COMMERCIAL NEWS
Dubai-S Africa grows 17% to top $4.2bn in 2020
Apr 7, 2021 2:25 PM
Dubai s trade with South Africa grew 17% to AED15.71 billion ( 4.27 billion) from AED13 billion in 2019 delegates heard at an investment and trade seminar organized by South Africa s Department of Commerce....
Dubai’s trade with South Africa grew 17% to AED15.71 billion ($4.27 billion) from AED13 billion in 2019, delegates heard at an investment and trade seminar organized by South Africa’s Department of Commerce.
Dubai Customs delivered a presentation on Dubai’s trade with South Africa and the available opportunities to grow mutual trade between the two sides.
Following the vision of Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai and the Dubai external trade plan, Dubai will raise the value of its foreign trade from AED1.4 trillion to AED2 trillion in the next five years.
In the virtual seminar, which saw active participation from international firms, Rashid Darwish, head of Customs Procedures Section at Tariff and Origin Department released figures that showed growth in mutual trade between Dubai and South Africa.
Darwish said: “There is noticeable growth in trade between Dubai and South Africa despite the big challenge posed by the spread of the covid-19 pandemic. More growth is expected in the future thanks to the wise planning and highly advanced facilities and services Dubai provides to the foreign trade sector. Dubai always turns challenges into opportunities and there are promising prospects ahead by exploring the foreign markets.
“Agricultural and food products are the main commodities in Dubai trade with South Africa. Imports of these products in 2020 grew 11.7% to AED1.34 billion in 2020 from AED1.2 billion in 2019. Investors can benefit from the great facilities and streamlined procedures and services Dubai offers to grow their business in different sectors and tap into the world’s markets.”
The head of the Customs Procedures Section elaborated on the customs clearance requirements and the procedures followed in inspection at Dubai Customs reaffirming Dubai Customs’ policy of facilitating global trade using the latest and most advanced technologies and AI applications. – TradeArabia News Service
 + 10000000) + '&millis=' + new Date().getTime() + '&referrer=' + encodeURIComponent((window != top && window.location.ancestorOrigins) ? window.location.ancestorOrigins[window.location.ancestorOrigins.length - 1] : document.location) + ')
 + 10000000) + '&millis=' + new Date().getTime() + '&referrer=' + encodeURIComponent((window != top && window.location.ancestorOrigins) ? window.location.ancestorOrigins[window.location.ancestorOrigins.length - 1] : document.location) + ')
COMMERCIAL NEWS
MoF launches 'digital public consultation' on R&D tax relief Apr 19, 2024 14:58 PM
The UAE Ministry of Finance (MoF) has launched a digital public...
ADGM wins 'Most Trusted Financial Centre Brand’ award Apr 19, 2024 10:11 AM
Abu Dhabi Global Market (ADGM) has clinched the top spot as the...
GCC insurers’ top-line growth to be 5pc-15pc in 2024: S&P Apr 18, 2024 12:18 PM
S&P Global Ratings expects GCC insurers top-line growth to range...
Every dirham lost to fraud in UAE costs firms AED4.19: study Apr 17, 2024 16:52 PM
Businesses in EMEA now bear a cost of fraud that is 3.90 times the...
Sukuk market set to grow; GCC DCM to cross $1 trillion Apr 17, 2024 16:24 PM
Sukuks are expected to grow further through the remainder of 2024...
Tech firm launches digital supply chain financing solution Apr 17, 2024 13:27 PM
Codebase Technologies a UAE homegrown financial technology platform...