The Dubai Export Development Corporation (DEDC) will implement a credit insurance scheme for exporters within the next few months, according to its Chairman, Khalid Al Kassim.
The new scheme is one of a number of initiatives being planned by the DEDC to effectively deliver value-added trade support services for Dubai exporters, said Al Kassim.
Addressing an Export Development Corporation seminar ‘From The UAE To The World,’ Al Kassim told delegates: “We are well on our way to introducing some significant initiatives which will help us attain our goals. Within a few months we expect to have in place a credit insurance scheme for Dubai exporters, which will act almost as a factoring service, and ensure prompt payment for exporters.
“We are also moving ahead with a scheme which will provide legal and regulatory advice on quality audits, trade policies and free trade agreements to exporters.”
The seminar – the first in a series planned by DEDC to educate and assist the emirate’s growing exporter base to identify new opportunities and expand their reach – was addressed by four experts from the logistics, financial services and government sectors.
Issues discussed included means of leveraging logistics, utilizing finance to achieve export strategies and how to leverage free trade agreements.
“Dubai already has a good export foundation from which to advance. Goods made, produced or assembled here are shipped or flown to all parts of the globe – including clothing, foodstuffs, engineering components, furniture and, of course, petrochemical by-products. But much more can be achieved and we will achieve it together,” said Al Kassim.
“This workshop is only the start of a comprehensive educational programmed which, we hope, will help manufacturers and traders develop their knowledge of export procedures and requirements. By sharing knowledge, we will advance opportunities.”
The workshop also heard from DEDC’s Chief Executive Officer, Engineer Saed Al Awadi how the corporation planned to create an enabling environment for exports, including the simplification of export procedures and the formulation of an export diversification strategy.
“We aim to enhance the competitiveness of Dubai exporters by leveraging free trade agreements, introducing export financing schemes, provide training on export marketing, the production of an export procedures manual and the creation of a one-stop shop for all export documentation,” he said.
Al Awadi also told delegates that the corporation would work to position the ‘Made In Dubai’ label as an international mark of quality, would activate and energise trade missions and trade fair participation, stage conferences, intensify local and overseas marketing, introduce an export awards scheme and facilitate trade enquiries and opportunities.
Dubai non-oil Foreign Trade figures show that last year exports from the emirate were valued at AED18.26 billion – a 63.4% increase on the previous.
-End-
About Dubai Export Development Corporation:
Established in 2006, the Dubai Export Development Corporation (DEDC) is an autonomous organisation under the directive of the Government of Dubai.
Its vision is to be a world-class model in assisting and facilitating exporters, by creating an enabling environment for exports, with the aim of enhancing the competitiveness of Dubai as a preferred trading partner.
The DEDC has moulded its mission to identify and effectively deliver value-added trade support services to Dubai export enterprises for accelerated and profitable expansion of their business in foreign markets.
