DP World Dominates UAE Region in New Results
DP World has reaffirmed its position as the Middle East’s top trade and logistics hub by generating 29.4 million metric tonnes (mt) of trade, valued at US$83.1 billion in 2017.
The figures contribute a vast 23% to the total value of trade in Dubai.
DP World said in a statement that its total traded volume of 29.4 million mt for2017 is the highest level since 2013.
Sultan Ahmed Bin Sulayem, CEO, DP World, said: “This is a proud moment for Jafza [Jebel Ali Free Trade Zone] as our free zone continues to lead Dubai’s trade sector maintaining its positions as a regional and global business and logistics hub of choice.
“Last year’s growth was achieved against the headwinds of an economic slow down across the world.
“The sustained growth of Jafza since 2013 across diverse sectors demonstrates its ability to leverage key market dynamics to create growth opportunities for our customers.
“Most critically, it shows that the Dubai and the UAE’s economy continues to be healthy and flexible, capable of successfully weathering and adapting to the changing patterns of international trade and global economics.
“The growth in Jafza’s trade volume and value reflects the wisdom of the government’s economic diversification goals, which we have integrated into our business strategy. Diversification creates investment opportunities, while driving competition and innovation.”
Read more: Dubai Government Reveals UAE Blockchain Strategy
Over 77% of Jafza’s total trade volume in 2017 was generated by three sectors:oil and gas; foodstuff, livestock and agricultural products; and metal, steel and construction material.
Bin Sulayem concluded: “As an integral member of the DP World group, Jafza is committed to supporting Dubai and the UAE’s on-going economic diversification drive by pioneering innovative processes, customer-focused services, and policies that add value for stakeholders, and fuel the growth of companies operating here.”
Jafza’s top markets by region were the Middle East at 40%, Asia at 31% and Europe at 13%.
China remains Jafza’s largest trade partner as Chinese firms continue to use the free zone as their regional base for exports and re-exports of goods.
Saudi Arabia is the second largest trade partner, followed by theUS, Vietnam and India.