India remains Dubai top most trading partner

Dubai: India remains at the top of Dubai`s most important trading partners with 19 per cent of the overall Dubai foreign trade amounting to 206 billion dirhams (about Rs 2.88 lakh crore) in 2011.

India headed the list of Dubai`s importing, exporting and re-exporting countries, an official said. The volume of Dubai imports from India reaching 102 billion dirhams, whereas Dubai exports to India amounting to 36 billion dirhams and re-exports reaching 69 billion dirhams, he added.

China came second with imports amounting 100 billion dirhams followed by the US, Japan and Germany with imports touching 54 billion dirhams, 28 billion dirhams and 26 billion dirhams, respectively.

Dubai foreign trade has achieved a record growth reaching over Rs 15.5 trillion (1.1 trillion dirhams) in 2011 for the first time in history registering an increase of 22 per cent compared to the 902 billion dirhams in 2010, said Director General of Dubai Customs Ahmed Butti Ahmed. He said there are a number of factors that contributed in achieving this growth, most importantly the high competitiveness in local market, the openness to markets world-wide and the growth in purchasing power.

Besides, he said, the distinctive higher quality of national products and the ascending level of services offered to importers, played a significant role in increasing the volume of exports and finding other new markets.