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Sunday, 15 May 2011

Dubai-Sri Lanka trade exchange reach AED 1.3 billion in 2010

Trade exchange between Dubai and Sri Lanka increased by 8% in 2010 with AED 1.3 billion ($ 353m) compared with AED 1.2 billion ($ 326m) in 2009, according to Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General.

Trade exchange between Dubai and Sri Lanka, in January and February 2011, went over AED 202 million while imports had the biggest share in the exchange with AED 148.4 million as well as AED 22.8 million for exports and AED 31 million for re-exports, he remarked as he received M.M Abdul Raheem, Sri Lanka Consul General in Dubai.

Tea, men's shirts, wooden boards, coconuts and gold top Dubai imports from Sri Lanka. Dubai's exports to Sri Lanka include sugar cane, beet, petroleum oil and mineral oil, fish, float glass and iron and steel products. Sugar cane, beet, domestic tools, cranes, spare parts and machines accessories are Dubai's top re-exports to Sri Lanka.

Butti stressed the Department's keenness to foster trade and economic relations with Sri Lanka.

For his part, Abdul Raheem highlighted the significance of the efforts made by Dubai Customs in supporting legitimate trade movement and expressed his satisfaction for the adopted modus operandi at the Department which reflect its encouragement of traders and investors to do business in Dubai with the minimum administrative requirements and service fees imposed. He pointed out as well that Sri Lanka enjoys distinguished trade and diplomatic relations with Dubai and always seeks to consolidate cooperation taking into account the Emirate's vital position in the fields of economy and tourism.

Source: WAM Emirates News Agency UAE 15 May 2011

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