Dubai Improves Global Trade Status
The roles of technology and government policies in the trade industry are becoming of increased importance for the Dubai trade mission after a release highlighted the increased growth statistics this week.
According to the release, “Trade through free zones increased 22% to AED by 394.3 billion during the first nine months of 2018,” (Dubai Customs, 2018). ”
This along with several additional impressive numbers of growth solidify the focus and preparation for Expo 2020, scheduled for October 20, 2020 and is mentioned to hone in on the sustaining of “public happiness, welfare and prosperity and turn Dubai into a world class model,” by the Dubai Government Departments (Dubai Customs, 2018).
”We have an integrated strategy in place to develop the external trade performance further following the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and along with the guidelines of Dubai Plan 2021 and the UAE Centennial 2071. We are watching closely the changes taking place in the international trade and we will turn challenges into opportunities by entering new markets and expand our existing ones,” Director of Dubai Customs, Ahmed Mahboob Musabih stated in the release.
In addition to a 4.1% increase in seaborne trade and a 2.3% increase in airborne trade, China maintained the leading position as the largest trading partner with India closely following. India’s trade increased by 16% during this time as well.
As Dubai focuses on finishing the year strong, the city aims to “move ten years ahead of other city’s in fulfillment of the emirate’s vision” while increasing statistics and breaking new grounds through technology and government implemented initiatives.
Source: Government of Dubai