Dubai, UAE— Owing to the signing of comprehensive economic partnership agreements that the UAE has inked with four countries so far, the country has recorded a robust 17 percent jump in foreign trade, touching $607 billion in 2022 compared to the previous year.
Dubai Customs in this regard is actively keeping up with the comprehensive economic partnership agreements between the UAE and several major countries in global and regional trade markets.
Up to 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 quality and quantity.
This development significantly bolsters the UAE’s foreign trade, which recorded an impressive 17 percent growth, reaching $607 billion in 2022 compared to the previous year.
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, general provisions related to goods and products trade, and rules of origin. Specialized customs centers and departments are entrusted with enforcing these policies, ensuring adherence to the terms and provisions of the agreements.
Dubai Customs is actively 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 mission is to safeguard the community and promote sustainable economic growth by upholding a solid dedication to facilitation, innovation, and compliance.
The government department plays a pivotal role in contributing to Dubai’s economic agenda D33, by striving to double the overall value of Dubai’s foreign trade to a remarkable $7 trillion for goods and services.
Additionally, it seeks to expand the global trade network by adding 400 new cities. To ensure these ambitious goals are met, the department is diligently implementing its strategic plan for 2021-2026.
This plan focuses on continuously enhancing commercial and customs services, fostering economic prosperity, and protecting the community while consistently satisfying the needs of traders and investors, further attracting trade and investment to Dubai and the UAE as a whole.