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THE ECONOMY - TRADE

Sri Lankan tea exports to UAE record good growth

Posted on 30/03/2002

The Ceylon Tea Bureau has had an office in Dubai for more than 20 years to ensure that the trade of Sri Lankan tea continues to grow in the region. In recent years, the bureau has experienced a boost in the amount of tea making its way from the shores of Sri Lanka to the UAE. According to tea export figures from the bureau, the UAE was ranked second on its list for 2000. Leading the list was Russia with a total of more than 45 million kilograms, following was the UAE with more than 39 ...  >>MORE

Japan non-oil trade with UAE set to rise

Posted on 28/03/2002

Japan is stepping up its non-oil trade with the UAE to increase total bilateral volumes. As a first step, a Japan Today exhibition is being organised in Abu Dhabi next month, top Japanese officials confirmed. Although Japan's trade with the UAE has been growing, there are areas in the non-oil sector where Japan can increase its exports. Oil and gas constitutes some 85 per cent of trade between Japan and UAE. Japan's trade with the UAE grew 0.26 per cent to $8.3 billion during the first half ...  >>MORE

Good potential to increase UAE-China commercial co-operation

Posted on 27/03/2002

The UAE and China have great potential to increase the two-way investments and both the countries should look forward to seeing their companies put the bilateral economic and commercial relationship in much wider perspectives. These sentiments were expressed by Saeed Saif bin Jabr Al Suweidi, President of the UAE Federation of Chambers of Commerce and the President of the ADCCI, and Wu Yi, Chinese State Councillor, when the Chinese dignitary and the accompanying business delegation visited the ...  >>MORE

Lanka in bid to boost ties with the UAE

Posted on 25/03/2002

Sri Lanka is working towards establishing an avoidance of double taxation treaty and an investment promotion protection treaty with the UAE. At a briefing on the sidelines of the opening of Sri Lanka Trade Centre at Premadasa General Trading premises yesterday, Ravi Karunanayake, the country's minister of commerce and consumer affairs, said Colombo had signed avoidance of double taxation treaties with 26 countries including Saudi Arabia. On investments, he said areas like petroleum, cement, ...  >>MORE

Turkey aims to boost trade ties with Dubai

Posted on 24/03/2002

Opportunities in Dubai were yesterday promoted to visiting business people from Turkey and South Australia at Dubai Chamber and Commerce and Industry (DCCI). DCCI yesterday received two delegations, from Turkey and South Australia, and its message was clear - Dubai is the prime place in the region to do business. DCCI, said that the total bilateral trade between Dubai and Turkey reached about US$343 million in 1999. A further and substantial increase in the bilateral trade between the two areas ...  >>MORE

Dubai's exports, re-exports to Qatar jump to Dh2.7 b in 2001

Posted on 21/03/2002

Director General of Dubai Chamber of Commerce and Industry (DCCI) Abdul Rahman Al Mutaiwee said Qatar had edged up to the fourth rank in Dubai's export and re-export destinations, after Iran, Saudi Arabia and Kuwait. Export and re-export goods from Dubai to Qatar stood at Dh2.7 billion in 2001, of which Dh829 million were sent via the Jebel Ali free zone,' Al Mutaiwee said during talks with Qatari Consul General Yousuf Saad Al Mana. Both officials expressed satisfaction at the progress of trade ...  >>MORE

Australian exports to UAE up 20 per cent

Posted on 19/03/2002

Australian exports to the UAE amounted to Dh2.4 billion last year, recording a 20 per cent increase over the previous year. The UAE exports to Australia were worth almost Dh1.8 billion last year, according to a press release from the Australian Embassy in Abu Dhabi. These figures demonstrate the increasing importance of the UAE as a trade partner for Australia, said Ambassador John Hines, adding that Australian exports to the UAE have increased by 36 per cent or Dh875 million in the past three ...  >>MORE

