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THE ECONOMY - TRADE

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

Fujairah's non-oil exports surge 32.5%

Posted on 15/04/2006

The non-oil exports from Fujairah grew 32.55 per cent to Dh568.84 million last year, as compared to Dh429.13 million in 2004, according to the official Fujairah Statistics. However, re-export from the emirate declined 35.99 per cent to Dh1.16 billion in 2005 from Dh1.58 billion a year earlier. The total imports in the year 2005 were Dh1.23 billion, a decline of 14 per cent from Dhs1.40 billion in 2004. While the number of commercial licences issued in 2005 stood at 5,859 as compared to ...  >>MORE

DCCI discusses enhancement of trade ties with Belarus and Tunisia

Posted on 13/04/2006

Abdul Rahman Ghanem Al Mutaiwee, Director General of Dubai Chamber of Commerce & Industry (DCCI) yesterday received a trade delegation from Belarus headed by Vasili V. Ramanau, Vice-president of the Belarusian Chamber of Commerce and Industry, accompanied by Vadim Senyuta, Counsellor at the Embassy of the Republic of Belarus in the UAE. The meeting was also attended by Sultan Majid Lootah, Acting Director of Business Promotion Department in the DCCI. Al Mutaiwee welcomed the delegation and ...  >>MORE

UAE among world's top 14 capital exporters

Posted on 13/04/2006

A report on global financial stability issued by the International Monetary Fund showed that the UAE was among the world's 14 biggest capital exporters in 2005 with 2.5 per cent of the total capital exported last year. Together with Saudi Arabia, which contributed 7.5 per cent, and Kuwait, which contributed 2.8 per cent, the UAE occupied a significant position in this list side by side with the advanced industrialised countries including Japan, which contributed 14.2 per cent of the total ...  >>MORE

UAE ranks 24th in exports, says WTO

Posted on 12/04/2006

The UAE ranks 24th among global exporters, with merchandise shipments exceeding Dh412.87 billion (US$112.5 billion), or 1.1 per cent of the US$10.39 trillion in global exports, according to the latest report released by the World Trade Organisation (WTO). The WTO report says the UAE's merchandise exports last year reached Dh695.46 billion (US$189.49 billion), making it a regional trading powerhouse. However, this rank improves to 16, when the EU is considered as a single economic bloc. The ...  >>MORE

UAE imports from Germany up 20% to Dh15.92b

Posted on 09/04/2006

Exports from Germany to the UAE rose over 20 per cent to 4.31 billion euros in 2005, compared to 3.55 billion euros (Dh15.92 billion) in 2004. The non-oil imports increased by 15 per cent to 373 million euros from 323 million euros. According to German Consul General Walter Leuchs, the trade between the two countries is expected to increase this year. Though a break up of figures was not available, exports of cars, machines, chemicals, electrical and power generation products led to the ...  >>MORE

Fujairah imports fall to Dh1.23b

Posted on 09/04/2006

Fujairah's imports from various continents across the world declined 14 per cent to Dh1.23 billion last year, as compared to Dh1.40 billion in 2004, according to an official statistics released Fujairah Customs Department. However, the emirate's imports from the continent of Americas increased 32.1 per cent to Dh110.57 million in the year 2005 from Dh83.70 million in 20004. While imports from Asia was Dh392.09 million in 2005, goods bought from Australia stood at Dh6.54 million in the same ...  >>MORE

Lubna, French Minister meet French Business Group

Posted on 05/04/2006

UAE Minister of Economy, Sheikha Lubna Al Qasimi, and the visiting French Minister Delegate for Foreign Trade, Christine Lagarde, met yesterday with members of the French Business Group. Sheikha Lubna updated members of the group, representing around 200 French firms operating in the UAE, on the economic and business progress taking place in the country. She stressed that the already strong relations between the UAE and France could be further strengthened, given the UAE's drive toward ...  >>MORE

