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UAE food re-exports up by 16.5% in 2010
posted on 14/11/2011: 83 views
The UAE's food re-exports rose by more than 16.5% in the year 2010, according to the latest trade figures from the Ministry of Foreign Trade released ahead of SIAL Middle East 2011.
The total value of food re-exports from the UAE reached Dh8.1billion in 2010. MoFT's report shows that UAE's re-exported food goods had presence in 140 markets around the world. Islamic Republic of Iran, Afghanistan, Somalia, India, Saudi Arabia, Qatar, Oman and Kuwait dominate 73.2% of the UAE's total food re-export in the same year with the value of Dh5.9billion.
The top food commodities, constituting 70.8% share of the food re-exports, were: cereals, edible fruits and nuts; peel of citrus fruit or melons; miscellaneous edible preparations; sugars and sugar confectionary; edible vegetable and certain roots and tubers.
Juma Al Kait, Assistant Undersecretary - Foreign Trade Affairs, Ministry of Foreign Trade, UAE said, "It is extremely positive to see year-on-year growth in the re-export figures. Non-oil foreign trade plays a significant role in the overall development of the UAE economy and these results complement our diversification strategies that aim at reducing dependence on oil revenue." "We are committed to contribute the policies, procedures and facilities upheld by the country; and strengthen business and trade partnerships with the world to raise bilateral trade to even greater levels." Re-exports accounts for 25 per cent of the UAE's total foreign trade and maintains its position as the second largest contributor after exports throughout the past ten years to reach Dh185.9 billion in 2010 up by Dh38.2 billion from 2009. However, in specific, food re-exports have constituted 4.3% of the country's overall re-exports in 2010.
SIAL Middle East helps us assess the expansion possibilities of the food industry and develops trade potential across the region, giving access to both existing and new markets.
Mohamed Jalal Al Reyaysa, ADFCA's Official Spokesperson and the Chairman of the Higher Organising Committee for SIAL Middle East, said the rise in food re-exports from the UAE was reflective of the increasingly dynamic nature of the country's food industry. "The significance of internationally recognised events such as SIAL Middle East needs to be understood in the context of this trade dynamics. The advanced food safety infrastructure that ADFCA and other food monitoring authorities in the country put in place is meant to complement the spurt in trade. It creates and sustains an environment for dynamic trade that meets international standards and specifications in every area of the food industry," he pointed out. - Emirates News Agency, WAM
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