Tuesday 29 November 2022 - 5:12:33 am

Dubai external trade with Italy grows 69% to AED15.84 billion in H1 2021

DUBAI, 11th November, 2021 (WAM) -- Within their efforts to develop cooperation and coordination with the foreign business groups in the country, Dubai Customs participated in a panel organised by the Italian Business Council on the future trends of exports and imports in the GCC.

Rashid Al Muhairi, Head of Customs Procedures Section at the Tariff and Origin Department, Dubai Customs delivered a presentation on the development of Dubai trade with Italy, which grew 81.7 percent in ten years to AED26.68 billion in 2020 from AED14.68 billion in 2010.

In the first half of 2021, trade with Italy grew 68.6 percent to AED15.84 billion from AED9.4 billion in the corresponding period in 2020.

Imports touched AED11.33 billion, exports recorded AED3.65 billion and re-exports totaled AED862 million.

Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion, and customs warehouse trade stood at AED46.683 million.

Airborne trade accounted for AED9.12 billion. Sea trade reached AED4.99 billion, while land trade weighed in at AED1.72 billion.

The initiatives that Dubai Customs developed in e-commerce were presented in the session. The Government Department has recently launched its Cross Border e-Commerce project.

The innovative platform utilises block chain technology to integrate and automate operations between Customs, Free Zones, logistics, and courier companies. It is the first of its kind in the region, and it aims to help the emirate become a global hub for e-commerce, and encourage e-commerce companies set their businesses in Dubai.

A number of specialists and experts in industry, export, financing exports and logistic services took part in the discussion panel.

WAM/Hazem Hussein