Paves the way for a US$ 10bn trade boost
Ahmed Mahboob Musabih, Director General, Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, together with HE Husin Bagis, Ambassador of Indonesia to the UAE, recently affirmed that the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Indonesia which is expected to enhance trade and investment relations between the two nations to more extensive levels.
The agreement aims to boost trade flows, encourage bilateral trade, and raise its overall value to US$ 10bn annually by reducing or eliminating customs duties on a diverse range of goods and services. This will open up new opportunities for exporters and companies from both sides.
This affirmation was made during a significant meeting hosted by Dubai Customs with a diplomatic and economic delegation from Indonesia, led by Ambassador Husin Bagis. The meeting was part of the ‘Ertibat’ initiative launched by Dubai Customs as a platform to boost its relations with foreign companies and business sectors.
This important meeting, attended by executives and department managers at Dubai Customs, addressed the department’s role in achieving the targeted objectives of the economic partnership agreements signed by the UAE.
Musabih pointed out that economic sectors in Dubai, including the commercial sector, contribute positively, with customs transactions in Dubai growing by 13% to 21.6mn transactions during the first nine months of the current year. There are expectations of continued growth driven by the strategic goals outlined in Dubai’s economic agenda.
Musabih emphasized that Dubai Customs continues its efforts to continuously develop trade and customs relations with Indonesia and work on enhancing growth in trade exchanges. Indonesia is considered one of the emerging markets in Asia, and therefore, there is a focus on providing the best customs services and facilities for Indonesian trade by leveraging the development of infrastructure in Dubai and the excellence of ports, airports, and free zones in the emirate in terms of services provided to traders and investors.
Growth of Indonesian trade
Ambassador Husin Bagis expressed his appreciation for the efforts of Dubai Customs and its role in supporting mutual trade growth between the UAE and the Republic of Indonesia. He confirmed the Indonesian Embassy’s eagerness to exchange visits and meetings with Dubai Customs to achieve the highest levels of coordination between the two parties in utilizing Dubai’s role as an international hub for global trade in supporting the growth of Indonesian trade.
The meeting included a presentation of Dubai Customs’ advanced programs and systems, as well as its customs initiatives aimed at enhancing business operations and protecting the economy from counterfeit goods.
The initiatives and programs implemented by the Intellectual Property Rights Protection Department in Dubai Customs and the advantages of the Authorized Economic Operator Programme were also highlighted, a press communique concluded.