DCCI records 25% growth in exports/re-exports of members

Posted on 04/04/2006

DCCI issued 416 thousand Certificates of Origin (COs) in 2005 covering export/re-export shipments of its members worth Dh96 billion in 2005, representing a 25% growth over the value of Dh77 billion recorded in 2004. The figure included exports/re-exports originating from Dubai and from the free zones, with the latter including those entering UAE's domestic market, according to a statement from DCCI. Iran remained the largest export market with total value of Dh28.7 billion. In terms of ...  >>MORE

UAE tops regional list for German export market

Posted on 03/04/2006

The UAE is the biggest market for German exports in the region, a top German official said yesterday. Walter Leuchs, the German Consul General in Dubai, told Gulf News that German exports to the UAE hit 4.3 billion euros in 2005, but non-oil imports from the UAE did not exceed 200 million euros. "Crossing Saudi Arabia, Egypt and even India, the UAE is leading the list of importing countries in the region" said Leuchs. The German council general would not comment on negotiations underway ...  >>MORE

UAE, Egypt discuss ways to boost investment

Posted on 28/03/2006

Ayed Al Ahbabi, Board Member of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), last Sunday received Dr. Mahmoud Mohideen, Egyptian Minister of Investment. During the meeting, they discussed ways to increase joint investment and to activate contact between businessmen, companies and institutions from the two sides. They also discussed arrangements for the holding of a seminar on investment climate and opportunities in Egypt in Cairo in May, which coincides with a visit to Cairo by an ...  >>MORE

Japan, UAE trade jumps 31.7% in ‘05

Posted on 25/03/2006

Japan, UAE trade jumps 31.7% in ‘05 Trade between Japan and the UAE jumped 31.65 per cent in 2005 to US$30.18 billion compared to US$22.92 billion in 2004. While Japan's exports to the UAE increased 5.7 per cent to US$4.86 billion, imports surged by 38.2 per cent to US$25.31 billion. The steep jump in the value of imports was mainly attributed to the increase in the price of crude oils and other mineral fuels imported from the UAE. Surge in the value of exports were mainly due to increased ...  >>MORE

UAE, New Zealand discuss best ways to boost ties

Posted on 19/03/2006

Minister of Economy, Sheikha Lubna Al Qasimi, received in Abu Dhabi yesterday at her office the visiting Minister of Trade and Defence of New Zealand, Phil Goff. During the meeting, they discussed ways to boost bilateral ties in the interest of the two friendly peoples. They also discuss the possibility of holding a joint meeting of trade and economic committee, set up under the umbrella of the UAE, New Zealand bilateral economic and trade cooperation arrangement signed in 2004. Economic and ...  >>MORE

Sheikha Lubna in US trade visit

Posted on 18/03/2006

UAE Minister of Economy Sheikha Lubna Al Qasimi will make an official visit early next week to the United States to discuss existing cooperation between the two countries, WAM reported yesterday. She will meet in Washington DC with a number of US officials as part of the two countries' commitment to enhance their already close ties. Meanwhile, US trade representative Rob Portman told Reuters the recent political firestorm that forced government-owned Dubai Ports World to announce it would ...  >>MORE

UAE-German economic relations reviewed

Posted on 14/03/2006

Officials form The Higher Corporation for Specialized Economic Zones (HCSEZ) discussed yesterday with the German delegation of businessmen who are on a visit to the country. During the meeting, the two sides reviewed bilateral economic and investment relations and explored ways to boosting them and opening new avenues of co-operation. Charlie Borde, Executive Director of Marketing and Investment Generation - HCSEZ said Industrial City of Abu Dhabi 2 (ICAD2) would contribute more than 20 ...  >>MORE

China-UAE trade poised to grow by 40%

Posted on 11/03/2006

China's trade with the UAE which crossed US$10 billion last year is poised to grow 30-40 per cent in the short term on the back of the two booming economies and the likely sealing of a free trade agreement, top Chinese government officials said. They said China's trade with the GCC peaked at US$35 billion last year with Saudi Arabia emerging as the largest trading partner. "In 2005, trade between China and the UAE was US$10.7 billion, making it the second biggest trading partner of China in ...  >>MORE

