Trade between Dubai and Israel reaches Dh1 billion in five months. Mutual trade expected to grow to Dh15 billion in the next few years, said a senior Dubai official.
Dubai , Dubai
31 January 2021, 12:00 AM
06 February 2021, 12:00 AM
Bilateral trade between Dubai and Israel reached Dh1 billion in the past five months and is expected to reach Dh15 billion in the next few years.
Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Dubai’s Ports, Customs and Free Zone Corporation said, “The mutual trade expected to grow to Dh15 billion in the next few years, generating more than 15,000 jobs.”
According to Dubai Customs statistics, the emirate’s trade with Israel in the last five months (Sep 2020 -Jan 2021) reached a value of Dh1 billion and a volume of 6.217k tonnes. Of this, imports were valued at Dh325 million (718 tonnes), exports at Dh607million (5.4k tonnes), and transit trade at Dh98.7million (52.4 tonnes).
In the light of this exceptional growth, Bin Sulayem believes opening new markets and stimulating mutual trade between Dubai and Israel will encourage companies to increase production, leading to greater economic growth and more job creation.
Ahmed Mahboob Musabih, Director General of Dubai Customs said, “Expo 2020 is a golden opportunity for Israel to introduce its services, products and opportunities to the world. We also look forward to Israel’s participation in the 5th WCO AEO Conference, to be organised by Dubai Customs in coordination with the World Customs Organization and the Federal Customs Authority. The event, expected to attract more than 2,000 customs, trade, AI, and e-commerce experts, will highlight the UAE’s status as a leading player in global trade.”