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Trade

Dubai-Israeli trade exchange scores high records

Dubai-Israeli trade volume during the past five months reached one billion dirhams, Dubai Customs said in a statement.
DP World

Dubai-Israeli trade exchange volume during the past five months reached one billion dirhams, Dubai Customs said in a statement.

Dubai Customs said imports value amounted to 325 million dirhams. Exports were at 607 million dirhams and 98.7 million dirhams of transit goods.

Last year, the UAE and Israel announced the normalization of relations and opening of trade exchange.

Commercial height

Sultan bin Sulayem, DP World’s group chairman and CEO and chairman of Dubai’s Ports, Customs and Free Zone Corporation said, “The historic peace treaty between the UAE and Israel leads to a major transformation in the economic, commercial and investment fields.”

He expected trade between the two countries to hit AED15 billion, which will create more than 15,000 job opportunities.

Bin Sulayem said commercial relations with Israel will open new opportunities for trade movement in the Middle East.

He said the Dubai-Israeli positive trade volume will contribute effectively to stimulating transport and trade by opening new markets.

It will also encourage international companies to raise production levels and open new investment resources, he added.

The most prominent products

For his part, Ahmed Mahboob Musabih, Director General of Dubai Customs, said that the most prominent products and commercial goods that dominated the volume of imports are: vegetables and fruits, diamonds, flat screens, technological devices, medical and mechanical tools.

Israel has shown an increasing interest in shipping operations at Jebel Ali port and its ability to handle and reach markets such as India, Pakistan, Bangladesh, Sri Lanka, and its neighboring countries.

These markets population exceeds two billion. The statement also said the port is able to access new international markets.

It should be noted that the Israeli economy witnessed a remarkable recovery with economic openness and normalization with some Arab countries.

Related:

UAE Official Talks About Global Trade Future

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