- September 23, 2021
- Posted by: Vimal Hemachandran
- Category: News
Dubai has built a solid foundation for the commerce sectors to thrive on throughout the years. Despite the pandemic, the value of Dubai Chamber members’ exports and re-exports climbed 21.8 percent year on year to Dhs147.3 billion in the January-August 2021 period, indicating a revival in the commercial activities sector.
The Dubai Chamber of Commerce and Industry stated that its members’ exports and re-exports increased by 43.9 percent year over year, hitting Dh21.4 billion in August 2021. In August 2021, the Dubai Chamber issued 58,154 certificates of origin, up from 48,129 certificates in July 2021. Between January and August 2021, the GCC was the biggest export market for Dubai Chamber members. During the month, GCC markets accounted for 53% of all exports and re-exports by members.
Hamad Buamim, president and chief executive of Dubai Chamber, said the figures demonstrate the strength and resilience of Dubai’s trade sector, which is seeing increased momentum as Expo 2020 Dubai approaches.
With the coming of Expo 2020 Dubai, it is intended to function as a stimulant for increasing commercial activity, encouraging cross-border economic collaboration, improving economic competitiveness, and driving long-term prosperity. The efforts of the Dubai and UAE governments, including mass vaccination drives, visa liberalization, and 100% foreign ownership of most mainland activities, have bolstered morale and increased confidence.
With start-ups and new commercial institutions playing a key role in adopting technology advancements, the business environment is to grow significantly, utilizing the emirate’s trade activities and real estate opportunities in the long run.
It is indeed a remarkable feat to have a growth of nearly 22%, indicating that Dubai’s commercial activities have overcome the Covid danger and are witnessing an exponential rise. Dubai is constantly on the frontline during these tough times and sets high standards for others to follow.
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