Dubai-EU trade hits Dh77.2b

trade exchange with European Union countries has seen a slight rise in the first six months of the year. According to recent official statistics, trade hit Dh77.2 billion in the first half of 2012 compared to Dh77 billion over the same period in 2011. The value of Dubai’s imports from EU countries reached Dh61.2 billion during the January-to-June period this year, totalling nearly the same value registered during the first six months of last year, while its exports to the 27-member bloc reached Dh3.7 billion during the first six months of 2012 compared with the Dh3.2 billion recorded during the same period in 2011. The value of re-exports to EU states stood at Dh12.3 billion during the first six months of this year compared with Dh11.3 billion during the same period last year, the report revealed. Dubai’s trade exchange with EU states, especially with eastern Europe countries, continued to achieve record growth rates; Estonia (369 per cent), Bulgaria (332 per cent), Lithuania (225 per cent), Slovakia (77 per cent) and Poland (35 per cent) all posted robust growth. Such indicators reflect the openness of the UAE economy to new markets worldwide in overall trade activity. Dubai’s basic imports from the eastern Europe were furniture, petroleum oils, tobacco, telecommunication machinery and instruments, sunflower seeds and wires. Its major exports to these countries were polyethylene, cigarettes, raw aluminum, plastic, printing films, glassware, acoustic devices, ceramics, washing and bath basins. Dubai’s major re-exported items were auto-spare parts and accessories, engineering materials used in planning, telecommunication instrument and machines, automobiles and vehicles. From khaleejtimes