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THE ECONOMY - TRADE

Exports and re-exports from Dubai top Dh91b

Posted on 05/09/2006

In the first half of 2006, Dubai's exports and re-exports exceeded Dh91 billion, according to the Dubai Department of Economic Development. Dubai exported goods worth nearly Dh51 billion and re-exported goods worth nearly Dh40 billion. "Dubai's GDP [gross domestic product] has more than tripled in the past 10 years, with the non-oil sector showing double-digit growth and contributing more to the economy every year," said Khalid Al Kassim, deputy director-general of planning and development ...  >>MORE

Sharjah textile exports rise 12.46 per cent in H1

Posted on 03/09/2006

Sharjah's total exports of textiles and related equipment grew by 12.46 per cent to Dh168.45 million during the first half of this year, up from Dh149.8 million during the corresponding period last year. According to the statistics issued by Sharjah Chamber of Commerce and Industry (SCCI), the emirate's exports of textile materials and equipment rose by 68.7 per cent from Dh35.5 million to Dh59.8 million over the period of comparison while the emirate's re-exports of this type of goods ...  >>MORE

Dubai's total trade crosses Dhs254 billion in first half

Posted on 29/08/2006

Dubai's total trade crossed Dhs254 billion in the first six months of the year. Of that imports were valued at Dhs163.579 billion while exports reached Dhs50.589 billion and re-exports touched Dhs39.87 billion. Land worth Dhs22.9 billion was traded in Dubai in the first half while the number of completed buildings reached 1,128 including 207 investment buildings, 710 residential buildings and 211 entertaining buildings. The total cost of completion of these buildings touched Dhs5.579 ...  >>MORE

Sharjah precious stones export up

Posted on 26/08/2006

The first half of this year witnessed great demand for pearls, precious stones, semi-precious stones and valuable metals exported by Sharjah. According to the statistics issued by Sharjah Chamber of Commerce and Industry, the total exports of this type of goods rose by 20.79 per cent from Dhs19.385 million during the first half of last year to Dhs23.42 million during the corresponding period this year. Re-export of pearls, precious stones, semi-precious stones and valuable metals achieved ...  >>MORE

Dubai World launches trade CD for 2005

Posted on 23/08/2006

Dubai World, one of the world's leading holding companies, has launched a new CD containing comprehensive statistical data on Dubai's trade. The CD, compiled by the Group's Statistics Department using state-of-the art designs and technology, is titled 'Dubai External Trade Statistics 2005' and is aimed at meeting the ever-increasing demand for details on the Emirate's highly successful commercial relations with the rest of the world. Adel Al Ashram, Senior Manager of the Statistics ...  >>MORE

UAE-US H1 trade hits US$6.66b

Posted on 19/08/2006

Trade exchange between the UAE and the United States grew by 52 per cent to US$6.66 billion (Dhs24.5 billion) during the first half of this year compared with US$4.39 billion (Dhs16.11 billion) during the corresponding period last year. According to the US foreign trade statistics, the UAE's imports from the US grew by 58 per cent to US$5.97 billion (Dhs21.91 billion) during the first six months of this year compared with US$3.78 billion (Dhs13.87 billion) during the corresponding period ...  >>MORE

UAE-Japan trade hits Dh57b

Posted on 16/08/2006

Trade exchange between the UAE and Japan grew by 38.5 per cent to US$17.96 billion (Dh56.91 billion) during the first half of this year compared with US$12.96 billion (Dh47.56 billion) during the corresponding period last year. According to Japan External Trade Organisation (JETRO), the massive growth is attributed to many factors including the constant rise in oil prices and the growth of commercial activities between the two countries. The UAE's imports from Japan grew by 21.5 per cent to ...  >>MORE

UAE/GCC exports to EU market post significant growth

Posted on 09/08/2006

Non-oil exports and re-exports from Gulf Cooperation Council's (GCC's) member states have shown remarkable growth in recent years with the European Union 15 countries (EU15) being a major destination of these exports. According to data published by EUROSTAT, Statistical Office of the European Communities, the UAE exports to EU15 stood at US$4.3 billion in 2003, representing only 0.4% of the latter total imports from the world. Although figures show the insignificance of the UAE exports ...  >>MORE

