PCFC discusses opportunities for trade and logistic with Dubai business groups
Dubai government-led policy initiatives and investments have improved growth prospects in trading partners, while preparation to host the Expo 2020 are providing the bedrock for increased investment in Dubai, says Sultan bin Sulayem, DP World group chairman & CEO and chairman of Ports, Customs and Free Zone Corporation.
He made the comments in his opening speech at the 3rd Customs Consultative Council (DCCC) meeting 2019 which Dubai Customs organizes quarterly.
The DCCC meeting was attended by Ahmed Mahboob Musabih, director general of Dubai Customs, Juma Al Ghaith, executive director of Customs Development Division, Farid Hassan Al Marzouqi, executive director, Human Resources, Finance and Administration Division, and Abdullah Mohammed Al Khaja, executive director of Customer Management Division, along with a number of representatives of business groups and members of the Council.
At the DCCC meeting 2019 representatives of business groups in Dubai exchanged knowledge and experiences in how to sustain the supply chain and develop logistics services and enhance trade between Dubai and the world.
“This reflects a robust economy despite the global economic downturn. Globally, there is no financial crisis like that of 2008 but there is slowness in certain aspects of the economy,” said Bin Sultan. “The economy of Dubai is moving forward steadily thanks to the advanced infrastructure, strategic location and the facilities and incentives it provides to the private sector.”
“It is easy to predict a crisis, but this is baseless; our economy is growing steadily and Dubai is attracting more investments into the country, and we, at DP World, are expanding our network globally,” he added. “The global market is more open with more connections and accessibility, which means more competitiveness in trade and investment.”
Ahmed Mahboob Musabih, director general of Dubai Customs added: “Dubai’s external trade grew 5% in the first half of 2019 to reach AED 676 billion compared to AED 644 billion in the same period in 2018.
“This is a reflection of a healthy, strong economy. None of the region's petrostates have moved further from their oilfield roots than Dubai, which has been diversifying its economy since the 1970s. The result is a thriving gateway to globalisation with a superior economic outlook.”