Fujairah Chamber clears working plan for 2002

Posted on 17/03/2002

The Fujairah Chamber of Commerce, Industry and Agriculture has approved its working plan for 2002, which includes the speeding up of construction of the new premises. The plan was discussed at a meeting of the board of directors chaired by Khalifa Khamis Mattar Al Kaabi, chairman. Khaled Mohammed Al Jasim, acting director general, said that the plan included several recommendations such as the construction of a new building for the chamber and its branch in Dibba. The computer network ...  >>MORE

China to export dates to UAE

Posted on 17/03/2002

Odd as it may sound, China will shortly start exporting dates to the UAE. The country will also start, or step up, supplies of bamboo shoots, baby corn, apples and pears, among other fresh agricultural produce, stated Wang Shuzhen, deputy director and senior economist, Shanxi Foreign Trade and Economic Cooperation Bureau. "The dates we produce are unique to this region with their own special flavour, quite different from those grown elsewhere." Exports to the emirates before 2001 had been ...  >>MORE

Arab Chambers Federation issues Doha Declaration

Posted on 13/03/2002

The Council of the General Federation of the Chambers of Commerce, Industry and Agriculture of the Arab countries stressed today the importance of setting up a Common Arab Market as an essential provision for any real economy based on optimal utilization of Arab resources within the framework of a unified market. The Council, therefore, emphasized that the Greater Arab Free Trade Zone should become reality as soon as possible, being the way towards setting up an Arab Customs Union in ...  >>MORE

Indonesia to set up trade centre in Dubai

Posted on 25/02/2002

Indonesia is opening a new trade promotion's centre in Dubai next month in a bid to boost business ties with the UAE, the Gulf's leading re-export centre. The embassy will soon open a newly-refurbished office on the fourth floor of Arabiz Tower Building, in Dubai's Al Rigga District, said Tri Surya, head of the economic section at the Indonesian embassy in Abu Dhabi, according to a report in "Gulf News”. The 122-square-metre Indonesian Trade Promotion Centre will exhibit its key export products ...  >>MORE

Dubai non-oil trade enjoys major boom

Posted on 21/02/2002

Boosted by a 20 per cent increase during the last quarter, Dubai's non-oil trading volume is expected to have crossed the Dh100 billion mark in 2001, according to a senior official of the Dubai Chamber of Commerce and Industry. "While official figures are not available yet, volumes should have crossed Dh100 billion, and during the last three months the activity was particularly strong. The immediate impact of September 11 was confined to a couple of sectors, and these are also easing now," said ...  >>MORE

UAE-Switzerland trade surges

Posted on 19/02/2002

Trade between Switzerland and the UAE has continued to improve on results from 2000 with almost Dh1.7 million worth of goods exported from Switzerland to the Emirates last year. From January to the end of November, Dh1.68 billion worth of goods were exported from Switzerland to the UAE. This was a 29 per cent increase on the Dh1.59 billion worth of goods that was traded in 2000. During the same period, the UAE exported goods to Switzerland worth Dh261.4 million which was almost a 30 per ...  >>MORE

Abu Dhabi non-oil trade surges 2.2pc in 2001

Posted on 03/02/2002

Abu Dhabi's non-oil trade grew slightly by around 2.2 per cent in 2001 despite a decline in exports, while Saudi Arabia, Japan and the West emerged as top exporters to the emirate, official figures showed yesterday. Total trade stood at around Dh23.22 billion in 2001 compared with Dh22.7 billion in 2000, according to a report distributed by Mohammed Saleh Al Darmaki, chairman of Abu Dhabi Customs Department. The increase was only in imports, which rose to around Dh21.2 billion from Dh20.6 ...  >>MORE

Dubai dhows have busy trade

Posted on 31/01/2002

A total of 7,116 dhows carried 131,000 tonnes of goods in Dubai Creek during 2001, according to a report by the Ports, Customs & Free Zone Corporation on 29 January. The report stated that in 2001, 12,208 dhows left Dubai Creek carrying 4 million tonnes of goods. The main re-export destinations, were Iran, Somalia, Kuwait and Yemen followed by India, Pakistan, and the GCC states. The main re-export cargoes included, electronic goods, food, tyres, clothing, sewing machines, stationery equipment, ...  >>MORE