Abu Dhabi's non-oil exports fetch Dh 2.3 billion in H1, 2006

Posted on 08/08/2006

Non-oil exports have fetched around Dh 2.3 billion for the emirate of Abu Dhabi through the first half of this year, an increase of 50 per cent for the same period of 2005, according to the statistics of the Abu Dhabi Customs Department. The emirate's imports during the same period touched over Dh 21.2 billion, a 35 per cent rise from last year. The value of re-exports, however, has shrunk during the period from 2.6 billion in 2005 to 1.6 billion in 2006. Russia has topped the list of ...  >>MORE

Dubai plays a key role in UAE's trade

Posted on 07/08/2006

In the first quarter of the year, 84% of the total exports of UK to UAE valued at Dh1.3 billion were destined for Dubai. 'Destined to Abu Dhabi were 4% and to Sharjah and the other emirates, 12%. Of the total imports from UAE during the same period valued at Dh283 million, 65% originated from Dubai, while 17% were from Abu Dhabi and 18% were from Sharjah and the other emirates, according to a report by the Dubai Chamber of Commerce and Industry (DCCI). The report, published in the economic ...  >>MORE

UK first quarter exports to UAE rise by 100 per cent

Posted on 07/08/2006

Total trade between Britain and the UAE rose 66 per cent in the first three months of this year, but the trade balance was weighted heavily in favour of the United Kingdom. Statistics released yesterday by the Dubai Chamber of Commerce and Industry show that the United Kingdom's exports to the UAE reached Dh9.13 billion in the first quarter of the year, up 100 per cent over the Dh4.57bn worth of British goods that entered the UAE during the equivalent period in 2005. But the UAE's ...  >>MORE

DCCI Launches Dubai Commercial Directory 2006-2007

Posted on 26/07/2006

Dubai Chamber of Commerce & Industry (DCCI) recently launched the 18th issue of Dubai Commercial Directory 2006-2007, which it said had become one of the valuable and indispensable references for businessmen and traders on the local, regional and international levels, according to a press release issued Tuesday. The new directory also includes useful information about Dubai's infrastructure, its social services, necessary procedures for practicing economic activities, licensing procedures, ...  >>MORE

UAE, Syria agree to remove trade barriers

Posted on 15/07/2006

UAE and Syrian officials have voiced their firm determination to remove obstacles hindering easy flow of bilateral trade exchange to maintain close trade cooperation. A statement issued yesterday said that the meeting of the joint technical committee, which concluded in Dubai, had produced good results. 'All barriers blocking movement of commodities were discussed and an understanding was reached on mutual confidence -building measures,' the statement added. The two sides agreed that all ...  >>MORE

ADCCI memberships increase

Posted on 08/07/2006

The total membership of the Abu Dhabi Chamber of Commerce and Industry increased by 4,525 to 54,214 at the end of the first half of this year, showing increased business, and industrial activities in all the fields in the Emirate of Abu Dhabi. Releasing the figures, Mohammed Ahmed Al Nuaimi, ADCCI Assistant Director General for Information Technology and Membership Affairs, said that of the total 37,310 were registered in Abu Dhabi and 16,904 were in Al Ain. Trading licences topped the ...  >>MORE

US exports to UAE rose to Dh11 billion during the Q1 2006: DCCI Study

Posted on 03/07/2006

US exports to the UAE rose to Dh11.8 billion during the first quarter of 2006 as compared to Dh6.2 billion in the previous year and Dh2.7 billion during 2004. According to a study by the Dubai Chamber of Commerce and Industry, US imports from the UAE achieved a relative annual growth of 24 per cent. Imports growth during the first quarter of the two previous years recorded a 26 per cent growth, while the trade balance, which favours the US, achieved a surplus of Dh 10.5 billion during the ...  >>MORE

