x Abu Dhabi, UAEWednesday 26 July 2017

Developed economies 'hampering' Dubai's export dreams

Dubai is set to hit record levels of exports this year, says the boss of the emirate's Export Development Corporation. However Saed Al Awadi blames developed economies for hampering Dubai's ambition to become a leading global exporter .

Officials from Dubai EDC today cited the example of how meat producers in the UAE were undercut by cheap exports from other regions.  Stephen Lock / The National
Officials from Dubai EDC today cited the example of how meat producers in the UAE were undercut by cheap exports from other regions. Stephen Lock / The National

The UAE's ambition of becoming a leading global exporter is being hampered by developed economies dumping cheap goods in the country, said the chief executive of Dubai's Export Development Corporation (EDC).

Nonetheless, Dubai officials expect the emirate's exports to reach a record high of between Dh57 billion and Dh60bn this year.

"Our main objective is to place the UAE as one of the leading exporting countries in the world," said Saed Al Awadi, chief executive of Dubai EDC, speaking today at the second Exporters Forum in Dubai.

"Although this vision is still far fetched due to a major challenge posed by the dumping policy of some major industrial countries and with their long history in manufacturing that is hard to compete with, yet our government is willing and able to overcome such challenges."

Mr al Awadi's comments represent the latest raising of tensions in a simmering trade row between the GCC and other economies such as the EU about the level of support some exporters receive from their governments.

The spat has taken on greater seriousness as countries seek to use exports as a way of rekindling economic growth after the global recession.

Officials from Dubai EDC today cited the example of how meat producers in the UAE were undercut by cheap exports from other regions. Overseas producers were able to sell their meat more cheaply thanks to government subsidies, they said.

Other products have been caught up in the dispute over recent months. The EU began in October imposing protectionist tariffs on plastics imports from the UAE for five years after complaining that producers here received unfair government subsidies.

 

tarnold@thenational.ae