Dubai Customs explores more mutual trade with KSA

After recent signing of AEO mutual recognition agreement
 

Dubai, United Arab Emirates -  08 July  2019:   Director General of Dubai Customs Ahmed Mahboob Musabih received in his office H.E. Abdul Hadi Mohammed Al-Shafi, the Saudi Consul-General to Dubai. The two discussed means of boosting cooperation between Saudi Arabia and Dubai especially in bilateral trade and customs business. 

“It’s very important for us to boost ties of partnership with our brothers in Saudi Arabia and its diplomatic missions and business councils and corporates. “The Kingdom is a very important trade partner to Dubai” said Musabih. 

An Authorized Economic Operator (AEO) mutual recognition agreement has recently been signed between the UAE and Saudi Arabia. This will help reduce clearance time to minimum and boost mutual trade between the two sides. 

Saudi Arabia is Dubai’s biggest trade partner in the Gulf and in the Arab World, and the 4th internationally. Dubai non-oil external trade with Saudi Arabia in 2018 made AED 55 billion, and in 1Q 2019 it reached AED 13.2 billion.

“There is much room for more cooperation, and there are many opportunities of business and investment between Dubai and the Kingdom” Musabih Said. 
Director of Dubai Customs confirmed they deliver the best services and facilities to Saudi firms and businesses in support of this partnership. This also paves the way for enhanced trade in conjunction with Expo 2020, and the launch of Dubai Silk Road, the first article in the 50-Year Charter, which was initiated by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

Musabih also reaffirmed Dubai Customs efforts in developing ties of cooperation with the Saudi companies. He also invited for more Saudi participation in the Carpet & Art Oasis which Dubai Customs annually organizes and has become one of the prominent international carpet exhibitions.  

The Saudi Consul thanked Dubai Customs for their cooperation which have led to the development of mutual trade, especially with the signing of the mutual recognition agreement.