Dubai’s trade sector is surging back to health as it captures rising global trade flows and consolidates its position as the primary re-export hub for Iran, despite US sanctions seeking to isolate the Islamic republic.
Illustrating the entrepôt port city’s core strengths, non-oil trade in 2010 rose 19 per cent to reach Dh905bn ($246bn), posting a strong recovery after a slowdown in growth in 2009 as the financial crisis hit. The recovery brings trade almost back to its peak level in 2008.
“Trade in Dubai hasn’t been affected, the moving of goods has not been affected,” says Ahmed Butti Ahmed, director-general of Dubai Customs.
Surging back means Dubai economy is stabilizing again which is not an ordinary thing but a great news for all Islamic world.Dubai investors remain safe because of trade. Strong trade recovery lifts Dubai Financial condition. Dubai's exports and re-exports director said that Dubai economy is trying to captures rising global trade.
ReplyDeleteYes I agree with Dubai property. They are trying to establish their economy attracting foreigners to come their to live. In a report I was reading that every year thousand of European and American move to UAE to live buying property, and traders prefer Dubai for trade so that they can get any edge to settle there.
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