Dubai companies keen to obtain ‘Verified Exporter’ recognition
Initiative aims to enhance manufacturing and export capabilities of Emirati companies
The ‘Verified Exporter’ programme launched by Dubai Industries & Exports (Dubai IE), the export promotion and industrial development agency of Dubai Economy, has seen 118 applications out of which 36 companies from 10 different sectors obtained the recognition.
Dubai Industries & Exports has actively been working to encourage and develop a diversified exporting base within the emirate through supporting the manufacturing sector to become globally competitive and build an international level of differentiation. The Verified Exporter programme, launched three years ago after extensive consultation from the industrial sector, seeks to support local manufacturing establishments progress through the stages of product concept to international expansion successfully.
The ’Verified Exporter’ programme adopts a multi-level approach in assisting manufacturers and exporters progressively advance. Manufacturers are categorized into several groups, starting with those that are not ready to export. The rationale is to provide bespoke and dedicated support to ensure that the country has a sustainable and innovative industrial sector. Further, the approach helps to groom and empower a set of exporters capable of penetrating diverse markets overseas with their locally manufactured products.
Mohammed Ali Al Kamali, deputy CEO of Dubai IE, said: “Capability development programmes have proved to be efficient in promoting diverse industries and sectors in Dubai in general. Our experience in promoting industrialisation and exports over the years has been no different. The ‘Verified Exporter’ was designed based on this experience and the need for a dedicated programme to develop emerging companies, especially small and medium businesses, into export units. Factories and businesses enrolled in the programme undergo long and continuous evaluation, which helps us determine their needs and we also focus on developing Emirati companies in particular.”
Al Kamali added: “The ‘Verified Exporter’ certificate also provides an updated profile of the exporter along with the details most relevant to importers in overseas markets, including the production lines and a summary of operations since there are factories and exporting companies that focus on certain markets only. The certificate will be a reference point for all such information on factories and local companies and their export readiness, and it will support local industry evolve in line with global trends, thus supporting our foreign trade and economic development.”
Mohamed Al Marzouki, senior manager of the Exporters Services Department in Dubai Industries & Exports, said: “From the of the applications we received over the last three years we have identified 61 per cent based on the various accreditation criteria for ‘Verified Exporter,’ categorising them based on the various levels of requirements and readiness for foreign markets. A third of the companies thus identified are Emirati-owned. Moreover, there is a strong presence from strategic sectors, such as food and beverage.”
Dubai IE was assigned recently to integrate industrialisation and export promotion with the foreign trade targets of the emirate, commercially and economically. It’s noteworthy that Dubai’s foreign trade during the first quarter of 2021 was 10 per cent higher than the same period of the 2020, which indicated a strong recovery from the pandemic phase. Exports in Q1 2021, which was worth Dh50.5 billion, also showed a 25 per cent increase over Q1 2020. At five million tonnes, the volume of exports out of Dubai was also 20 per cent higher compared to the same period of the previous year.
The central bank is expected to receive record $3.5 billion inflows... READ MORE
Employers are offering expanded opportunities for guided learning for ... READ MORE
The new appointment marks the group’s ongoing and agile... READ MORE
The company’s profitability was also bolstered by the Dh160.0... READ MORE
Randomly chosen lucky customers will have their shopping basket paid... READ MORE
Significant chunk of Americans continue to refuse to take even one... READ MORE
Employees can avail the leaves till the event ends on March 31, 2022 READ MORE
Almost half of the UK’s 8,000 fuel pumps run out of petrol as... READ MORE