Dubai's trade jumps to Dh480 billion

Posted on 26/06/2006

Dubai's total trade jumped 36 per cent to reach Dh480 billion last year or nearly four times the emirate's GDP, from the previous year's Dh351 billion, according to the Dubai Ports, Customs and Free Zones (PCFC). This is also close to the UAE's GDP, which reached Dh485 billion last year. About 80 per cent of the UAE's total trade is handled by Dubai's three ports that together represent the region's largest capacity. "The compounded average growth rate between 2000 and 2005 is an ...  >>MORE

India tops charts as Dubai trade soars by 30 per cent

Posted on 17/06/2006

Dubai's trade increased by 30 per cent in 2005, compared to the previous year, with India taking over from China the top spot as the largest importer, according to data from the Ports, Customs and Free Zones Corporation (PCFC). Figures released by the PCFC's statistics department log growth in nearly all segments – from live animals to electronics and precious stones and metals. Total trade increased from Dh215.73 billion in 2004 to Dh280.46bn last year. India's trade with Dubai accounted ...  >>MORE

UAE, South Africa discuss cooperation

Posted on 14/06/2006

Salah Salem bin Omeir Al Shamsi, chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) has called on the African nations to work closely with the UAE to make better achievements in the business economic fields to improve their standard of life. Al Shamsi was addressing the African business community at a dinner reception hosted by the South African Ambassador, Dikgang Moopeloa, in Dubai on Monday prior to the Arab African Investment, Banking and Business Summit, which opens in ...  >>MORE

UAE trade with EU grows 29%

Posted on 10/06/2006

Trade between the UAE and the European Union (EU) grew by 29 per cent for the first quarter of this year to 8.04 billion euros (Dh37.6 billion) compared with nearly 6.25 billion euros (Dh29.23 billion) for the corresponding period last year. According to the latest EU statistics, UAE's exports to the EU grew by 10.9 per cent. The total value of these exports rose from 1.59 billion euros (Dh7.44 billion) for the first quarter of 2005 to 1.76 billion euros (Dh8.23 billion) for the first three ...  >>MORE

UAE, FDI to US rises 272% to Dh7.1 billion

Posted on 04/06/2006

The volume of UAE's foreign direct investment (FDI) to the United States touched US$1.93 billion (Dh7.1 billion) last year compared with US$519 million (Dh1.9 billion) in 2004, registering a growth rate of nearly 272 per cent. UAE's investments continued to grow despite the controversy about the DP World's deal to by the US assets belonging to the UK's P&O Group, a report published by the Wall Street Journal said. UAE companies last year invested around US$64 billion abroad to go ...  >>MORE

'No political price' for free trade deals

Posted on 03/06/2006

The UAE will never pay a political price for a free trade agreement or any other economic deal, His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said. In an interview with the London-based Asharq Al Awsat newspaper, Sheikh Mohammad denied the UAE would pay a political price for trade agreements signed with the United States or any other country. Sheikh Mohammad acknowledged the imbalance in the UAE's demographic structure, ...  >>MORE

UAE among first countries to adopt trade conventions: Kharbash

Posted on 23/05/2006

The United Arab Emirates has been among the first countries of the world to adopt principles derived from international multilateral trade conventions, including openness, transparency, anti-dumping and removing trade barriers, Dr Mohammed Khalfan bin Kharbash, Minister of State for Finance and industry said yesterday. Kharbash, who was addressing a seminar on service trade within WTO, pointed out that the UAE leadership realised the importance of interaction in the global trade and gave ...  >>MORE

Abu Dhabi's outbound/inbound traffic of goods rakes in Dh13 billion

Posted on 23/05/2006

Outbound and inbound traffic of goods worth over Dh 13.1 billion have crossed the various checkpoints of the Abu Dhabi emirate during the first quarter this year. According to the statistics of Abu Dhabi Customs Department for the first quarter of 2006, imports valued Dh 10.2 billion against Dh 8.2 billion for the corresponding period last year, while non-oil exports fetched Dh 2.7 billion. Saudi Arabia topped the list of exporting countries to Abu Dhabi during the first quarter of the year ...  >>MORE

