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Dubai-Caribbean non-oil trade hits $273 million in 2017
The Caribbean region is an extremely important market for the UAE, said Hamad Buamim.
dubai - Dominican Republic was the top destination for foreign direct investment in 2017
The trade volume was dominated by imports from the region which were valued at $183 million in 2017, while $90 million worth of exports contributed 33 per cent to Dubai's trade with the region.
The UAE-Caribbean Cooperation Forum, taking place on November 24 to 26, 2018, is co-organised by the UAE Ministry of Foreign Affairs and International Cooperation and Dubai Chamber of Commerce and Industry, in partnership with the UAE Ministry of Economy and the UAE Ministry of Culture and Knowledge Development.
The analysis revealed that Suriname was Dubai's top trading partner in the Caribbean in 2017, with bilateral non-oil trade valued at $113.8 million, accounting for 42 per cent of the emirate's trade with the region. Guyana was ranked second as the country's non-oil trade with Dubai amounted to $52.1 million, or 19 per cent of the emirate's trade with the region.
Dominican Republic and Trinidad & Tobago were the third and fourth largest trading partners to Dubai in the region, as the countries' claimed shares of 10 per cent and 9 per cent, respectively, followed by Belize (7 per cent) and Haiti (3 per cent).
"The Caribbean region is an extremely important market for the UAE, as it is home to more than 42 million people who can benefit from the goods and services Dubai exports and re-exports," said Hamad Buamim, Dubai Chamber's president and CEO.
- business@khaleejtimes.com
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