The Q1 data released by Dubai Chamber of Commerce and Industry recently clearly shows that Dubai's economy is firmly back in the saddle and ready to make giant strides.
The first quarterly report highlighting the 7.8 per cent rise in the value of exports and re-exports by members in comparison to Q1 of 2011 confirms the status of the trade sector including exports and re-exports as one of the frontrunners of Dubai's economic growth.
The first quarterly report of 2012 reveals that the value of Dubai Chamber members' exports and re-exports was Dh63.5 billion compared to Dh 58.9 billion during the same period in 2011 while the monthly March exports and re-exports was Dh 23 billion and February was lowest with a value of Dh17.6 billion.
During the same period, Dubai Chamber issued a total of 177,502 Certificates of Origin which is an increase of 5.3 per cent, compared to the 168,558 Certificates of Origin issued during the first three months of 2012. January was the month with the highest number of certificates issued numbering 60,558, while February was the month with the least totalling 57,330.
Between January and March a total of 3,449 new members joined Dubai Chamber which increased the total number of Dubai Chamber members to over 131,900.
The quarterly data also shows that during the first three months Dubai Chamber received 35 international delegations comprising of 358 delegates. These groups came from Saudi Arabia, Japan, Germany, Sudan, Chile, Jordan, Egypt, Hungary, Turkey, Hong Kong, US, Tajikistan, Tunisia, China, Latvia, Portugal, Lebanon, UK, Australia, Ghana, Russia, Lithuania, Uruguay, Malaysia, Uganda, Norway, Iran and France.
Dubai Chamber participated in 16 events around the world, particularly in countries like Canada, US, Libya, Ethiopia, France, Tanzania, UK, Belgium and Oman to promote Dubai while also took an outbound delegation to the Consumer Electronics Show 2012 in Las Vegas.
Hamad Buamim, Director General, Dubai Chamber, said the first quarter results are quite encouraging and points at the continued strength of Dubai's economy while enhancing the emirate's position as a thriving investment destination.
Buamim lauded the role of the trade sector which he said is responsible for the overall health of Dubai's economy which is supported by its strategic location, advanced infrastructural and financial facilities, unconditional government support and a competitive and safe business environment.
The Director General of Dubai Chamber stressed on the organisation's efforts in exploring new and emerging markets for its members as he informed that the Chamber is all set to send out trade missions to the world's promising markets including Surat in India and Ethiopia to enhance the competitiveness of Dubai businesses which is one of the top priorities of Dubai Chamber in the coming months, he said.
Buamim also stressed on Dubai Chamber's mission of representing, supporting and protecting the interests of the business community by highlighting the value-added services and facilities offered by the Chamber which he said directly help in enhancing the business environment as well as the confidence of foreign investors.