Indian exports to UAE may slow down

Posted on 30/01/2002

A weak second half may result in the levelling off of India's exports to the UAE for the 12 months ending March 31, 2002, after recording growth of 10-20 per cent in the last three years, according to the Indian ambassador. The full extent of the decline will be known only by end March, which marks the end of the current financial year for India. During 2000-01, Indian exports to the UAE totalled $2.6 billion, with gems and jewellery, and garments representing a third of the total. ...  >>MORE

UAE's trade with Egypt soars 37pc

Posted on 29/01/2002

The volume of trade between the UAE and Egypt has recorded a significant growth of 37 per cent from Dh336 million in 1999 to Dh463 million in 2000, according to Abdullah Hussain, commercial consul in Egypt Embassy in Abu Dhabi. Hussain was speaking at a Press conference to announce the details of the 3rd edition of the Egyptian Show beginning tomorrow at Sharjah Expo. The exhibition will last till February 8. Hussain said the UAE is an important trade partner of Egypt. For instance, Egyptian ...  >>MORE

Dubai's trade outflow hits new record

Posted on 28/01/2002

The value of exports and re-exports from Dubai to 109 countries reached a record high of Dh39.4 billion last year - showing a 21 per cent increase over 2000, according to Obaid Humaid Al Tayer, president of the Dubai Chamber of Commerce and Industry. Al Tayer said Iran and Saudi Arabia were the main markets for Dubai's exports and re-exports, while speaking at the opening of the Glass, Ceramics, Minerals and Mining Show at the Dubai World Trade Centre. The chamber issued 238,000 ...  >>MORE

Plan to promote Abu Dhabi as ideal investment centre

Posted on 28/01/2002

The Abu Dhabi Chamber of Commerce and Industry is embarking on a five-year plan (2002-2006) to project Abu Dhabi globally as an ideal investment and business centre of the region with a view to help the industrialisation plan of the Emirate. Saeed Saif bin Jaber Al Suweidi, Chairman of the UAE Federation of Chambers of Commerce and Industry and President of the ADCCI disclosed this at a meeting with Commercial Attaches of various embassies in the UAE and the representatives of business groups ...  >>MORE

Dibba Al Fujairah records rise in trading

Posted on 27/01/2002

Dibba Al Fujairah Municipality recorded a slight rise in the number of trading licences issued during 2001, compared with figures for 2000. A total of 1,350 new and renewed licences were issued last year compared with 1,318 in 2000. "Due to the normal increase in population, the municipality issued more commercial, professional and contracting licences, in addition to licences of new companies and factories," said Mattar Saleh Al Kaabi, Director of the municipality. He pointed out that the ...  >>MORE

Abu Dhabi non-oil trade soars on strong imports, exports

Posted on 27/01/2002

An increase in imports, exports and re-exports during December 2001 have buoyed Abu Dhabi's non-oil trade, reinforcing the country's position as the region's leading trading centre, according to the latest figures released yesterday by the Abu Dhabi Customs department. India was the leading export destination from Abu Dhabi with exports rising to Dh30.6 million in December last year. The emirate's imports surged to Dh1.66 billion compared to Dh1.48 billion during the corresponding period the ...  >>MORE

UAE likely to record Dh16b trade surplus

Posted on 25/01/2002

The UAE is expected to record a trade surplus of Dh16.04 billion, equivalent to 7 per cent of the GDP in 2001, according to a study. The trade surplus is set to decline to Dh9.68 billion in 2002 with the expected weakening of oil prices, said the latest country report on the UAE by Business Monitor International (BMI). The UAE posted a trade surplus of Dh33.8 billion in 2000, according to provisional official figures. The Central Bank is yet to update provisional balance of payments figures ...  >>MORE

