DUBAI: A LEADING GLOBAL CENTRE OF TRADE

The most successful global trade centres share three characteristics: a great infrastructure, a business-friendly regulatory environment, and a history of innovation.

In recent years, Dubai has become a leading global market trader. With more than three million residents, an impressive array of transport links, and an ambitious growth agenda, Dubai has quickly earned its place as the major trading gateway where East meets West.

In March, Dubai Crown Prince Sheikh Hamdan announced that the Emirate’s non-oil foreign trade grew to AED 1.4 trillion in 2019, from AED 1.3 trillion a year earlier. Within 12 months, exports had soared from AED 127 billion in 2018 to AED 155 billion by the end of 2019.

Growth on this scale doesn’t happen by chance. Business thrives where frictionless trade is enabled, and general trading in Dubai plays a key role. Success can be driven by great transport links, regulatory initiatives such as free trade ports, or the innovative use of technology. DP World, with its extensive network of ports and terminals, supports seamless global trade by connecting supply chains across continents, ensuring the efficient movement of goods, and driving growth in the logistics sector.

The Evolution of Dubai’s Global Market

Sixty years ago, Dubai was primarily a village, despite its historical role as a trading hub. While visitors were drawn to its thriving pearling and fishing industries, it was far from the global centre it is today.

Perfectly positioned, Dubai is easily accessible worldwide. Most people can get there within eight hours, and a third of the world can be there in half that time. This connectivity is made possible by the Emirate’s two modern airports and impressive supporting infrastructure, which allow the UAE Trade Centre to drive global trade and logistics efficiently.

Dubai International Airport is the world’s busiest airport for international passenger traffic and ranks second globally for international freight. It is complemented by Dubai World Central Al Maktoum International Airport, which is set to handle 12 million tonnes of freight annually and accommodate over 160 million passengers.

These strategic transport links have significantly boosted Dubai’s trade, enhancing its global connectivity to drive more international commerce.

Dubai’s air links are supported by the Jebel Ali Port – the largest seaport in the Middle East and ranked among the top 10 container ports in the world. DP World has supported its flagship port to enable capacity growth from 18 million twenty-foot equivalent units (TEU) to 22.3 million in recent years. Like Dubai’s aviation hubs, the Jebel Ali Port is a key resource in supporting global trade and logistics flow. It hosts over 80 weekly shipping services and connects 150 ports worldwide.

Dubai Trader's Market

Transport connections alone are not enough to drive trade. In recent years, Dubai has made significant efforts in developing the Jebel Ail Free Zone (Jafza) to enhance its position within the Dubai Free Zone network. Today, Jafza is one of the largest free zones globally, playing a pivotal role in boosting the economies of Dubai and the UAE. Since its inception in 1985 with just 19 countries, Jafza has grown in both size and influence. It now hosts over 7,500 companies, including around one-fifth of the Global Fortune 500. In 2018, Jafza generated an impressive $93 billion in trade.

As a major trading centre, Jafza is home to a diverse range of companies across various sectors, with the food and beverage production sector standing out the most. This sector alone includes 529 businesses from 67 countries, with notable representation from Britain (28 companies), the United States (22), France (13), and Germany (7). This international presence highlights Jafza’s significance as a global trade centre.

Jafza’s size and profile make a substantial contribution to the UAE’s economy. Its network of businesses, production facilities, storage units and berths ships accounts for roughly 23.9% of the country’s foreign direct investment and creates around 150,000 jobs across the UAE.

Having attracted the attention of the world’s largest businesses, Dubai is making even more ambitious plans for the future. The new traders market in Dubai is located in Jafza, announced earlier this year, and is likely to enhance Dubai’s reputation for trade even further.

Comprising an area of more than 20 million square feet and located opposite Expo 2020, the Dubai Trader's Market will allow 100% foreign ownership and full repatriation of capital and profits, with no restrictions on worker numbers. Once fully operational, it will feature showrooms, retail spaces, warehouses, offices, hotels, and residential units.

With an ever-increasing thirst for innovation and an ambitious vision for the future, Dubai is fast becoming a world leader in international trade. Its ongoing appetite for global market trading, complemented by international collaboration and a forward-thinking approach to business, solidifies its reputation as a global industry leader. DP World’s comprehensive supply chain solutions play a key role in this growth, offering end-to-end services that connect businesses across the globe and streamline trade processes, further cementing Dubai’s position as a hub for global commerce.

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