Dubai Trade achieves cost savings of Dh148 billion for the country in five years

posted on 01/05/2012: 695 views

The time-saving efficiency of e-services developed by Dubai Trade FZE, the leading trade facilitator under Dubai World, is leading to billions of dollars in annual savings for the public sector and numerous benefits for traders and the economy as a whole, according to a recent, independent case study carried out by the Emirates Competitiveness Council (ECC).

The study says the reduction in the number of days required to import or export goods via Dubai ports from 12 days to seven days has potentially led to total savings of Dh148 billion (more than US$40 billion) over five years ending 2011, which accounts for about 17 percent of the UAE's 2009 GDP. The benefits will further multiply this year after Dubai Trade reduced the processing time to only seven days through its electronic services.

The ECC study follows a recent 2012 World Bank "Doing Business" report that shows the UAE today has raised its global ranking to fifth in trading across borders', and is now ahead of Organisation of Economic and Cooperation Development (OECD) countries by a wide margin.

Dubai Trade has created a competitive advantage to both the public and private sectors by leveraging UAE's location advantage; having a strong customer-centric business strategy in place; and fostering innovative public and private sector synergies, the study says.

The report's 2012 edition indicates that the UAE is now ahead of the Organisation of Economic and Cooperation Development (OECD) countries by a wide margin. In the UAE, it takes only seven days to export a container at a cost of US$630 and seven days to import at a cost of US$635, the report says, while in high-income OECD countries it takes 10 days to export and 11 days to import, with the cost per container exceeding US$1,000 for import or export.

The Emirates Competitiveness Council case study, titled Dubai Trade - Building Competitive Advantage through Collaboration, is part of studies issued by the ECC called Policy in Action Series. – Emirates News Agency, WAM

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