By Sarah Townsend
Saudi Arabia was members' principle trading partner in first six months of 2017
The Dubai Chamber of Commerce and Industry grew its membership base by 10.9 percent year on year in the first half of 2017, adding 8,900 new companies, it said on Sunday.
Dubai Chamber’s total membership reached 210,000 companies by the middle of the year, making it one of the world’s largest membership-based chambers of commerce, it claimed in its latest progress report.
Exports and re-exports grew by 6.1 percent across its members during the first half of 2017 to AED146.7 billion ($39.9 billion), compared to AED138.3 billion ($37.6 billion) during the same period last year.
Saudi Arabia was the top export and re-export market for Dubai Chamber members, accounting for AED51.9 billion ($14.1 billion).
This figure reflects an 18 percent growth rate from AED44 billion ($11.9 billion) over the same period last year.
Hamad Buamim, president and CEO of Dubai Chamber, said: “Trade relations between Dubai and Saudi Arabia continue to flourish and develop, and this is clearly reflected in the 18 percent growth in member exports and re-exports to the kingdom in the first half of the year.”
Meanwhile, Dubai Chamber said it had issued 465,680 business certificates during the six-month period – a rate of around 2,500 per day – and received 350 delegations from 34 countries, a 14 percent increase compared to the same period last year.
Dubai Chamber now has eight international representative offices, following the opening of its latest in the Brazilian city of Sao Paulo in April.