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DCCI members’ exports, re-exports surge
posted on 19/09/2012: 782 views
The economic success of Dubai is attributed to the strong partnership between the public and private sectors.
Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry (DCCI) stated that the two-way communication stimulates an exchange of ideas on key issues and is the most important basis of the partnership, which goes a long way in supporting the economic development of the emirate.
Buamim was speaking at the 3rd Talk Business at Breakfast networking meeting of the year organised by Dubai Chamber at its head office on Tuesday.
The Director General of Dubai Chamber took the opportunity to highlight the growth witnessed by the trade sector as he said that Dubai Chamber members' exports and re-exports during the month of August amounted to Dhs20.4 billion as 4,829 traders exported goods to 173 markets around the world.
Buamim further said that the upward trend clearly shows the leading role played by the trade sector and the return of the investors' confidence in the emirate's vibrant economy stressing that in July, the Dubai International Airport received the highest monthly passenger numbers in its history.
The event brought representatives of the private sector face to face with Eng. Mohammed Al Shihhi, Undersecretary, UAE Ministry of Economy.
The networking meeting focused on Consumer Protection Law, the Ministry of Economy's role in protecting consumer rights and intellectual property, controlling of food prices and seeking fair competition among retailers.
He also said that the emirate had high hotel occupancy rates and tourist arrivals while the logistics sector was growing fast and development work on infrastructural projects continued unabated.
Highlighting the positive indicators posed by the emirate's economy, Buamim informed the gathering that Dubai Chamber was constantly working to improve the business environment of Dubai, while strengthening its position as a safe haven for investments.
He called upon the business leaders to benefit from the positive investment climate currently prevailing in the country.
The Director General of Dubai Chamber also lauded the efforts of the Ministry of Economy in supporting the business environment by enacting and updating legislations that regulate and encourage economic activities, developing national industries, providing services and encouraging investments while creating a knowledge-based economy that ensures balanced and sustainable growth in the UAE.
On his part, Eng. Mohammed Al Shihhi, stressed upon the contribution of the retail sector to the UAE's economic growth in light of the country having established its credentials as a world-class shopping destination while adhering to the highest quality standards in consumer protection and facilitating smooth interaction between businesses, retailers and consumers.
The Undersecretary of the Ministry of Economy informed about the crucial role played by his Ministry's Consumer Protection Department in protecting the consumers from exploitation, fraud and monopoly practices.
He also emphasised on the Ministry's commitment to enhance awareness about best practices by educating consumers about their rights and duties, ensuring stabilisation of prices and fair competition, and preventing monopoly tendencies by liaising with relevant departments and authorities in the UAE.
Al Shihhi stated that his Ministry does not intervene in certain areas of pricing such as oil and gas, banking and construction work, prices of which are determined by other concerned ministries and departments.
Al Shhihi informed that the Ministry has received 5,002 complaints in 2011, which went up considerably because they introduced a Call Centre in October and resultantly they received about 9,534 complaints from all the emirates until June.
He praised the important role played by Dubai Chamber in supporting business growth and the promotion of Dubai as an international hub for business and finance and its contribution to putting Dubai on the world economic map.
Established in 1965, the Dubai Chamber of Commerce and Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub. – The Gulf Today
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