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Dubai will play a pivotal role in the development and progress of the e-commerce sector in the coming years, with the United Arab Emirates (UAE) set to become a key hub for trade, especially for markets in Africa, the Gulf and South America, the UAE said. Director General of Dubai Customs, H.E. Ahmed Mahboob Musabih, at the second meeting of the Dubai Customs Advisory Council 2020.
According to release, Musabih chaired this Monday (13.07.2020) the online meeting where he stated that Dubai has recently been ranked as the fastest growing e-commerce market in the Middle East and North Africa. This comes down, he added, to a number of factors including continued digital development and adoption, the growing number of customers and Dubai’s world-class infrastructure.
“Customs extends its support to help Dubai become a global e-commerce hub. With this in mind, Dubai Customs has officially launched its e-commerce platform cross border blockchain-based to encourage e-commerce companies to set up their businesses in Dubai,” he added.
The meeting was attended by CEOs, heads of departments and representatives of business groups in Dubai.
The Director General of Dubai Customs confirmed that the Customs works hand in hand with the private sector and this has resulted in an increasing number of customs transactions in what has been a testing time.
Dubai Customs has completed over 6 million customs transactions during the first 5 months in 2020, of which 99.2% were completed online.
“I want you to be assured that Dubai Customs will work its best to support all business groups in Dubai, following the vision of Dubai and the UAE, to become the happiest place to work, live and do business. We are ranked ninth globally, according to IMD’s competitiveness report, which puts us ahead of countries such as the US, Germany and the UK,” Musabih said.
The meeting discussed issues including the role of the stimulus package in supporting businesses and the impacts of the pandemic. Attendees also debated the challenges and opportunities in the post-Covid-19 era, especially e-commerce which is gaining more presence across the world.
Musabih applauded the Food Safety Panel of Dubai as part of the wise vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. It was launched by Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Supreme Committee for Crisis and Disaster Management, and supports the efforts of the Dubai Food Security Committee in line with the UAE’s strategic direction to ensure food security across the country.
"We thank the Government of Dubai and Dubai Customs for their unlimited support, and we appreciate the imitation of the government's stimulus package which included a 1% refund of customs duties imposed on imported products sold locally in the UAE," he said. Lakhi Ramchandani, Retail Business Group“Goods imported between March 5, 2020, and June 30, 2020, subject to customs duties at a rate of 5% were eligible for the refund. This has stimulated business and driven companies forward, and we look forward to an extension of this timeline.”
Khalid Al Tayer, Member of the Retail Sector Executive Committee, stressed the importance of e-commerce, which he said will account for 20-40% of trade in the coming years. He said that Dubai Customs' e-commerce platform will contribute to a more important role for this sector.
Madhu Madathal of the Dubai Shipping Agents Association spoke about the challenges faced by the sector during the pandemic and said the recent period has demonstrated the vitality in global trade.
Tawhid Abdulla, Chairman of Dubai Gold and Jewellery Group, noted that 80%-85% of gold and jewellery trading activity in Dubai is based on re-export, which is done solely through airports. “This shows how big the challenge was for the gold sector in Dubai. There are 1.184 workers and traders in the precious metals, gems, jewellery and diamonds industry, 6.992 investors and more than 19.000 people employed in the manufacturing sector,” he noted.
Prim Kumar, Corporate Advisor, Indian Business and Professional Council-Food Sector He said there were adequate quantities of food during the pandemic, although Covid-19 restrictions reduced sales.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
