By Staff writer
Total value of members’ exports and re-exports amounted to $74.3bn last year, with Saudi the biggest customer
Dubai Chamber of Commerce and Industry saw its network of members grow by 9 percent, or 16,800 companies in 2016, bringing the organisation’s total membership to 201,000 by the end of the year.
The increase strengthens the Chamber’s position as one of the largest membership-based chambers of commerce in the world, it said in a statement.
It said the total value of members’ exports and re-exports amounted to AED273 billion last year, with Saudi Arabia the top destination for members’ exports and re-exports during the same period.
Dubai Chamber said it participated in 78 events across 50 cities and hosted 681 delegations from 81 countries last year, with more than 1,500 meetings held by the Chamber with 1,525 delegates.
The figures come as Dubai’s non-oil foreign trade remained steady in 2016, with key sectors continuing to witness robust activity.
The Chamber added that Expo 2020 served as a catalyst for growth and expansion as infrastructure projects associated with the mega event began to take shape during 2016.
Hamad Buamim, president and CEO, Dubai Chamber, said: “2016 was an important year for Dubai as a number of new strategies were launched to facilitate the emirate’s transition to a post-oil economy and a global hub for knowledge and innovation.
"We saw a number of mega projects surface, such as Dubai’s next tallest tower and Dubai Harbour, which is set to become the Middle East’s largest marina. These major initiatives will only increase foreign investors’ interest in Dubai, and help boost the emirate’s profile globally,” he said.
He added that Chamber will soon launch its new strategy aligned with the Dubai Plan 2021, which would place a stronger emphasis on growing its global network, boosting public-private sector collaboration, developing the local entrepreneurial ecosystem, and fostering a culture of innovation in various sectors of the economy.