FCA, Dubai Exports partner to facilitate business, expertise
The Federal Customs Authority (FCA), signed a memorandum of understanding, MoU, with Dubai Exports Corporation, a Dubai economic institutions, with a view to boost joint collaboration, facilitate business and trade for Dubai emirate’s exporters and share information and expertise between the parties.
The MoU was remotely executed by Alia Almarmoom, Managing Director of Customs Affairs Sector, FCA, and Saed Alawadi, Managing Director of Dubai Exports Corporation.
Alia Almarmoom said the MoU embodies the FCA’s keenness to reinforce partnership relations with the most eminent strategic partners in foreign trade and customs operations in the country, and the desire to foster collaboration and coordination with these partners to pave the way for achieving UAE vision 2021, in addition to underpinning the prudent government’s strategy to attain sustainable development and a leading position in economy and customs regionally and globally.
“We are proud of our partnership with Dubai Exports Corporation and delighted to execute this MoU with it as it is the concerned entity in the emirate of Dubai to furnish exports promotion and developments services to local community and support industry in the emirate,” she added.
On his turn, Saed Alawadi said,
“The MoU reinforces the outlook of joint collaboration to unify efforts for stimulating exports and economy in general, as we strive to provide facilities and capabilities through Corporation’s services in addition to joint initiatives with our strategic partners according to which economic growth will be bolstered. Under such collaboration, the Federal Customs Authority will play a pivotal role in helping Dubai based companies to expand and enter world markets thanks to its provisions of statistics information and regulatory legislations.”
The MoU addresses leveraging collaboration and coordination between the two parties in sharing information, foreign trade-relevant statistics, supporting “Exporters Gateway” initiative to benefit from information and electronic services offered by the portal to find new markets for products and services, in addition to collaboration in the Authorised Economic Operator, AEO, and addressing foreign trade challenges across the emirate of Dubai.
Under the MoU, parties agreed upon navigating opportunities, organising joint trade promotion events, especially in terms of exhibitions, trade delegations, training sessions, workshops and forums, in addition to exchange of expertise through mutual meetings, workshops and specialised training sessions with a view to develop parties staff capabilities and enabling them take necessary measures and procedures to control exports and effective implementation of their pertinent controls.
Signatories will form a joint workforce that will be mandated to execute the MoU, convene regular meetings, follow up the set action plan, develop joint framework, ensure the attainment of agreed objectives and submit bi-annual reports on collaboration outcomes and results.
Dubai recorded Dhs551 billion worth of non-oil external trade in the first half of 2020. The emirate’s ability to minimise the impact of the pandemic-induced global economic slowdown on its trading sector reflects its exceptional logistics infrastructure, which enabled it to maintain uninterrupted trade flows and a streamlined supply chain.
Imports accounted for Dhs320 billion, exports Dhs77 billion, and re-exports Dhs154 billion. A total volume of 44 million tonnes of goods were traded through Dubai including 30 million tonnes of imports, 8m tonnes of exports and 6m tonnes of re-exports.
China maintained its position as Dubai’s largest trading partner in H1 2020 with Dhs66.4 billion worth of trade. India came in second with Dhs38.5 billion, followed by the USA in third place with Dhs31.7 billion, and Switzerland with Dhs24.3 billion. Saudi Arabia continued to be Dubai’s largest Gulf and Arab trade partner and its fifth largest global trade partner with Dhs24.1 billion worth of trade.
Dubai’s external trade showed considerable growth in May and June compared to April 2020, a period in which widespread lockdowns were enforced across the globe to combat the pandemic. Dubai’s external trade grew in May compared to April by 17.2% to reach Dhs75 billion, and again grew 20% in June compared to May to reach Dhs90 billion. The latest external trade figures for H1 2020 show strong integration between different modes of shipping: land, sea and air. Airborne trade accounted for Dhs250 billion, accounting for 45% of total trade. Sea trade reached Dhs212 billion (39%), while land trade touched Dhs89 billion (16%). Direct trade totalled Dhs320b, representing 58% of Dubai’s external trade, while trade through free zones reached Dhs227b(41%), and customs warehouse trade weighed in at Dhs4b (1%).
Sultan Bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation, said the emirate’s external trade sector is capable of overcoming the strong headwinds facing global trade thanks to the depth, resilience, diversity and flexibility of the Dubai economy.
“External trade is one of the key pillars of our economy. We are today reaping the fruits of the vision of our country’s founding leaders and our strong strategic planning, backed by decades of hard work in creating a robust trading and logistics infrastructure. Dubai’s external trade sector has shown a high level of preparedness in dealing with the crisis. It has provided exceptional trading facilities and services to help businesses around the world overcome the challenges of the current period,” he said.
Source : Gulf Today | Photocredit : Google