UAE Egypt trade surges

Posted on 21/01/2002

The UAE is an important trade partner for Egypt with bilateral trade continuing to grow, as per Abdullah Mohammed Hussain, Egypt's commercial counsellor. The UAE's imports from Egypt jumped 49 per cent to 189 million Egyptian pounds in 2000, even as exports surged 32 per cent to 274 million pounds. The increase in the UAE's exports was due mainly to a rise in re-exports. The two countries already share accords on dual taxation and investment protection. (The Gulf News) ...  >>MORE

ADCC to set up a new export fund

Posted on 21/01/2002

The Abu Dhabi Chamber of Commerce and (ADCC) will set up a new "export fund " to boost the competitive edge of national exports, ADCC's Director Saeed Saif bin Jabr Al Suwaidi has announced. Suwaidi also unveiled plans to set up a bureau that will be in charge of providing facilities to businessmen and investors, with as little bureaucracy as possible and also shorten the process of finalising the transactions of investors. Young local investors will also be assisted by the ADCC in conducting ...  >>MORE

UAE-Indonesia trade reaches US$1b in 2001

Posted on 14/01/2002

UAE-Indonesia trade touched the US$1 billion-mark last year, according to Ibrahim Yusuf, Indonesian ambassador to the UAE. Meanwhile, Sharjah Chamber of Commerce & Industry yesterday signed an MoU with its counterparts from Central Java aimed at increasing the pace of technology transfer into the region while boosting bilateral trade. Despite a lull in global trade, trade between the UAE and Indonesia has maintained its pace of growth over the last few years, including the post-September 11 ...  >>MORE

RAK exports hit Dh348m in first half

Posted on 10/01/2002

Ras Al Khaimah's exports topped Dh348 million in first-half 2001, said a Ras Al Khaimah Chamber of Commerce, Industry and Agriculture report, issued yesterday. The exports were to 38 Arab and foreign countries, with most of the trade concentrated within the region. Saudi Arabia with a dominant 47.58 per cent share totalling Dh165.58 was its biggest market, with second-placed Kuwait accounting for 21.84 per cent (Dh76 million), and Bahrain in third slot with 7.05 per cent (Dh24.52 million). ...  >>MORE

Abu Dhabi sea cargo imports up in November

Posted on 31/12/2001

Total value of shipment volumes through Abu Dhabi during November totalled Dh2.08 billion, with imports accounting for Dh1.92 billion. Exports totalled Dh60 million plus, while re-exports were Dh103 million. Against the corresponding period in 2000, when imports were valued at Dh1.71 billion, the growth in inbound shipments represents a 12.2 per cent rise. Machinery, sound recorders and allied items represented the primary import category with a value of Dh569 million, followed by vehicles ...  >>MORE

UAE imports from India surge 31 per cent

Posted on 31/12/2001

India's exports to the UAE has jumped by 31 per cent to reach US$2.6 billion in 2000-01 with total trade between the two countries touching US$3.25 billion. But total bilateral trade was down 23 per cent, compared to US$4.412 billion in 1999-2000, largely due to UAE's decreased oil exports to India. In 2000-01, UAE's exports to India collapsed to US$650 million from US$2.33 billion, a fall of 71 per cent. India imports mainly crude oil from the UAE. India has stopped buying diesel, relying ...  >>MORE

UAE non-oil sector posts 6.6pc growth

Posted on 30/12/2001

The construction and services sector contributed 11.6 per cent or Dh18.4 billion to the UAE's non-oil economic sector in 2000, observed Saeed Obaid Al Jarwan, director general, Sharjah Chamber of Commerce and Industry. The medical, healthcare, education and social services sector's share was around 15 per cent, or Dh24.6 billion, he said. The non-oil sector itself expanded 6.6 per cent to Dh160 billion, he noted in the latest issue of Al Tijarah, the chamber's official monthly. "Total ...  >>MORE

