation, headed by Abdulkarim Ahmed Rashid, Assistant Undersecretary for Industrial Affairs in the Ministry of Industry and Commerce in Bahrain; also included Shaikh Hesham Mohamed Al-Khalifa, Deputy General Manager, Non-Financial Services Division in Bahrain Development Bank as well as representatives from Tamkeen labour fund; Bahrain Economic Development Board; Bahrain Chamber of Commerce and Industry.

Members of the delegation and Dubai Exports representatives exchanged experiences related to export development bodies as well as the mechanisms of setting them up and ways in which such agencies can support exporters and local industries.

Commenting on the delegation’s visit, Engineer Saed Al Awadi, Chief Executive Officer of Dubai Exports, said: “The visit shows the level of appreciation among countries in the region for Dubai Exports as the first such agency of its kind in the GCC and for its role in developing foreign trade in general and exports in particular.”

Al Awadi noted that the value of GCC exports to the world reached nearly US$928 billion in 2011 compared to US$663 billion in 2010. Non-oil exports from the GCC enjoy a substantial share of the international markets and reached the equivalent of US$246 billion in 2011, an increase of US$45 billion over the previous year.

“We look forward to co-operate in all fields to enhance the exchange of experiences and best practices in trade, as the Gulf region is known as a hub for trade due to various reasons, including a favourable geography. Establishing dedicated agencies for the development of exports will boost the growth of trade between GCC and the rest of the world,” added Al Awadi.

Dubai Exports has closed a highly successful year facilitating five billion dirhams worth of exports through local firms and factories in 2012, as against three billion dirhams in 2011. The networking and matchmaking opportunities as well as support services provided by Dubai Exports to boost exports and re-exports through Dubai also led to 92 deals being concluded in 2012, an increase of 119 per cent over what was accomplished in 2011.

The exceptional results achieved in 2012 underlines the strategic focus of Dubai Exports and its growing role in expanding the export profile of local firms in Dubai to add substantial value to the emirate’s gross domestic product (GDP).