Dubai non oil trade in H1 rises by 18pct YoY

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Source:  www.steelguru.com

Khaleej Times reported that Dubai’s non oil trade soared 18% in the H1 that shows excellent performance of the sector.

Dubai metro
Dubai metro

Mr Eng Hamad Buamim DG of Dubai Chamber said that H1 non oil trade recorded at AED 279 billion compared to AED 237 billion over the same period last year.

Mr Buamim said that the export figures of recent times and sectoral performances are best indicators to sum up the trend that shows encouraging figures from our members’ export and re-export activities.

He said that this annual event provides us with yet another networking opportunity to catch on and buildup our trade relations and work towards the future as a strong Dubai business community and to set an example in promoting Dubai as an international business hub.

He mentioned that fundamentals of economy stood strong but business sentiment are still cautious. We require more consumer spending and more business.

Mr Buamim also stressed that it’s the chamber’s top priority in strengthening the partnership between the public and private sectors but cautioned the business community on its overdependence on the government and to work together for economic recovery as well as to promote Dubai as a global trade, logistics and tourism centre. He said that we believe we all need to work together. We need to be more optimistic.

Mr Buamim cited the example of the number of passengers traveling through Dubai International Airport, which clocked a record of 4 million passengers in July while the hotel occupancy stood at 80% in June.

He said that the timely launch of the Dubai World Central’s Al Maktoum International Airport’s cargo hub, the fast expanding Dubai Metro and other infrastructure spending by the government which will generate further opportunities for businesses and investors alike.