UAE bans import of Japanese cows and beef products

Posted on 27/12/2001

Saeed Mohammed Al Raqabani, Minister of Agriculture and Fisheries, banned imports of live cows and all beef products from Japan into the UAE on 22 December. His decision was made after the receiving information from the Paris based International Plague Office that cases of Mad Cow Disease had been detected in Japan. The ban 'will have no impact on the UAE market, as the UAE does not import meat products from Japan', said Khalid Mohammed Sharif, Assistant Director of the Public Health ...  >>MORE

Taiwan’s trade with UAE rise 9.7 per cent

Posted on 26/12/2001

Taiwan's trade with the UAE has recorded a 9.7 increase in the first eight months of the year, according to Taiwan Trade Centre in Dubai. Taiwan's export to the UAE during this period was worth US$525 million. Conversely, Taiwan figured as Dubai's tenth largest importing source as well as Dubai's fourth largest export market for non-oil products in 1999. Taiwan's import to from the UAE, at US$624 million, also showed an increase of 16 per cent over the previous year. Taiwan's major exports ...  >>MORE

UAE-Hong Kong trade grows 21pc

Posted on 27/11/2001

Despite the global slowdown, bilateral trade between UAE and Hong Kong has reached $1.3 billion during the first nine months of this year, registering a 21 per cent growth, and thus enabling the UAE to maintain its lead as Hong Kong's largest trading partner in the Middle East. The UAE takes up some 40 per cent of Hong Kong's trade here, said Cheuk F. Ng, director, Middle East, Hong Kong Trade Development Council. Total exports from Hong Kong to the UAE stood at US$822 million in the first ...  >>MORE

UAE stress on developing states’ right

Posted on 12/11/2001

The UAE stressed today that developing nations had the right to know their real position as regards to the current agreements of the World Trade Organisation (WTO) before they make any new commitments and obligations. Speaking before the 4th WTO's ministerial conference in Doha, Sheikh Fahim bin Sultan Al Qasimi, Minister of Economy and Commerce, said the forum was providing a rare opportunity to assess the WTO achievements, adding that the UAE had understood demands of some countries for a ...  >>MORE

Abu Dhabi trade falls in first nine months

Posted on 11/11/2001

A noticeable decline in exports and re-exports and a marginal one in imports led to an overall contraction in Abu Dhabi's trade during the first nine months of this year, according to latest figures from Abu Dhabi Customs. Exports from Abu Dhabi slipped 13 per cent to Dh739.58 million in the nine months from Dh852.04 million last year. Exports to Oman and India were down 50 and 43 per cent respectively, while there was a sharp decline in exports to some other countries as well. Similarly, ...  >>MORE

UAE, Iraq ink trade protocol

Posted on 10/11/2001

The UAE and Iraq have agreed to waive tariffs on national commodities and products and provide effective protection to intellectual, commercial industrial property rights. An agreement for creating a free trade zone was signed last Week between the two countries on the sideline of the 34th edition of Baghdad international trade fair. A total of 72 UAE businessmen and 65 companies took part in the event. The agreement, which entered into force immediately after its conclusion, was part of the ...  >>MORE

Cabinet clears UAE office at WTO

Posted on 06/11/2001

The federal cabinet held yesterday its regular weekly meeting under the Chairmanship of His Highness Sheikh Maktoum bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. During the meeting, the cabinet accorded approval to the letter of Minister of Economy and Commerce regarding establishment of a UAE permanent office in the World Trade Organisation (WTO) in Geneva and providing it with specialised technical staff. The cabinet also accorded its approval to the letter of ...  >>MORE

UAE planning new department to boost exports

Posted on 04/11/2001

The UAE Ministry of Finance and Industry is working on a plan to establish and independent plan to establish an Independent government body to develop, support and finance exports of national products, Mohammed Ali bin Zayed, Assistant Under Secretary, Ministry of Finance and Industry said. The new body will be established before the beginning of the new year. The idea of creating such a department was prompted by the big demand for UAE products in many markets in the region. The ministry is ...  >>MORE