UAE-Japan trade grows 44%

Posted on 22/05/2006

The volume of trade between the UAE and Japan grew 44 per cent to US$9.04 billion (Dh33.18 billion) in the first quarter of this year compared with US$6.28 billion (Dh23.05 billion) for the corresponding period last year. According to the Japan External Trade Organisation (Jetro), UAE's exports to Japan for the period grew 47.6 per cent to US$7.56 billion (Dh27.75 billion) compared with US$5.12 billion (Dh18.8 billion) last year. The UAE's imports from Japan grew by 27.5 per cent to US$1.48 ...  >>MORE

President issues federal law on commercial trading companies

Posted on 21/05/2006

President H.H. Sheikh Khalifa bin Zayed Al Nahyan has issued a federal law amending Federal Law No. 8 of 1984 on trading companies. According to Article 1 of the new law, which supplements Article 168 of the amended company law stated above, no company shall mortgage its shares or buy them back unless it is doing so with the intention of cutting down its capital or consuming its shares. Doing so shall render those shares without voting power in the transactions of the company's general ...  >>MORE

UAE-US trade touches Dh12.95 billion in Q1, up 82 per cent

Posted on 17/05/2006

Trade between the UAE and the US grew 82 per cent to US$3.53 billion (Dh12.95 billion) for the first quarter of this year, up from US$1.94 billion (Dh7.12 billion) for the corresponding period last year. According to the US Department of Commerce, UAE's exports to the US grew by 25 per cent to US$331 million (Dh1.22 billion) over the first three months of 2006, up from US$265 million (Dh973 million) for the first quarter last year. UAE's imports from the US grew by 92 per cent to US$3.2 billion ...  >>MORE

UAE-Qatari Economic and Trade Ministerial Committee holds meeting

Posted on 16/05/2006

The UAE-Qatari Economic and Trade Ministerial Committee held its third meeting yesterday in Abu Dhabi. The meeting was chaired by Minister of Economy Sheikha Lubna Al Qasimi, Qatari acting Minister of Economy and Trade Yousef Hussain Kamal. The committee which is affiliated with the Bilateral Higher Committee discussed any bilateral issues, cooperation in several areas including chambers of commerce and industry, energy, financial markets, industry, agriculture and wildlife protection and ...  >>MORE

Korea keen on increasing trade ties with UAE

Posted on 15/05/2006

South Korean President Roh Moo-Hyun has urged his country's business community to take advantage of the UAE's unique geographic and economic position to promote their business in the region. "Due to the highly significant and strategic location of the UAE in general and Dubai in particular, it was a must that Korea always strives to expand joint trade and economic cooperation and promote it to reach higher levels for the interest of two countries," he told the business community at a conference ...  >>MORE

UAE, Korea agree to boost joint trade, economic relations

Posted on 14/05/2006

The UAE and Korea signed yesterday an agreement for boosting joint economic, trade and technological cooperation. Sheikha Lubna Al Qasimi, Minister of Economy and Korean Minister of Commerce, Industry and Energy, Chung Sy-Kyun inked the agreement. Sheikha Lubna said after the signing ceremony that the agreement would help catapult trade, economic and investment cooperation to new heights. 'The two countries harbour huge trade and economic potentials and rich business opportunities which ...  >>MORE

Dubai Chamber signs trade accord with Wales

Posted on 14/05/2006

Abdul Rahman Saif Al Ghurair, First Vice-Chairman of the Dubai Chamber of Commerce and Industry (DCCI), and Rhodri Morgan, First Minister of Wales, yesterday signed a memorandum of understanding (MoU) to enhance economic and trade cooperation. Morgan headed a high-ranking delegation that included a number of Welsh businessmen and university deans and professors and other educational and technical institutions. "DCCI is ready to extend all sorts of assistance, support and services to ...  >>MORE

