DEDC to set up more offices overseas to boost exports

With an objective of spreading its geographical presence in the international markets, Dubai Export Development Corporation (DEDC) has prepared a blueprint for medium-term strategy to improve the exports volume.

The blueprint includes key measures like setting up international offices overseas, improving export credit insurance to exporters, etc.

The DEDC has identified 10 products and 10 services to strengthen the existing presence and to tap new markets to enhance its overall performance in the global trade, according to a top official at DEDC.

CEO Saed Al Awadi told Emirates Business: "As part of our initiatives, we have identified 10 products, 10 services and 10 markets for increasing Dubai's share in the world market. We provide export credit insurance to exporters, which can shield them for unforeseen problems. The DEDC has set up a credit insurance company for providing credit insurance, which ensures no risk for exporters.

"We have our own insurance strategy and debt collection infrastructure. Earlier, in the open account system, there was risk involved. There was no protection, when customers default. We provide same open account with insurance protection."

The DEDC has identified certain broad target sectors, in which Dubai exporters can compete with other nations in the global markets.

The list includes precious metals and stones, iron and steel, plastics, electrical machinery, aluminium, printing and paper, minerals, fuel and oil, furniture, processed foods, ceramics, financial services, business process outsourcing, media services, shipping, IT and e-governance, to name a few.

Elaborating on DEDC's medium-term and long-term strategies to improve the export performance in the global markets, Al Awadi said: The DEDC is in the process of setting up foreign offices in different countries to facilitate Dubai exporters to tap the available opportunities. We started our foreign office in India last year. We are planning to set up more international offices. "We will have international offices in 18 countries over next three years. In the first phase, the DEDC will set up six international offices."

The DEDC is promoting logistics and supply chain sector and towards this, it has identified key players to partner and coordinate activities so as to ease the burden on Dubai-based manufacturers. The co- approach between the government and industry would enhance the manufacturing sector's competitiveness. The DEDC is also working with manufacturers, said Al Awadi.