Trade with GCC rises by 10%

DUBAI — Dubai trade exchange with the GCC countries recorded 10 per cent growth in the first half of the year, amounting to Dh11 billion compared to Dh10 billion over the same period last year.

Ahmed Butti, Executive Chairman of Ports, Customs and Free Zone Corporation, said the re-exports with the gulf countries amounted to Dh4.8 billion while the exports and imports stood firm at Dh2.3 billion and Dh3.7 billion, respectively.

He said the rise is basically due to the economic integration with the six countries. “Such cooperation was demonstrated in the establishment of the Free Trade Zone in 1983, followed by the unification of customs in 2003, and the founding of the GCC Market in 2008.”

“The growing trade activity with the gulf countries is in line with the aspirations of GCC leaders who give priority to economic integration,” he said.

Saudi Arabia topped the list of trade exchange between Dubai and the GCC with 36 per ent with a value of Dh4 billion this year. “Kuwait came second with Dh2.1 billion, then Oman with Dh2 billion, Qatar with Dh1.6 billion and Bahrain with Dh1.2 billion.”

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