Dubai Enhances Customs Procedures To Keep Pace With Regional Trade Agreements

Looking to double trade to US$7 trillion by 2033

Dubai Customs is actively keeping up with the comprehensive economic partnership agreements between the United Arab Emirates and several major countries in global and regional trade markets.

As these agreements take effect, a new phase of trade exchange commences, promising a substantial boost in both quality and quantity. This development significantly bolsters the UAE’s foreign trade, which recorded an impressive 17% growth, reaching AED2.233 trillion (US$607 billion) in 2022 compared to the previous year.

This includes newly implemented customs policies to support trade exchanges with partner countries, as part of comprehensive economic partnership agreements. These policies define the scope, obligations, preferential treatment, and general provisions related to goods and products trade, as well as rules of origin. Specialized customs centers and departments are entrusted with enforcing these policies, ensuring adherence to the terms and provisions of the agreements.

The department plays a pivotal role in contributing to Dubai’s D33 economic agenda, by striving to double the overall value of Dubai’s foreign trade to AED 25.6 trillion (about US$7 trillion) for goods and services over the next decade. Additionally, it seeks to expand the global trade network by adding 400 new cities to its cooperation and integration network.

This focuses on continuous enhancement of commercial and customs services, fostering economic prosperity, and protecting the community while consistently satisfying the needs of traders and investors, further attracting trade and investment to both Dubai and the United Arab Emirates as a whole.

The UAE is party to several multilateral and bilateral trade agreements, including with partner countries in the GCC. As part of the GCC, the UAE has strong economic ties with Saudi Arabia, Kuwait, Bahrain, and Oman, meaning the UAE shares a common market and a customs union with these nations. Under the Greater Arab Free Trade Area Agreement (GAFTA), the UAE has free trade access to Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Jordan, Egypt, Iraq, Lebanon, Morocco, Tunisia, Palestine, Syria, Libya, and Yemen.

It also signed its first CEPA (Closer Economic Partnership Agreement) with India, which entered into force on May 1, 2022. The UAE has also concluded CEPA agreements with Indonesia, Israel, and Turkey. The next round of trade pact negotiations will begin soon with Chile, Vietnam, Ukraine, Kenya, Pakistan, and Thailand.

Related Reading

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• UAE, Israel, Sign Free Trade CEPA Agreement
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