Dubai Customs cleared 14 million customs transactions during the first six months of this year, a 10 percent surge from the 12.7 million transactions registered in the same period last year.
The UAE economy is poised to experience further growth and recovery over the second half of 2023, according to forecasts by international banks and organisations, like the World Bank that predicts the UAE's non-oil economy to grow by 4.8 percent this year.
Dubai Customs revealed that business registration service transactions went up 7 percent, recording 143,000 service requests. Customs declarations stood at 12.3 million transactions, accounting for 88 percent of the total number of customs transactions. The strong performance is a clear indication of the business sector’s mounting recovery and how Dubai has reinforced its stature as a leading global hub for trade, finance and logistics.
Commenting on the solid H1 performance in customs service transactions, Ahmed Mahboob Musabih, Director-General of Dubai Customs and CEO of Ports, Customs and Free Zone Corporation, said,
“Trade is among the key sectors that have led the growth of the local economy during last year and this year.
The Comprehensive Economic Partnership Agreements (CEPAs) the UAE is concluding with various countries of the world give a great impetus to trade exchanges and increase the value of non-oil foreign trade thanks to the top-notch facilities and benefits they bring to traders and businesses, strengthening the UAE’s position as a prime global trading hub.
Stepping up its efforts in the fight against counterfeits to ensure protection of businesses’ intellectual property (IP) interests, Dubai Customs handled 194 cases of IP disputes during the first half of 2023, involving 10.7 million counterfeit items with a total value of AED 53.277 million. The government department also continued to organise recycling operations for counterfeit and IP-infringing goods, which saw the recycling of 176,000 items belonging to 65 global trademarks.
Dubai Customs also made 1,059 seizures and filed 908 customs cases, striving to play its vital role in securing and supporting the national economy by contributing effectively to an attractive investment environment and enhancing the country's position as a leading global business and trade hub.
News Source: Emirates News Agency