According to the Chamber, Members of Dubai’s Chamber of Commerce and Industry recorded eight per cent growth in exports and re-export totalling Dh290 billion in 2013. In 2012, Exports and re-exports were Dh268 billion.
Also in 2013, there were added that around 13,000 new companies joined the Chamber, the highest number recorded by the Chamber in the last four years. President and CEO of Dubai Chamber Mr. Hamad Bu Amim said, the economic recovery in the Arab Spring countries has been an added value to boost overall trade performance across the emirate.
He attributed this growth in trade to the strategic relations that Dubai has with world markets, which helped increase two-way trade and investments.
Trade with Iran, however, one of the UAE’s main trade partners, witnessed a drastic drop in the last 3 years. The political argument about relieving the sanction against Iran will definitely improve the trade between the two countries and facilitate ways of payment, which has been the main obstacle in the past 3 years.
Bu Amim said that Dubai economy is expected to maintain the current upward trend driven by sentiment and optimism created by Dubai’s winning the Expo 2020 bid. “Expo is a big opportunity for businesses in Dubai and will continue to drive the economy in the next coming 6 years.”
The real estate sectors will be one of the main sectors to grow ahead of hosting Expo 2020. Real estate market is not a sustainable sector but will be transformed from a driver to an enabler of the economy in the short term.
Bu Amim added that the Chamber is planning to open 20 representative offices in different market over the next 5 years. Dubai Chamber is exploring opportunities for new offices in Angola, Ghana, Abuja Nigeria, Uganda, and Brazil, in the next two years.
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