Dubai-India trade reaches AED77b in H1 2012
DUBAI: India ranked first among Dubai’s major trade partners during the first six months of 2012, with the value of trade exchange between the two emirate and the subcontinent amounting to AED77 billion, accounting for 13% of the total value of Dubai’s foreign trade which stood at AED602 billion during the same period, according to Executive Chairman of Ports, Customs and Free Zone and Director General of Dubai Customs Ahmed Butti Ahmed.
The total value of Dubai’s imports from India, which included primarily diamonds, jewellery, electronic devices and mineral oil, reached AED35 billion during the first six months of 2012, while the value of its exports to India – mainly gold, diamonds, jewellery and copper wires – stood at AED19 billion during the same period. AED22 billion was the value of Dubai’s re-exports to India (mainly diamonds, jewellery and silver), the official said in remarks as he met the Indian Economic Consul to Dubai Dr. T. Tiju.
Ahmed stressed that Dubai’s trade relationship with India has been witnessing a considerable growth mainly due to the distinctive ties between the governments and people of the two countries and the joint economic agreements.