Members' exports and re-exports reach Dh290 billion, 8% increase on 2012

Dubai: Dubai Chamber of Commerce and Industry attracted over 13,000 new members last year - the highest number of new start-ups in five years - taking its total membership to 153,000 companies, according to its annual report figures released yesterday. As Dubai's business community continues to grow, Dubai Chamber also saw its members' exports and re-exports increase last year to reach Dh 290 billion, an 8% increase on 2012 when exports and re-exports valued Dh 268 billion. The annual figures showed the number of certificates of origin (COs) issued for the year totalled 824,000, which is a 10% increase compared to the 748,000 COs issued in 2012. Meanwhile, Dubai Chamber issued and received a total of 2,242 ATA Carnets worth Dh 1.9 billion in 2013. Dubai Chamber issued 104 ATA Carnets worth Dh 150 million, which is a 57% increase on 2012, whereas the UAE received 2,139 ATA Carnets, worth Dh 1.75 billion. Hamad Buamim, President and CEO, Dubai Chamber, said: "Dubai had a year to remember with the Expo win and the continued growth of the economy. Dubai Chamber anticipates GDP growth of 5% in 2013. Likewise, Dubai Chamber reached new highs with a surge in new members and our activities in new markets. "Around 13,000 new companies joined us last year, which is the highest number of new start-ups in five years. This is a great sign of the strength of the economy and the ease of starting and operating a business in Dubai. Dubai Chamber is now one of the largest chambers of commerce in the Middle East and this was also reflects the global reputation of Dubai as a business hub." His Excellency said. Buamim said: "At the same time, Dubai Chamber made progress in reaching new global markets, with the opening of our second international representative office in Addis Ababa. This office is making a real difference to increase two-way trade and investment between Dubai and Eastern and Southern Africa. "For 2014 and the years ahead, three strategic platforms will guide our operations. Africa is one conversation that Dubai Chamber has been promoting for some years now. In 2013 we organised the Africa Global Business Forum, which helped to position Dubai's as the gateway into and out of the continent. We are delighted to be organising AGBF 2014 later this year," he said. "The Islamic economy is also another important strategic platform for business growth which we worked on in 2013 with the organisation of the Global Islamic Economy Summit. This is a major new economic area and has significant untapped opportunities in Islamic finance, halal tourism, food and lifestyle as well as halal certification and standardisation. Dubai is the ideal city to lead innovation in the Islamic economy and Dubai Chamber is honoured to be organising the 10th session of the World Islamic Economic Forum in Dubai in November," he said. Buamim said: "Thirdly, Expo 2020 is anticipated to generate around 275,000 jobs, attract 25 million visitors and add US$23 billion to the economy. There are going to be major new opportunities for businesses to grow and, as always, Dubai Chamber will be working behind the scenes to support them." - Emirates News Agency, WAM