Dubai Chamber members' exports up by nearly 24% in March

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DUBAI- The value of exports and re-exports carried out by members of the Dubai Chamber of Commerce and Industry increased by nearly 24 percent to reach AED22.1 billion in March 2021, compared to the same month last year, the organisation has revealed.

During the first quarter of 2021, the value of members' exports and re-exports grew by 6.5 percent year-over-year (y-o-y) to reach AED54.8 billion, reflecting growing momentum and increased trade activity in Dubai, said a statement issued by Dubai Chamber on Sunday.

A total of 166,759 certificates of origin were issued by the Chamber during the first quarter of this year and March saw a high of 62,235 certificates, reflecting signs of a recovery of the trade sector and enhanced economic competitiveness.

Over 6,000 new member companies joined Dubai Chamber in the first three months of 2021, marking a growth rate of 38.6 percent y-o-y. Membership growth comes after several new initiatives and measures were unveiled over the last year, which enhanced Dubai’s value proposition to foreign investors and companies.

In addition, 174,000 electronic transactions were processed by the Chamber in the first quarter 2021, while the number of ATA Carnets (an international customs document that permits duty-free and tax-free temporary importation of goods for up to one year) that were issued and received by the Chamber reached 965 over the same period, amounting to AED1.4 billion.

Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry, said the statistics reflect improving business conditions in Dubai and the positive impact of various stimulus packages and business-friendly measures, as well as an advanced logistics infrastructure and increased efforts to boost and diversify the emirate's foreign trade.

Buamim noted that Dubai Chamber’s 11 international offices play a crucial role in expanding Dubai’s trade links with promising markets around the world, by identifying bilateral business opportunities, promoting the emirate as a global business hub, and assisting foreign investors who are keen to enter the market.