Trade between US and UAE reaches US$9.95b

Posted on 06/03/2006

Trade between the United States and the UAE increased to US$9.95 billion (Dh36.5 billion) in 2005 compared to US$5.2 billion (Dh19.2 billion) in 2004, according to official reports. The numbers show that the UAE received Dh8.4 billion in American investments in a variety of sectors. The US Trade Department said in a recent report that investment laws and regulations are evolving in the UAE, and are expected to make the business climate more hospitable to foreign investment. The report ...  >>MORE

Dubai makes the UK's Top Ten Markets

Posted on 04/03/2006

For the first time trade statistics released by the UK's Department of Trade and Industry show that Dubai is now the UK's 10th largest export market globally, up from 17th place in 2004. UK exports to Dubai rose 134% in 2005 reaching a total value of 30.9 billion Dirhams. UK exports to the UAE as a whole increased by 106% in 2005 to 36.2 billion Dirhams. Trade with the Northern Emirates grew by 36.5% and was worth 3.7 billion Dirhams in 2005. Two-way trade between the UAE and UK ...  >>MORE

ADDCI releases economic indices for 2005-06

Posted on 27/02/2006

Salah Salem Bin Omair Al Shamsi, Chairman of the Abu Dhabi Chamber of Commerce and Industry, announced the ADCCI's annual indices for the 2005 - 2006 economic performance, including information, data and statistics on the gross domestic product (GDP) of both Abu Dhabi and the United Arab Emirates in addition to updated statistics on the general economic performance in the country. The comprehensive development and substantial boom being witnessed by the economy of Abu Dhabi in all fields and ...  >>MORE

29.1% increase in issuance of new trade licenses

Posted on 22/02/2006

The Emirate of Sharjah announced yesterday a 29.1% increase in the amount trade licenses issued. The figure rose from 4145 in 2004 to 5351 in 2005. Additionally, the Department of Economic Development also renewed 31142 licenses for this year, this is compared to 22725 licenses from the previous year, a significant increase of 37%, according to a press release. These figures come as Sharjah is in the midst of a drive to reinvigorate its position in the UAE as a viable Emirate to conduct ...  >>MORE

ADCCI-Greek cooperation

Posted on 19/02/2006

A memorandum of understanding (MoU) was signed yesterday between Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Greek Industrial Federation with the aim of boosting their business relations. The signing of the MoU culminated negotiations between ADCCI and a visiting Greek delegation headed by the Vice Chairman of the Arab Greek Chamber of Commerce and Development. Noting that trade exchange between Abu Dhabi and Greece did not reflect the potentials of the two parties, Al Shamsi ...  >>MORE

FCCI releases UAE Commercial Directory 2006

Posted on 15/02/2006

Federation of UAE Chambers of Commerce and Industry has issued the UAE Commercial Directory for the year 2006. In a foreword to the 2006 edition of the directory, Sheikha Lubna bint Khalid Al Qasimi, Minister of economy, said the UAE has become an important regional and global commercial hub and a regional home for leading international companies. Abdullah Rashid Al Khazraji, FCCI's acting Chairman, said in the directory's introduction that trade between UAE and rest of the world has surged ...  >>MORE

Sharjah exports, re-exports rise 57.5%

Posted on 09/02/2006

The export and re-export trade from Sharjah to the GCC countries registered a substantial growth of 57.5 per cent to Dhs3.128 billion in 2005 compared with Dhs1.985 billion in 2004. Sharjah's exports and re-exports to GCC countries represented 37 per cent of Sharjah's total exports to other countries, which were valued at Dhs8.403 billion and grew by 25.1 per cent compared with 2004. According to the data of Sharjah Chamber of Commerce and Industry (SCCI), Sharjah's exports to GCC ...  >>MORE

