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Members of Dubai?s Chamber of Commerce and Industry recorded eight per cent growth in exports and re-export totalling Dh290 billion in 2013, according to the Chamber. Exports and re-exports were Dh268 billion in 2012.
Hamad Bu Amim, President and CEO of Dubai Chamber, also added that around 13,000 new companies joined the Chamber in 2013, the highest number recorded by the Chamber in the last four years.
He attributed this growth in trade to the strategic relations that Dubai has with world markets, which helped increase two-way trade and investments. The economic recovery in the Arab Spring countries has been an added value to boost overall trade performance across the emirate, Bu Amim said.
Trade with Iran, however, one of the UAE?s main trade partners, witnessed a drastic drop in the last three years. ?We have to watch the development of the sanctions regime on Iran. The political argument about relieving the sanction against will definitely improve the trade between the two countries and facilitate ways of payment, which has been the main obstacle in the past three years,? he said.