UAE-IRAQ sign free trade agreement

Posted on 03/11/2001

UAE and Iraq signed here today a free trade agreement, which will see the scrapping of tariffs under a preferential trade agreement between the two countries. Sheikh Fahim bin Sultan Al Qasimi, Minister of Economy and Commerce, signed for the UAE, while the Iraqi trade Minister, Mohammed Medic Sale, also signed for his country during a short ceremony held here at the premises of the Iraqi Trade Ministry, and attended by a number of senior officials from both sides. In a statement after signing ...  >>MORE

Two federal bodies being set up

Posted on 23/10/2001

Two national level organisations - the National Authority for Metrology and Standardisation, and another to develop and finance industrial exports - are being set up, top government officials announced yesterday. The Ministry of Finance and Industry is setting up the National Authority for Metrology and Standardisation as per WTO requirements, said Dr. Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs, in his address at a seminar. Moreover, an independent ...  >>MORE

UAE remains Italy's top Middle East market

Posted on 25/09/2001

The UAE remained Italy's top Middle East market last year with exports rising 14.3 per cent to Dh5.95 billion, according to a senior trade official. "Exports in the first five months this year have also increased 9 per cent over 2000," Trade Commissioner Massimo Sessa said. Sessa ascribed the reason for the rise in exports to constant promotional activities. The UAE surpassed Saudi Arabia as Italy's top Mideast market in 1999, but the kingdom remains a major destination for Italian products, ...  >>MORE

UAE's re-export sector sluggish, long term outlook positive

Posted on 03/09/2001

UAE's re-export sector has shown signs of sluggishness in recent times, mainly due to slowdown in destination markets and stagnation in some key sectors. However, the long-term outlook for the re-exports sector is positive, according to a new study by the Journal of the Emirates Industrial Bank (EIB). The study noted that in 1999, re-exports registered a marginal decline. "At around two per cent, the decline though only slight, nevertheless indicates a current standstill in the re-export ...  >>MORE

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Quick List

Sri Lankan tea exports to UAE record good growth


Japan non-oil trade with UAE set to rise


Good potential to increase UAE-China commercial co-operation


Lanka in bid to boost ties with the UAE


Turkey aims to boost trade ties with Dubai


Dubai's exports, re-exports to Qatar jump to Dh2.7 b in 2001


Australian exports to UAE up 20 per cent


Fujairah Chamber clears working plan for 2002


China to export dates to UAE


Arab Chambers Federation issues Doha Declaration


Indonesia to set up trade centre in Dubai


Dubai non-oil trade enjoys major boom


UAE-Switzerland trade surges


Abu Dhabi non-oil trade surges 2.2pc in 2001


Dubai dhows have busy trade


Indian exports to UAE may slow down


UAE's trade with Egypt soars 37pc


Dubai's trade outflow hits new record


Plan to promote Abu Dhabi as ideal investment centre


Dibba Al Fujairah records rise in trading


Abu Dhabi non-oil trade soars on strong imports, exports


UAE likely to record Dh16b trade surplus


UAE Egypt trade surges


ADCC to set up a new export fund


UAE-Indonesia trade reaches US$1b in 2001


RAK exports hit Dh348m in first half


Abu Dhabi sea cargo imports up in November


UAE imports from India surge 31 per cent


UAE non-oil sector posts 6.6pc growth


UAE bans import of Japanese cows and beef products


Taiwan’s trade with UAE rise 9.7 per cent


UAE-Hong Kong trade grows 21pc


UAE stress on developing states’ right


Abu Dhabi trade falls in first nine months


UAE, Iraq ink trade protocol


Cabinet clears UAE office at WTO


UAE planning new department to boost exports


UAE-IRAQ sign free trade agreement


Two federal bodies being set up


UAE remains Italy's top Middle East market


UAE's re-export sector sluggish, long term outlook positive