Japan reports a 15 per cent increase in trade with UAE

Posted on 05/02/2006

Japan reported a 15 per cent increase in its total trade with the UAE during the first three quarters of the 2005, for a total value of Dh 63 billion. Imports, growing by 18 per cent, outpaced exports, which grew at only 5 per cent. With imports and exports reaching Dh51 billion and Dh11 billion, respectively, Japan's trade deficit worsened by 22 per cent, from Dh32 billion during the same period in 2004 to Dh40 billion in the current year. The growth in imports was attributable to the ...  >>MORE

Rwanda to open Commercial Representative Office in Dubai

Posted on 31/01/2006

Abdul Rahman Ghanem Al Mutaiwee, Director General of Dubai Chamber of Commerce & Industry (DCCI) yesterday received Williams Nkunziza, Managing Director of Rwanda Investment and Export Promotion Agency, and Engineer Abdul Salam Mohammed Al Jassmi, Senior Manager of the Jebel Ali Free Zone Authority (Jafza). They discussed the procedures required to set up a commercial representative office of Rwanda in Dubai to help enhance the trade ties between the UAE, Dubai in particular, and Rwanda, ...  >>MORE

DCCI now 79,470 strong

Posted on 18/01/2006

The number of Dubai Chamber of Commerce and Industry (DCCI) members in 2005 reached 79,470, said Abdulrahman Al Mutaiwee, director-general. The number of transactions, new and renewed, processed in 2005 reached 60,338, an increase of 23.5 per cent over 2004. The Jebel Ali branch processed 42 per cent of the transactions that the Commercial Services Department handled, a volume which required a new building in the Jebel Ali Free Zone, he added. Al Mutaiwee emphasised the significant increase ...  >>MORE

Abu Dhabi Chamber's New Board Elected

Posted on 16/01/2006

The newly elected members of the Board of Directors of Abu Dhabi Chamber of Commerce and Industry (ADCCI) yesterday held their first meeting and elected Engineer Salah Salem bin Omair Al Shamsi as board chairman, Khalil Foulazi as first deputy chairman, Dr. Rawdah Al Muttawa as second deputy chairman, Engineer Zafir Al Ahbabi as treasurer, and Saeed Ali Al Dhaheri as deputy treasurer. The new chairman, Engineer Salah Al Shamsi expressed his gratitude to President H.H. Sheikh Khalifa bin ...  >>MORE

DWTC begins constructing 15,000sqm exhibition hall

Posted on 04/01/2006

The Dubai World Trade Centre (DWTC) has begun the initial phases of construction of a new exhibition hall for the Dubai International Convention and Exhibition Centre (DICEC). Construction of the hall will begin in February 2006 and will take eight months to complete. The project will add 15,000 square metres of exhibition space to the DICEC, thus increasing the available space by 30 per cent. The expansion is being undertaken on the directives of Minister for Finance and Industry, Deputy ...  >>MORE

Australia reports net of Dh1.7 billion from 3-quarter trade with UAE

Posted on 04/01/2006

Australia's exports to the UAE during the first three quarters of 2005 reached almost Dh2.5 billion, while imports from UAE amounted to only slightly more than Dh 771 million, leading to a favourable trade surplus of Dh1.7 billion for Australia. The dominance of oil and oil products in the trade between the two countries is indicated by the fact that Australia's imports of the product group accounts for 69 per cent of total imports from UAE, according to new study in the DCCI's Economic ...  >>MORE

Dubai Municipality nod for trade tower

Posted on 02/01/2006

Dubai Municipality recently issued a licence for the construction of a 70-storey tower in the Trade Centre 2 Area at a cost of Dh200 million. Engineer Khalid Mohammed Saleh, director of the Building Department of the Municipality, said the tower would consist of residential apartments and shops. The building will have two basements, ground floor, two mezzanine floors, three service floors, and 70 upper stories, in addition to a health club. The total built-up area will be more than 511,000 ...  >>MORE

