Dubai Customs has taken a significant step towards sustainable economic growth by introducing a series of comprehensive customs policies. The strategy springs from the UAE’s economic partnership agreements with global and regional trade powerhouses – India, Israel, Indonesia, and Turkey.
These agreements are expected to markedly uplift the quality and quantity of trade exchange, initiating a key growth phase for the UAE’s foreign trade. Notably, the sector celebrated a 17% surge last year, culminating in a trade volume of AED2.233 trillion.
The new customs policies are designed to refine and amplify trade exchanges with the UAE’s partnership countries. They set forth definite guidelines covering the spectrum of scope, obligations, preferential treatment, and general provisions for goods and product trade, alongside rules of origin. The responsibility of enforcing these policies is vested in specialized customs centers and departments, tasked with the effective adherence to the agreements’ terms and provisions.
Dubai Customs has set its sights on global leadership in customs administration and is staunchly committed to promoting legitimate trade. The department provides an array of commercial and customs services to traders and investors from the partnership countries, mirroring its mission to protect the community and fuel economic growth.
Dubai Customs’ initiative perfectly complements Dubai’s economic agenda D33, which sets out to double Dubai’s foreign trade value to a staggering AED25.6 trillion. Additionally, the plan envisages expanding the global trade network to incorporate another 400 cities. To bring these ambitious objectives to fruition, Dubai Customs is diligently working on its strategic plan for the years 2021-2026.
The strategic plan emphasizes ongoing enhancements in commercial and customs services, economic prosperity, and community protection. These efforts aim to meet traders’ and investors’ needs effectively, thereby drawing more trade and investment to Dubai and the UAE, and further establishing the nation’s reputation as a global nexus for commerce and innovation.
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