Dubai-Singapore trade at $4.9b with 28% growth rate

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People stand on a platform of the Helix Bridge leading the soon to be opened Marina Bay Sands casino in SingaporeDubai-Singapore bilateral trade grew 28 per cent in 2013 to $4.9 billion, of which $1.9 billion were imports, $1.8 billion exports and $1.2 billion re-exports, according to Director Dubai Customs Ahmed Mahboob, who praised the solid relations between the UAE and Singapore, which is one of Dubai’s leading trading partners in Asia.

Cheong Ming Foong, Consul-General of the Republic of Singapore in Dubai, in turn praised Dubai Customs’ world-class business processes and practices.

He said,”The swift and streamlined customs clearance procedures adopted in Dubai make the emirate a destination of choice for Singaporean traders and businesses working in import and export from and to Middle Eastern countries. Add to that the availability of advanced infrastructure in seaports and airports, and the integrated array of government services offered to traders and freight companies, which saves them time and cost; making Dubai the best gateway to extend their reach into the region’s larger marketplace.”

He made this statement during a high-level visit to Dubai Customs to reinforce bilateral ties between the Singapore Consulate in Dubai and the Customs authority. The Consul-General was accompanied by the Commercial Consul Lester Lu.

“Dubai Customs is committed to supporting the Dubai-Singapore commercial and economic relations by addressing the needs of Singaporean traders and investors and enabling them to have a real added value for their business operations in Dubai. To maximize their financial returns and make Dubai the most cost-effective destination for doing business, DC offers them top-notch customs facilitations,” said Ahmed Mahboob.

He further noted the vibrant role played by the Dubai Logistics Corridor,one of the largest multi-modal logistics platforms in the world, which links sea, land and air and bridges Jebel Ali Port, Jebel Ali Free Zone, Dubai Logistics City and Al Maktoum International Airport.The launch of this corridor has significantly improved the flow of sea-to-air cargo.

Cheong Ming Foong remarked that ”There is a remarkable resemblance between Dubai and Singapore that we can build on to create a kind of integration that serves the global economy. Dubai is a major trade hubbetween the East and the West. Similarly, Singapore is an important gateway for Far Eastern markets, offering finance, businesses and medical tourism services. We highly value what Dubai has achieved so far. The emirate’s outstanding experience is globally acclaimed.”

Lester Lupointed out that there are over 250 Singaporean companies operating in the United Arab Emirates in divers sectors such as energy, construction, banking, logistics, trade, telecommunication, real-estate investment, electronics, media, technology and aviation.

“As is the case for Dubai, Singapore is economically and commercially open to the world, with 26 free trade agreements linking it to various countries and economic groups worldwide. There are numerous UAE-Singapore investments in both countries, which boost the sustainability of their longstanding ties,” he added.

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Reading Time: 2 minutes

Dubai-Singapore bilateral trade grew 28 per cent in 2013 to $4.9 billion, of which $1.9 billion were imports, $1.8 billion exports and $1.2 billion re-exports, according to Director Dubai Customs Ahmed Mahboob, who praised the solid relations between the UAE and Singapore, which is one of Dubai’s leading trading partners in Asia.

Reading Time: 2 minutes

People stand on a platform of the Helix Bridge leading the soon to be opened Marina Bay Sands casino in SingaporeDubai-Singapore bilateral trade grew 28 per cent in 2013 to $4.9 billion, of which $1.9 billion were imports, $1.8 billion exports and $1.2 billion re-exports, according to Director Dubai Customs Ahmed Mahboob, who praised the solid relations between the UAE and Singapore, which is one of Dubai’s leading trading partners in Asia.

Cheong Ming Foong, Consul-General of the Republic of Singapore in Dubai, in turn praised Dubai Customs’ world-class business processes and practices.

He said,”The swift and streamlined customs clearance procedures adopted in Dubai make the emirate a destination of choice for Singaporean traders and businesses working in import and export from and to Middle Eastern countries. Add to that the availability of advanced infrastructure in seaports and airports, and the integrated array of government services offered to traders and freight companies, which saves them time and cost; making Dubai the best gateway to extend their reach into the region’s larger marketplace.”

He made this statement during a high-level visit to Dubai Customs to reinforce bilateral ties between the Singapore Consulate in Dubai and the Customs authority. The Consul-General was accompanied by the Commercial Consul Lester Lu.

“Dubai Customs is committed to supporting the Dubai-Singapore commercial and economic relations by addressing the needs of Singaporean traders and investors and enabling them to have a real added value for their business operations in Dubai. To maximize their financial returns and make Dubai the most cost-effective destination for doing business, DC offers them top-notch customs facilitations,” said Ahmed Mahboob.

He further noted the vibrant role played by the Dubai Logistics Corridor,one of the largest multi-modal logistics platforms in the world, which links sea, land and air and bridges Jebel Ali Port, Jebel Ali Free Zone, Dubai Logistics City and Al Maktoum International Airport.The launch of this corridor has significantly improved the flow of sea-to-air cargo.

Cheong Ming Foong remarked that ”There is a remarkable resemblance between Dubai and Singapore that we can build on to create a kind of integration that serves the global economy. Dubai is a major trade hubbetween the East and the West. Similarly, Singapore is an important gateway for Far Eastern markets, offering finance, businesses and medical tourism services. We highly value what Dubai has achieved so far. The emirate’s outstanding experience is globally acclaimed.”

Lester Lupointed out that there are over 250 Singaporean companies operating in the United Arab Emirates in divers sectors such as energy, construction, banking, logistics, trade, telecommunication, real-estate investment, electronics, media, technology and aviation.

“As is the case for Dubai, Singapore is economically and commercially open to the world, with 26 free trade agreements linking it to various countries and economic groups worldwide. There are numerous UAE-Singapore investments in both countries, which boost the sustainability of their longstanding ties,” he added.

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