GCC-Italy trade jumps to Dh47b last year

Posted on 14/05/2006

Ties between the GCC and Italy are steadily warming up with trade between the two increasing by about 24 per cent in 2005 as compared to the previous year. During the year, the GCC's trade with Italy hit 10.3 billion euros (Dh47 billion) compared to 8.29 billion euros (Dh37.8 billion) in 2004. In 2005, GCC exports to Italy reached 4.7 billion euros (Dh21.4 billion), up from 3.33 billion euros (Dh15.1 billion) the previous year, a 42 per cent increase. Imports in 2005 increased 14 per cent ...  >>MORE

Ajman Q1 exports up 100% to Dhs862.41m

Posted on 09/05/2006

Ajman's total exports rose 100 per cent to Dhs862.41 million in the first quarter of 2006, according to Ajman Chamber of Commerce and Industries (AJCCI). While exports in the first quarter stood at Dhs389.70 million, the re-export touched Dhs472.71 million, an increase of 54.8 per cent from the corresponding quarter in 2005. "The exports from the emirate is continuously increasing on monthly and yearly basis," said an AJCCI official. While the total exports at the end of March was ...  >>MORE

USA's surplus from trade with UAE accelerates

Posted on 08/05/2006

Trade between USA and UAE continued to be heavily favourable to USA, with surplus in 2005 reaching US$7 billion, for a 138 % increase from only about US$ 3 billion a year earlier, according to a study released by Dubai Chamber of Commerce and Industry on Sunday. More than half (52%) of USA's imports from the UAE were base metals and metal products, accounting for 18%, mineral products and textiles and textile articles, both having a share of 17% each, chemicals and chemical products, 16%, ...  >>MORE

UAE emerges Hong Kong's top export market

Posted on 08/05/2006

The UAE has emerged as Hong Kong's top export market in the Middle East with total exports rising to Dh5.14 billion for the first nine months of 2005. Hong Kong's total exports to the UAE edged up year-on-year by seven per cent in 2005. The import of gifts and premium products from Hong Kong is expected to register a significant rise as more trade visitors and buyers from the Gulf region zeroed in on the Hong Kong Gifts and Premium Fair 2006. The UAE imports clothing, telecommunication ...  >>MORE

UAE non-oil trade rises 36.6% to Dh287 billion

Posted on 08/05/2006

The non-oil foreign trade of the UAE between 1995 and 2005 has made quantum leaps at all levels, a report by the Emirates Industrial Bank said. According to the data related to foreign trade over the past two years, imports and exports rose to Dh210.1 billion in 2004, up by 35.5 per cent over 2003 and to Dh286.9 billion last year, up by 36.6 per cent over 2004. The preliminary data collected by the Emirates Industrial Bank showed that the value of imports rose by 38.2 per cent to Dh273.1 ...  >>MORE

UAE, Morocco agree to boost joint cooperation

Posted on 06/05/2006

Rabat - The UAE and Morocco agreed yesterday to remove obstacles hindering easy flow of commodities and products between their markets. A joint taskforce will be set up to facilitate two-way trade exchange in a more effective mechanism. These measures were signed by Sheikha Lubna Al Qasimi, UAE Minister of Economy and Moroccan Minister for External Trade Al Mustafa Al Mashhour at the end of the two-day first meeting of the joint trade committee. The two countries also expressed their desire ...  >>MORE

Italy-GCC trade grows to Dh47b

Posted on 06/05/2006

Trade between Italy and the GCC increased to 10.3 billion euros (Dh47 billion) in 2005 compared with 8.29 billion euros in the previous year. According to Italy Trade Commission statistics, total exports from the Gulf Co-operation Council (GCC) to Italy grew 42 per cent to 4.7 billion euros in 2005 compared with 3.33 billion euros in the previous year; while total imports in 2004 stood at 4.96 billion euros which rose to 5.66 billion euros in 2005, registering an increase of 14 per cent on a ...  >>MORE

UAE and Algeria sign agreements

Posted on 04/05/2006

Algiers - United Arab Emirates and Algeria signed several agreements at the conclusion of the UAE-Algerian Business Forum which has been held on the sidelines of the 4th session of the two countries' joint committee meeting. The joint committee, which was chaired by UAE Minister of Economy Sheikh Lubna bint Khalid Al Qasimi, and Algerian Minister of Finance Murad Madlasi, signed agreements concerning Emirates Securities and Commodities Authority (ESTA), advertisement, youth and sports, chambers ...  >>MORE

