Saudi Trade Represents Half of Dubai's Trade with GCC

Saudi Arabia has retained its position as the top trading partner of Dubai among the GCC states, the Arab countries and the Middle East, and has been the fourth top trading partner of Dubai on the global level throughout the first nine months of 2015.

Dubai's non-oil trade with the KSA was worth AED 44.65 billion, with a 12% increase from AED 40 billion scored during the same period of 2014. The significant growth came as part of the excellent ties that bind the leaderships and peoples of the UAE and the KSA.

According to the latest statistics released by Dubai Customs, DC, the total value of Dubai’s trade with the GCC states recorded AED 96.19 billion in the first nine months of 2015, with an 8% rise compared to the same period of 2014.

The KSA’s share of Dubai-GCC trade was 46.4%, followed by Oman, with a value of AED 18 billion, representing 18.7%. Kuwait came third with a value of AED 14.87 billion, representing 15.4%, then Qatar with a value of AED 11.91 billion, representing 12.3%, and finally Bahrain with a value of AED 6.75 billion, representing 7%.

"The UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has strong, well-established relations in all fields with Saudi Arabia, under the leadership of their brother, the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud," Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation in Dubai said.

He added that such relations were "steeped in history and reinforced by ties of kinship and common destiny and are evolving every day in absolute harmony at all levels."

Bin Sulayem emphasised that the relationship between the UAE and the KSA offered a clear example of correlation that should be copied by the Arab Nation in order to develop its potentials and strengthen its structure.

"The positive bilateral relations between the UAE and the KSA, as brightly manifested in close and growing economic and commercial ties, are meant to continue, evolve, and reach wider horizons. Both countries are constantly seeking to build and support the concept of mutual interests and fruitful cooperation towards more cohesion and integration, in such a way that meets the aspirations of the their respective peoples."

Ahmed Mahboob Musabih, Director of Dubai Customs, said that the joint work within the framework of the GCC Customs Union, under the wise leadership of their Majesties and Highnesses the leaders of the GCC member states, had contributed effectively in the promotion of Dubai-GCC trade, due to the emirate's ability to meet the business requirements of the Gulf countries through providing them with distinguished, facilitated customs services, and the advanced services offered by Dubai’s ports and free zones.

Meanwhile, trade exchange between Dubai and the GCC reached AED 96.19 billion from January to September 2015.