Dubai – “ASWAQ”
Dubai Chamber of Commerce and Industry (DCCI) has registered more than 8,000 new companies in the first half of 2016 thus bringing its total membership to 193,000, according to a report on its half-year activities. This represents a 4.3 percent growth, according to state news agency WAM.
In the same period, the chamber registered a 2 percent growth in issuing certificates of origin (COOs) totaling more than 478,000, compared with 469,000 issued in the corresponding period of 2015.
Total exports and re-exports of chamber members reached about US$37.6 billion (AED138 billion), with Saudi Arabia ranking as the top destination for members’ exports and re-exports in the region, valued at about US$12 billion (AED44 billion).
These figures show that Dubai’s economy is resilient against the adversities of global economic challenges, according to Hamad Buamim, the chamber’s president and CEO. He added, “The emirate’s capability in reducing the effects of the global economic slowdown comes from its competence based on the economic diversity and the UAE’s strategy to move away from oil resources, which actually complements the vision of the country’s wise leadership in creating a competitive economic order.”
The chamber is also reported to have issued 125 ATA Carnets for the temporary import of goods during the same period. While the Dubai Association Centre (DAC) granted 23 licences for the establishment of global professional associations in the emirate.
DAC was established in 2014 under an agreement between the DCCI, Dubai Business Events (part of the Dubai Corporation for Tourism and Commerce Marketing), and the Dubai World Trade Centre. It provides a formal environment for international non-profit, scientific and professional associations to conduct business.