Innovative customs strategies propel UAE’s foreign trade growth
Dubai Customs is actively keeping up with the comprehensive economic partnership agreements between the United Arab Emirates and several major countries in global and regional trade markets.
Until now, the UAE has successfully forged comprehensive economic partnership agreements with four nations: India, Israel, Indonesia, and Turkey. As these agreements take effect, a new phase of trade exchange commences, promising a substantial boost in both quality and quantity, a press communique stated.
This development significantly bolsters the UAE’s foreign trade, which recorded an impressive 17% growth, reaching 2.233 trillion dirhams in 2022 compared to the previous year.
Supporting trade exchanges
Dubai Customs has implemented customs policies to support trade exchanges with partner countries, as part of comprehensive economic partnership agreements. These policies define the scope, obligations, preferential treatment, and general provisions related to goods and products trade, as well as rules of origin. Specialized customs centers and departments are entrusted with enforcing these policies, ensuring adherence to the terms and provisions of the agreements, the press note continued.
Dubai Customs is actively engaged in providing a wide range of commercial and customs services to traders and investors from countries that have established comprehensive economic partnership agreements with the UAE.
Dubai Customs is deeply committed to its vision of becoming a world-leading customs administration that supports legitimate trade. Its essential mission is to safeguard the community and promote sustainable economic growth by upholding a strong dedication to facilitation, innovation, and compliance, the press statement concluded.
