$ 273 million in trade between Dubai and the Caribbean in 2017

Media IN Dubai, 22 November 2018,
The trade volume between Dubai and the Caribbean region reached $ 273 million in 2017, according to a recent analysis issued by the Dubai Chamber of Commerce and Industry (DCCI), which also revealed the promising investment opportunities in the Caribbean markets.
The analysis, which comes ahead of the launch of the first UAE-Caribbean Cooperation Forum organized by the Ministry of Foreign Affairs and International Cooperation and the Dubai Chamber in cooperation with the ministries of economy, culture and knowledge development from November 24 to 26, indicated that $ 183 million in trade was in the form of imports from Dubai Caribbean countries, accounting for about two-thirds of the total value. Dubai’s exports to the Caribbean have reached $ 90 million, accounting for 33% of Dubai’s total bilateral trade with the region.
The analysis highlighted the prospects for Caribbean companies to cooperate with companies in the UAE and Dubai and investment opportunities in vital sectors including agriculture, food security, manufacturing, logistics, tourism and renewable energy, as well as areas such as emerging technologies and technologies. In enhancing the performance of these sectors and achieving the best rates of growth and development.
Hamad Buamim, Director General of Dubai Chamber of Commerce and Industry, said: “The UAE and Dubai have a great relationship with the Caribbean countries and there are promising future prospects for enhancing trade relations due to the importance of these countries. All world markets “.
Buamim stressed that the Caribbean provides economic potential and great opportunities for growth for UAE and Dubai companies wishing to open new business horizons. He pointed out that the Caribbean is one of the best destinations in the world, providing a wide range of opportunities for companies operating in the tourism and hospitality sector .
The analysis showed that the Caribbean countries attracted direct foreign direct investment of US $ 6.89 billion in 2017. The United States, Canada and China were among the first countries to invest heavily in the region.
Among the commodities identified by the report with high export potential for the Caribbean are plastics, jewelery, iron and steel, materials, copper wire, fertilizers, cosmetics, perfumes, glass containers and soaps. The most promising investment sectors in the Caribbean and Dubai include logistics, Agriculture, light industries and energy.