Trade picks up in Dubai despite the pandemic: Bin Sulayam
Dubai has managed to contain the economic slowdown resulted from the spread of COVID-19 and its negative effects on global trade and supply chain activities, according to HE Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation.
The city has said to have sustained a momentum in its external trade, with customs transactions growing 23% and customs declarations growing 30% compared to 2019.
Bin Sulayam recently visited Deira Wharfage, Ducamz and the Dry Port customs centres. During his visit he highlighted the role Dubai Creek plays in developing maritime trade, especially with the brilliant facilities and innovative services Dubai offers to merchants and vessel owners. These include a smart platform that regulates dhow operations in Dubai Creek enabling merchants to book for their shipments through a single easy to use application.
Commenting on the stimulus packages announced by the authorities to recover from the economic slump the pandemic has created, Bin Sulayalem said: “Dubai Government has put strong plans and programmes to ensure quick recovery from the effects of the pandemic. The generous stimulus package launched has enhanced liquidity, reduced the impact of the global economic situation, and ensured continuous flow of local and foreign investments.”
He added: “We are optimistic and confident that this year Dubai’s economy will grow, and trade activity is already showing good signs of recovery with all businesses now returning to their normal activities thanks to a resilient economy and very advanced technological infrastructures.
“We, in the government sector, work in tandem with the private sector to overcome the challenge posed by the pandemic and ensure businesses go back to normal. The Ports, Customs and Free Zone Corporation didn’t stop any activities during the crisis, and we look forward to boosting our activities to cover the transportation of the vaccine.”
The Land Customs Centres Management showcased their efforts in developing customs services and facilities delivered to clients at Ducamz customs centre (vehicle import and re-export free zone) to ensure speedy customs transactions and streamlined legitimate trade.
During the visit, Dubai Customs launched its first initiative in 2021, which entitles Ducamz car dealers, registered at Dubai Customs, issue their vehicle certificates without the need to visit the centre for the same purpose. This makes the process easier and faster for dealers and clients.
In the last year, Ducamz and Dry Port Centres completed around 1.3m transactions (1.12m transactions by Dry Port Centre, and 161.4k transactions by Ducamz). The Dry Port Customs Centre completed 934,624 customs declarations and 30,157 inspection booking requests, whereas Ducamz completed 40,476 customs declarations and 6,914 inspection booking requests. Each centre made two seizures during the year.