China is Dubai’s top strategic partner with 81 per cent growth in trade in the last ten years to make Dh139 billion ($37.8 billion) in 2018 compared to Dh77 billion in 2009, said Ahmed Mahboob Musabih, director general of Dubai Customs.
Musabih was speaking during discussions to boost cooperation between Dubai and China with representatives of more than 20 Chinese companies headed by the Chinese Consul General to Dubai Li Xuhang.
Discussions covered investment opportunities and the role played by PCFC in port and free zone management and how to benefit from its experience in this field. The visitors were briefed on Dubai Customs experience in developing and sustaining customs systems and international supply chain.
“Dubai and China have strong relationships and a long history of cultural and trade cooperation. China comes first on DP World’s agenda in Asia, and we have strong presence through the terminals DP operates,” said Musabih.
“We are happy to see more interest from the Chinese companies to invest in Dubai and a stronger presence in Jebel Ali Free Zone (Jafza). This encouraged us to launch the Traders Market; the first smart free zone market place in the Middle East for the retail and wholesale industries. It allows international traders to procure bulk products in Dubai at wholesale prices, and supports Dubai bold plans including the Dubai Silk Road,” he added.
There are 876 Chinese companies registered at Dubai Customs. These include 623 companies with trade licenses, 244 with free zone licenses and 9 with professional licenses, Musabih explained.
“Dubai trade with China saw 4 per cent growth to reach Dh71.4 billion in the first half of 2019 compared to Dh68.8 billion in the same period in 2018. There are strategic agreements between the UAE and China including the recently signed mutual recognition Authorized Economic Operator agreement which will facilitate trade, especially with the advent of Expo 2020” Musabih said.
Nasim Al Muhairi, director of the Statistics Department at Dubai Customs said Dubai imports from China during the first half of 2019 reached Dh63.9, exports made Dh2.7 billion and re-exports made Dh4.8 billion.
“Dh36.6 billion is the outcome of sea trade, air trade accounted for Dh24.7 billion and trade by land reached Dh10 billion. Phones topped commodities imported from China with Dh21 billion, followed by computers with Dh6.9 billion and microphone and earphone sets with Dh1.2 billion” she explained.
Nemanand Bobade, project manager at Project Delivery Department said: “E-commerce strategy has been recently adopted in Dubai and the strategy is expected to boost and promote the emirate as a global electronic and logistics hub. E-commerce is expected to contribute to Dh12 billion to the Gross Domestic Product by 2023.” – TradeArabia News Service