DCCI to organize UAE Trade Exhibition in Ghana and Senegal

Posted on 31/12/2005

Dubai Chamber of Commerce & Industry (DCCI) announced the organization of the UAE Trade Exhibition in Ghana and Senegal on April 24-29, 2006. The exhibition aims to develop and enhance the business-to-business trade exchange, economic cooperation and bilateral trade investments between the UAE and the Republics of Ghana and Senegal, according to a press release. Abdul Rahman Ghanem Al Mutaiwee, Director General of DCCI, said that the organization of this exhibition reflects the strong ...  >>MORE

Scope for greater Dubai- Mozambique economic ties discussed

Posted on 28/12/2005

Dubai Chamber of Commerce & Industry (DCCI) yesterday received a trade delegation from Mozambique headed by Jose Meque, Advisor of the Mozambique Ministry of Industry and Trade. The meeting discussed ways of boosting economic relations between the UAE in general, Dubai in particular, with Mozambique and the ways to explore and benefit from Dubai best practices and experiences in developing its economy and trade, according to a press release. Dubai's total foreign non-oil trade between Dubai ...  >>MORE

Dubai's non-oil land trade sees 8pc rise

Posted on 20/12/2005

Dubai's non-oil foreign trade through the land transportation customs centre has recorded a growth of 8 per cent in the first nine months of this year compared with the same period of the last year. Whereas the total weight of the exported and imported goods has increased dramatically with a growth rate of 16 per cent. "The total value of the exported and imported goods through the centre between the 1st of January and the end of September of this year amounted to Dh2.666 billion compared ...  >>MORE

Italy exports 1.1b euros worth of goods to UAE

Posted on 19/12/2005

Commercial and economic ties between the UAE and Italy that have flourished in the past few years and the boom will continue with more than 80 companies already having set up bases in the UAE in fields of, technology, oil, construction, petrol and power. The Italian Commercial Centre (ICC) in the UAE recently issued a statistical report announcing that a large number of the companies from Italy have shown more interest in operating in the UAE since 1999. Italy has become the fifth major ...  >>MORE

UAE remains flexible on agenda on WTO's negotiating table

Posted on 17/12/2005

Hong Kong - The UAE remains flexible to examine all proposals on the WTO table of negotiating with the aim of adopting solutions that are acceptable and mutually satisfactory for all, according to a senior UAE minister. 'Concerning the sectoral component, the UAE has submitted a proposal on raw materials including that of primary aluminium. We consider this initiative as a salient example of co-operation and convergence between the interests of both developed and developing countries in the ...  >>MORE

Lubna urges unified Arab stance on WTO issues

Posted on 14/12/2005

Hong Kong - Sheikha Lubna Al Qasimi, Minister of Economy and Planning, yesterday called on Arab countries to coordinate their stances on the different issues on the agenda of 6th ministerial meeting of the World Trade Organisation (WTO), opened yesterday. During a consultation meeting between heads of Arab delegations that Arab countries, Sheikha Lubna rallied support to the Arab proposals, including one by made by the UAE on slashing customs tariffs on raw materials. The meeting, ...  >>MORE

UK exports to UAE rise 104pc in eight months

Posted on 14/12/2005

UK exports to the Emirates have recorded 104 per cent increase during the first eight months of this year to just over Dh20 billion as compared to the same period of 2004, according to British Embassy statistics. For Dubai alone the increase stood at 143 per cent. The UAE was the UK's 13th biggest global market in 2004, while this year there is much hope that with these figures it will be a higher ranking. Taking this into consideration and the fact that more British companies are ...  >>MORE

