Dubai, 12th September 2023: Bafleh Jewellery LLC, a prominent player in the gems and jewelry industry, is delighted to announce the reception of its inaugural shipment under the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Indonesia. CEPA has made an indelible mark on trade relations between these two nations, driving impressive growth in bilateral trade.
On his part, H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, expressed his delight at receiving the inaugural commercial shipment from Indonesia to Dubai as part of the CEPA between the UAE and Indonesia. The event took place in the Headquarters of Dubai Customs office located at the Port Rashid, Dubai. The first shipment of gold jewellery was received by Bafleh Jewellers by Mr. Ramesh Vora and Mr. Chirag Vora from the Ambassador of the Republic of Indonesia, H.E Husin Bagis. The handover was witnessed by Consul General of The Republic of Indonesia in Dubai, H.E. Chandra K. Negara; Director of Indonesian Trade Promotion Center (ITPC), Mr. Muhammad Khomaini, Finance Attache, Mr. Eko NM Saputro; The Executive Director of Policy and Legislation, Dubai Custom, Mr. Mansoor Almalik; The Executive Director of Finance, Dubai Custom, Mr. Rashid Alsharid; Executive Director of Inspection, Dubai Customs, Dr. Abdullah Busenad; and Director of Economic Development, Ministry of Economy, Mr. Rashed Al Taneiji.
Over the past year, the trade volume between the UAE and Indonesia has surged from Dh166.3 billion to an impressive Dh212.1 billion, signifying a remarkable 27.5% increase in the first eight months from April to November 2022. This phenomenal growth has translated into a substantial Dh45.9 billion uptick in trade value.
The CEPA, which officially came into effect on May 1, 2022, has seamlessly facilitated trade operations, fostering mutual benefits for both countries. Commenting on this remarkable achievement and reflecting on the growth of the Gems and Jewelry industry, Mr. Ramesh Vora, Managing Director of Bafleh Jewellery LLC, expressed, “We are extremely delighter to receive the first shipment under the CEPA agreement. It is our honor to receive the same from H.E Husin Bagis. The ease of conducting business has notably improved. Previously, our customers from around the world would place orders with our suppliers, and now they no longer need to do so. With CEPA in place, purchasing jewelry from various regions has become an attractive option. We are one of the highest importers of Gold Jewellery from Indonesia and hoping to import more after this trade agreement ”
Bafleh Jeweller's reception of the first CEPA parcel in Dubai marks a significant milestone and exemplifies the positive impact of this trade agreement on the flourishing UAE-Indonesia trade relationship. The continued growth and success of CEPA are expected to further bolster trade ties between these two nations in the years to come.