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Traders bullish about industry in Dubai

Trade expected to grow in 2018, driven by growing demand, price competition, according to Dubai Chamber survey

Gulf News

Dubai

Dubai’s trade sector is expected to grow in 2018, driven by factors that include increased demand, price competition and accessibility, according to a survey from the Dubai Chamber of Commerce and Industry.

Results of the Dubai Chamber Traders Outlook Survey 2018 show that traders of household goods were most optimistic about their performance in 2018, followed by those operating in machinery, consumer goods and textiles.

Many of the traders surveyed said they are planning to increase efficiency, cut costs and use e-commerce as ways of boosting competitiveness.

In a statement on Thursday, the Dubai Chamber said that the survey outlined recommendations for businesses to address current market challenges, including introducing easier payment options, transporting in bulk and negotiating rents or considering new rental options.

Other recommendations included exploring new markets in Africa and Latin America where there may be more growth opportunities.

Brazil was identified as the top market in South America for UAE exports, followed by Ecuador, Peru, Guyana, Paraguay and Argentina.

Among the products that offered some of the highest competitive advantage to UAE exporters were aluminium, ships, organic chemicals and precious metals and stones as these products could be in demand in growing South American markets.

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