Business | General
Dubai's export market continues to grow
Number of destinations increased to 163 in 2009
- By Aya lowe, Staff Reporter
- Published: 00:00 February 25, 2010
- Image Credit: Source: Dubai Chamber of Commerce
- Dubai Chamber's 2009 performance
Dubai: The Dubai export market is continuing its steady growth this year and it is set to continue into next year, accordingly to industry experts.
According to the Dubai Chamber of Commerce and Industry's annual report for 2009, the number of export destinations increased to 163 in 2009.
According to the World Trade Organisation, the GCC is the world's biggest importer of food with more than 90 per cent originating abroad.
"The region ranks as one of the world's biggest food importers and Dubai is the dominant commercial centre and trading house of the Middle East food sector and an important driver for export business growth," Hilal Saeed Al Merri, CEO of the Dubai World Trade Centre, said at a press conference.
According to Hamad Bu Amim, Director-General of the Dubai Chamber, Dubai's imports of fruit and vegetables increased 12 per cent in 2009 and the number of food and beverage companies registered with the Dubai Chamber rose from 1,300 in 2006 to 1,500 in 2009.
Strong position
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Nicholas Stadmiller, senior executive of the Chamber's Business Support Department, said in a recent conference the majority of Dubai's imports of foodstuffs are re-exported, contributing to the growth of the market.
In 2008, Dubai exported approximately Dh1.4 billion of locally processed sugar. The emirate also exported dates, figs and mangoes to the value of Dh285 million that year.
The Dubai Chamber report says the value of exports and re-exports by the Chamber's members in 2009 touched Dh186.1 billion, up from Dh167.9 billion in 2007 but lower than the amount calculated in the boom period of 2008 which was Dh221.3 billion, further demonstrating the country is on the path to recovery.
Dubai's position as a premier choice for investors in the region will ensure its continued growth, according to Bu Amim.
"Dubai is an attractive starting point for new and established food businesses as the emirate enjoys the status of an East-meets-West destination and caters to a wide variety of investors and exporters using its base to expand their businesses worldwide.
"Dubai's top-class transportation infrastructure and expertise in re-export activities serve as the icing on the cake," he said in a recent conference.
Bu Amim said the completion of infrastructure projects like the Dubai Metro puts Dubai in a strong position.
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