Dubai exports and re-exports jump 27% in nine months

Posted on 12/12/2005

The value of exports and re-exports by Dubai traders covered by Certificates of Origin (COs) for the first three quarters of 2005 reached Dh71.3 billion, a 27.2 per cent increase over the Dh56 billion registered during the same period in 2004, according to statistics issued by the Dubai Chamber of Commerce and Industry. Gold and diamonds contributed 22 per cent of the trade in 2004. Imports of gold and diamonds grew 65 per cent, exports grew 5.1 per cent and re-exports grew 135 per cent last ...  >>MORE

ADCCI gets first-ever elected board

Posted on 07/12/2005

Over 49,800 members of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) elected their 15 members to the board of directors, all representing the major business empires of the emirate. According to the results announced late in the night, Khalfan Saeed Jumma Al Kaabi who obtained 4474 votes became the top scorer, followed by Talal Ali Mohammed Abbas Khouri who got 3822, while Engineer Saleh Salem Homier Al Shamsi, bagged 3806 votes, followed by Khalifa Mohammed Abdul Aziz Rabeeh Al ...  >>MORE

Abu Dhabi chamber members elect board

Posted on 06/12/2005

The first ever elections to the board of the Abu Dhabi Chamber of Commerce and Industry ended successfully yesterday after 15 candidates, including two expatriates were voted as members. The victors lauded the democratic vision of the Abu Dhabi rulers and vowed to work for the emirate and the nation. "We are very happy with the success of this historic election. There was a slight delay in announcing the results but this was our first experience," said Mohammad Omar Abdullah, chamber ...  >>MORE

UAE-UK business ties continue to expand in 2005

Posted on 05/12/2005

The UAE's exports to the UK have climbed further this year, as the two countries look to expand their burgeoning economic links. There has been an 18 per cent hike in goods being bought by UK-based businesses, according to the latest figures made available by the British Embassy's Commercial Section for the first eight months of this year. Exports went up to Dh5.7 billion (£902.4 million) from Dh4.8 billion (£767.5 million) for the corresponding period last year. Previously released ...  >>MORE

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Quick List

Ghanaian President Inaugurates UAE Trade Fair in Ghana


Fujairah's non-oil exports surge 32.5%


DCCI discusses enhancement of trade ties with Belarus and Tunisia


UAE among world's top 14 capital exporters


UAE ranks 24th in exports, says WTO


UAE imports from Germany up 20% to Dh15.92b


Fujairah imports fall to Dh1.23b


Lubna, French Minister meet French Business Group


DCCI records 25% growth in exports/re-exports of members


UAE tops regional list for German export market


UAE, Egypt discuss ways to boost investment


Japan, UAE trade jumps 31.7% in ‘05


UAE, New Zealand discuss best ways to boost ties


Sheikha Lubna in US trade visit


UAE-German economic relations reviewed


China-UAE trade poised to grow by 40%


Trade between US and UAE reaches US$9.95b


Dubai makes the UK's Top Ten Markets


ADDCI releases economic indices for 2005-06


29.1% increase in issuance of new trade licenses


ADCCI-Greek cooperation


FCCI releases UAE Commercial Directory 2006


Sharjah exports, re-exports rise 57.5%


Japan reports a 15 per cent increase in trade with UAE


Rwanda to open Commercial Representative Office in Dubai


DCCI now 79,470 strong


Abu Dhabi Chamber's New Board Elected


DWTC begins constructing 15,000sqm exhibition hall


Australia reports net of Dh1.7 billion from 3-quarter trade with UAE


Dubai Municipality nod for trade tower


DCCI to organize UAE Trade Exhibition in Ghana and Senegal


Scope for greater Dubai- Mozambique economic ties discussed


Dubai's non-oil land trade sees 8pc rise


Italy exports 1.1b euros worth of goods to UAE


UAE remains flexible on agenda on WTO's negotiating table


Lubna urges unified Arab stance on WTO issues


UK exports to UAE rise 104pc in eight months


Dubai exports and re-exports jump 27% in nine months


ADCCI gets first-ever elected board


Abu Dhabi chamber members elect board


UAE-UK business ties continue to expand in 2005