UAE, Algeria sign host of cooperation agreements

Posted on 04/05/2006

Algiers - The UAE and Algeria yesterday inked a series of agreements at the end of the 4th meeting of the joint ministerial committee to boost bilateral relations in financial, economic, trade, industrial, sports, cultural and information sectors. Sheikha Lubna Al Qasimi, UAE Minister of Economy signed for the UAE while Murad Madlasi, Algerian Finance Minister signed for his country. In a statement following the signing ceremony, Sheikha Lubna said the UAE and Algeria had harboured huge ...  >>MORE

Trade with France up 9% to US$4.1b

Posted on 29/04/2006

Trade between the UAE and France rose by 9 per cent to US$4.17 billion in 2005, with UAE exports to France growing by 40 per cent. French exporters are also active in all sectors of the UAE's economy, particularly infrastructure projects and consumer goods with sales increasing by 16 per cent. "This new route will provide a tremendous opportunity to broaden cultural and commercial ties, not only between the France and the UAE, but also between Europe and the Middle East. We anticipate a ...  >>MORE

Ghanaian President Inaugurates UAE Trade Fair in Ghana

Posted on 26/04/2006

Ateeq Juma Naseeb, Director of Business Development Department at the Dubai Chamber of Commerce & Industry (DCCI) has said that the DCCI has issued 190 certificates of origin to Ghana in 2005 with a total value of Dh32 million, in addition to 47 certificates of origin which the Chamber issued from the beginning of 2006 to April 19, with a total value of Dh12 million. The figures which are expected to double in the near future, were released during the official opening of the UAE Trade Fair ...  >>MORE

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Quick List

Exports and re-exports from Dubai top Dh91b


Sharjah textile exports rise 12.46 per cent in H1


Dubai's total trade crosses Dhs254 billion in first half


Sharjah precious stones export up


Dubai World launches trade CD for 2005


UAE-US H1 trade hits US$6.66b


UAE-Japan trade hits Dh57b


UAE/GCC exports to EU market post significant growth


Abu Dhabi's non-oil exports fetch Dh 2.3 billion in H1, 2006


Dubai plays a key role in UAE's trade


UK first quarter exports to UAE rise by 100 per cent


DCCI Launches Dubai Commercial Directory 2006-2007


UAE, Syria agree to remove trade barriers


ADCCI memberships increase


US exports to UAE rose to Dh11 billion during the Q1 2006: DCCI Study


Dubai's trade jumps to Dh480 billion


India tops charts as Dubai trade soars by 30 per cent


UAE, South Africa discuss cooperation


UAE trade with EU grows 29%


UAE, FDI to US rises 272% to Dh7.1 billion


'No political price' for free trade deals


UAE among first countries to adopt trade conventions: Kharbash


Abu Dhabi's outbound/inbound traffic of goods rakes in Dh13 billion


UAE-Japan trade grows 44%


President issues federal law on commercial trading companies


UAE-US trade touches Dh12.95 billion in Q1, up 82 per cent


UAE-Qatari Economic and Trade Ministerial Committee holds meeting


Korea keen on increasing trade ties with UAE


UAE, Korea agree to boost joint trade, economic relations


Dubai Chamber signs trade accord with Wales


GCC-Italy trade jumps to Dh47b last year


Ajman Q1 exports up 100% to Dhs862.41m


USA's surplus from trade with UAE accelerates


UAE emerges Hong Kong's top export market


UAE non-oil trade rises 36.6% to Dh287 billion


UAE, Morocco agree to boost joint cooperation


Italy-GCC trade grows to Dh47b


UAE and Algeria sign agreements


UAE, Algeria sign host of cooperation agreements


Trade with France up 9% to US$4.1b


Ghanaian President Inaugurates UAE Trade Fair in Ghana