Dubai Chamber members’ exports reach Dhs54.8bn in Q1 2021, up 6% y-on-y

During the first quarter of 2021, the value of Dubai Chamber of Commerce and Industry members’ exports and re-exports grew by 6.5 per cent year-over-year to reach Dhs54.8bn.

The value of exports and re-exports carried out by these members increased by nearly 24 per cent to reach Dhs22.1bn in March 2021, compared to March 2020.

A total of 166,759 certificates of origin were issued by Dubai Chamber during Q1 2021, with 62,235 certificates issued in March alone.

Over 6,000 new member companies joined Dubai Chamber in the first three months of 2021, marking a growth rate of 38.6 per cent year-on-year.

Also, there were 174,000 electronic transactions processed by the Chamber in the first quarter 2021, while the number of ATA Carnets (an international customs document that permits duty-free and tax-free temporary importation of goods for up to one year) that were issued and received by the Chamber reached 965 over the same period, amounting to Dhs1.4bn.

Read: Dubai’s non-oil external trade reached Dhs1.182 trillion in 2020

Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, said the statistics reflect improving business conditions in Dubai and the positive impact of various stimulus packages and business-friendly measures, as well as an advanced logistics infrastructure and increased efforts to boost and diversify the emirate’s foreign trade.

The value of @dubaichamber members exports and re-exports increased by nearly 24% to reach AED 22.1 billion in March 2021, compared to March 2020. During Q1, the value of member exports and re-exports grew by 6.5% year-over-year to reach AED 54.8 billion. #Dubai pic.twitter.com/Y88i6ZtAUw

— Dubai Media Office (@DXBMediaOffice) April 11, 2021

Buamim noted that Dubai Chamber’s 11 international offices play a crucial role in expanding Dubai’s trade links with promising markets around the world, by identifying bilateral business opportunities, promoting the emirate as a global business hub, and assisting foreign investors who are keen to enter the market, reported WAM.

According to a recent directive issued by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, the Dubai Chamber will be restructured to create three new chambers of commerce: Dubai Chamber, Dubai Chamber of International Trade and Dubai Chamber of Digital Economy.

Read: Sheikh Mohammed restructures Dubai government; approves five-year foreign trade plan

Sheikh Mohammed has appointed Juma Al Majid as the Honorary Chairman of Dubai Chamber, Abdulaziz Al Ghurair as the Chairman of Dubai Chamber, Sultan bin Sulayem as Chairman of Dubai Chamber of International Trade and Omar Al Olama as Chairman of Dubai Chamber of Digital Economy.

A higher committee, led by Abdulaziz Al Ghurair, will be formed with the three chairmen to develop a new strategic plan for the three chambers.

Sheikh Mohammed has approved a five-year plan to increase Dubai’s foreign trade from Dhs1.4 trillion to Dhs2 trillion.