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Dubai Chamber members exports in Q1 touches AED 50.7 billion mark

Chamber's quarterly report shows export figures recording 15% rise than the preceding quarter of 2009

7% increase in number of Certificate of Origin issued

34 trade delegations received as the Chamber launches new initiatives for exploring emerging markets of Africa and Latin America
Dubai, UAE: Dubai Chamber of Commerce & Industry's quarterly report revealed that the volume of exports of its members in the first quarter of the year touched AED 50.7 billion which is 15% higher than the preceding quarter of 2009 with March alone recording the highest monthly export total of AED 18.7 billion which is 22% higher than the same period in 2009.

Also, the February 2010 exports increased by 14% compared with February 2009 touching AED 16.2 billion, where as January 2010 recorded an export value of AED 15.9 billion, an increase of roughly 10% over the same period of 2009. According to the report this is a clear indicator that the export sector has regained its momentum and its long tradition of being the driving force behind Dubai's developed economy.

The data also showed that the number of Certificates of Origin issued by Dubai Chamber during the first quarter of this year was 153,332, higher by 7% compared to the number of Certificates issued during the same period last year. The number of Certificates of Origin issued by the Chamber in March this year stood at 57,144 compared to 48,151 certificates of origin issued in February 2010 and 48,036 certificates of origin issued in January 2010.

The total number of mediation cases received by the Legal Services Department during the first quarter of the year was 272 compared to 166 in the same period in 2009 which is 64% higher. Dubai International Arbitration Centre, an initiative of Dubai Chamber receieved 72 arbitration cases in the 1^st quarter of 2010 compared to 42 cases received in the 1^st quarter of 2009. This is an increase of 71% and an indication of the increased awareness of Dubai's business community of the importance of arbitration as an effective, fast and affordable method for settling commercial disputes.

The number of delegations received by the Chamber during the first quarter was 34 and included 306 businessmen and the visiting delegations came from different countries like Egypt, South Africa, France, Georgia, Greece Japan, Australia, the Netherland and China.

As part of its strategic objectives of creating a favourable business environment, supporting the development of business and promoting Dubai as an international business hub, Dubai Chamber launched its newest initiative of Country Focus Briefing with Chile in the spotlight as part of the strategy to explore new markets for its members as well as the Services Briefing providing participants practical account of the Chamber's services.

The Chamber hosted 45 members of the American Chamber of Commerce Executives (ACCE) heads at the US-Dubai 2010: Executive Business Leaders Mission to Dubai in March and participated in the World Chambers Federation meeting in Paris and visited top US Chambers officials in Los Angeles and Las Vegas on the sidelines of the Consumer Electronic Show.

Also, as part of its networking initiatives, the Chamber hosted delegates at major Dubai exhibitions including Arab Health, Gulfood, Cityscape and hosted 135 delegates, mostly students, at the jointly organized Georgetown University at The Gulf Region after the Global Economic Crisis Forum and various Business Group and Business Council networking meetings as the strength of the Business Councils went up to 38 with Hellenic, Chinese and Tunisian councils joining in under the umbrella of the Chamber.

Dubai Chamber of Commerce & Industry organised the first Economic Seminar of 2010 which covered three important topics including Dubai Traders' Outlook for 2010, Competitiveness Agenda for Dubai: Implications and Issues and New Business Environment beyond Crisis which was attended by the Chamber's members from the trading community.

HE Eng Hamad Buamim, Director General, Dubai Chamber said that there are a number of positive indicators coming out of the first quarter of this year, as the Chamber members exports was the highest in recent times, Dubai airport welcomed an increased number of passengers touching the four million mark in March while the Emirate continues with its infrastructure projects which will boost the economic strength of Dubai.

Buamim added that on its part Dubai Chamber was doing everything within its means to serve the business community by enhancing their competitiveness in the global arena, as the economy is going back to the basics of trade and logistics which are the driving forces of Dubai's economy.

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Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favorable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

© Press Release 2010