Dubai in relentless quest to redefine standards as a leading global trade hub

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, He reaffirmed that Dubai continues to enhance its position as a leading global hub for trade and logistics services ably guided by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.

Dubai’s growth continues to exceed expectations and its targets under the Dubai Economic AgendaD33, launched by sheikh mohamed, His height he said, highlighting that D33 aims to firmly place Dubai among the top three urban economies globally, significantly increase its economic and trade competitiveness and expand the horizons of its international trade.

Sheikh Hamdan He highlighted that the continued growth in the volume of Dubai’s non-oil foreign trade reflects the extent of Dubai’s strong and effective partnerships with strategic partners around the world, in addition to the thriving partnership between the public and private sectors. Dubai’s success was also underlined by the tireless efforts to ensure that all the necessary factors were maintained to maintain its privileged position in various economic and commercial sectors. His height aggregate.

“The exceptional performance of the non-oil foreign trade sector and the continued momentum achieved by this vital sector in Dubai strengthens its position as a vital starting point for trade with various regional and global markets, and as a major center of attraction for traders and businessmen,”

His height saying.

“For companies and companies wishing to expand their activity in the region and beyond, Dubai offers unparalleled advantages in terms of its strategic location at the crossroads of global trade, transparency in business processes and world-class facilities that translate into a immense ease to do it. business,”

he added.

Sheikh Hamdan He highlighted the stupendous growth recorded by Dubai in terms of non-oil trade as a testament to its distinctive entrepreneurial spirit.

“Dubai’s non-oil foreign trade reached AED 2 trillion in 2023, a year ahead of schedule.

“This shows the resilience of the emirate and its ability to overcome global challenges facing supply chains, improve its competitiveness and lead future transformations in the global trade scene, to continue achieving the objectives of its economic agenda,” he said. “Dubai remains steadfast in achieving its economic goals under D33, raising the total foreign trade volume from AED 14.2 trillion in the last decade to AED 25.6 trillion in the next decade.”

Dubai has further fueled its rapid growth in non-oil foreign trade with a flurry of successful investments in advanced technologies to Dubai Customs. The department processed more than 26.5 million customs declarations in 2023, marking an all-time high compared to 22.5 million declarations in 2022, representing a growth of 18%. In addition, a 15% increase was recorded in the volume of goods traded by land in 2023, in addition to a 9% growth in goods transported by air and 8% by sea.

ambitious goals

His Excellency Sultan bin Sulayem, Chairman and CEO of DP World Group and Chairman of the Ports, Customs and Free Zones CorporationHe stressed that, after the presentation of the five-year plan by His Highness Sheikh Mohammed Bin Rashid, the immediate response was the formation of a team under his leadership and the beginning of an ambitious program. This program aims to achieve Dubai’s target of AED 2 trillion by 2025, focusing on doubling the value of Dubai’s non-oil foreign trade (including exports, imports and re-exports). The team is made up of strategic partners of Dubai Customs, representing government and private entities, with the objective of studying the current conditions and proposing and implementing various initiatives, whether incentive-driven, legislative or logistical. The ultimate goal is to enhance Dubai’s competitiveness and solidify its strategic position in global trade, seamlessly connecting the north, south, east and west of the world.

Despite the challenges posed by the global Covid-19 pandemic, the program effectively overcame the difficult phase, showcasing Dubai’s remarkable ability to support resilient global supply chains and lead the recovery in the trade sector.

HE Bin Sulayem saying:

“The program encompasses several initiatives designed to simplify trade, increase profits for businesses and traders and introduce new avenues of trade. Among these efforts is the cross-border e-commerce platform, which uses blockchain technologies to optimize supply chains. It aims to improve the market presence of Dubai-based companies in local and regional e-commerce distribution by reducing overall e-commerce operation costs by 20%. In addition, the authorized economic operator program establishes connections between UAE customs and those of other countries such as South Korea, China, India, Indonesia and the Gulf Cooperation Council countries. This is achieved through mutual recognition agreements to facilitate secure commercial exchange with these nations. The emphasis of these initiatives lies on facilitating business processes.”

For its part, His Excellency Ahmed Mahboob Musabih, Director General of Dubai Customs, Executive Director of Ports, Customs and Free Zone Corporationsaying:

“Dubai Customs has gone to great lengths to enhance the growth of Dubai’s international trade by providing exceptional services and facilities. Operating digitally 24 hours a day, our systems handle approximately 85,000 transactions daily, a figure set to grow given the boom in commerce in Dubai and the influx of trading companies setting up bases in the city. Our commitment to being a fully paperless entity underlines our leadership in smart transformation and digital empowerment, with 100% of customs transactions now conducted through smart systems, achieving a remarkable 98% customer satisfaction rate.”

According SE Musabih,

“Dubai Customs remains dedicated to promoting and innovating digital customs services, with the aim of simplifying procedures and increasing customs transactions. Thanks to innovations like the Smart Workspace platform, customs declarations now take just 4 minutes, contributing to the success of Dubai’s non-oil foreign trade, which reached a value of AED 2.1 trillion ahead of the planned deadline.”

Digital initiatives

Dubai Customs remains committed to improving and innovating digital customs services to streamline procedures and increase customs transactions. The ‘Shipment Status Tracking’ project offers excellent customer experience by enabling quick actions based on shipment status, providing quick support to over 200,000 customers including importers, customs brokers, shipping companies and transport companies. This improves transparency in the goods clearance process and boosts 24/7 operations. The introduction of ‘Robotic Post-Audit Process Automation (PCA-RPA)’ is a distinctive initiative that aims to automate customs audit operations with AI-based technologies. Covers the audit of customs declarations completed annually by Dubai Customsparticularly for high-value goods, categories and customs conditions, the goal is to achieve 100% coverage in the next five years.

Development of customs policy

Dubai Customs follows adaptive customs policies to improve trade operations and strengthen Dubai’s global competitiveness in ease of business. These policies, which contributed to the increase in foreign direct investment, resulted in 13 customs notices and policies issued by Dubai Customs in 2023. The detailed information contained in these policies allows traders to carry out their customs transactions in a transparent manner, ensuring a clear and hassle-free trade process. These policies cover explanations of the latest digitally accessible services, updates on classification of goods and procedures related to economic partnership agreements.

Focus on customer satisfaction

Customer satisfaction is one of the main strategic priorities for Dubai Customs, with a notable rate of 95.4% according to the 2023 Government of Dubai Customer Happiness Index survey. Dubai Customs has introduced unique initiatives to engage with customers that serve as crucial channels for business improvement, discussion of proposals and overcoming challenges. These initiatives serve as a strong communication link between the government and the private sectors, working towards the sustainable economic development of Dubai.

He ‘Dubai Customs Advisory Council’ represents the first customs council of its kind in the world, facilitating direct communication with clients through quarterly meetings to discuss updates to customs operations. He ‘Ertibat’ The initiative also acts as a transparent platform to foster relationships with foreign companies, business sectors and diplomatic entities. Supports the level of customs services and facilities provided to traders and investors, which involves regular meetings with diplomatic entities of friendly nations and Dubai’s trading partners.

News source: Dubai Press Office