The DED announced that it had signed an agreement with the Geneva-based International Trade Center (ITC) and would work in close co-ordination with the ITC to develop detailed proposals related to the establishment of the EDC.
"Trade is one of the most important sectors in Dubai and currently accounts for more than 17 per cent of the Emirate's GDP. With increasing focus on international trade, we need to further streamline our export mechanisms, so that exporters can maximize their advantage from the unique position occupied by Dubai in the region," said Mr. Khalid Al Kassim, Deputy Director General for Planning and Development, DED. "The Export Development Centre being set up by the DED will be a unique trade promotion organization and will facilitate Dubai-based exporters to identify and target the best export opportunities," he added.
"The Export Development Centre, which is expected to be established by the end of the year, will offer extensive support to Dubai-based exporters. It will contribute to the establishment of a strong export sector, by strengthening Dubai's capacity to maximize existing trade relations with external markets and to develop new markets abroad," said Mr. Al Kassim.
"Trade promotion organizations are of crucial significance to a place like Dubai, which has positioned itself as the trading hub of the region. The proposed EDC will further strengthen the existing export sector by enabling members of the Dubai business community to deal more efficiently with foreign markets," said Mr. Philip Williams, Senior Advisor on Trade Support Institutions, ITC. "We are pleased to be working with the DED, which is responsible for driving economic growth in Dubai," he added.
The DED will work closely with the ITC to develop the vision and mission of the EDC and to agree on its major functions and services. The report from the ITC is expected to contain detailed proposals for the objectives, functions, institutional structure, outline work plan and preliminary budget of the EDC.
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DED to set up Export Development Center to facilitate Dubai-based exporters
- United Arab Emirates: Saturday, May 14 - 2005 at 11:58
- PRESS RELEASE
The Department of Economic Development (DED) has been mandated by the Dubai Executive Council to take steps towards the establishment of an Export Development Center (EDC) in Dubai, to ensure the focused development of the growing export sector.
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For further information, please contact:Sameh Hamtini / Sudha Chandran
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About Department of Economic Development (DED):
The Department of Economic Development (DED) was established in March 1992, with the objective to organise, regulate and boost trade and industry within the Emirate of Dubai. The DED has moulded its mission of building a futuristic establishment, in accordance with the vision of the Government of Dubai and in the light of globalisation and the requirements of a digital economy. One of its key functions is to encourage local and foreign investments in commercial and industrial projects, and create the appropriate environment for investors.
The DED's other functions comprise a wide range of regulatory activities including the preparation and maintenance of a commercial register and the supervision of all organisations. The DED is responsible for regulating the affairs of commercial agents and brokers and commercial advertising offices, in addition to overseeing and controlling the insurance industry in the Emirate. Examining the participation of the government in the private sector and representing the government in companies where it has a stake, also comes under the purview of the DED.
About International Trade Center (ITC), Geneva:
The International Trade Center (ITC) is the technical cooperation agency of the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO) for operational, enterprise-oriented aspects of trade development.
The ITC supports developing and transition economies, and particularly their business sectors, in their efforts to realize their full potential for developing exports and improving imports operations. The ITC works in six areas; product and market development, development of trade support services, trade information, human resource development, international purchasing and supply management and needs assessment, program design for trade promotion.
Posted by Lara Lynn Golden, News EditorSaturday, May 14 - 2005 at 11:58 UAE local time (GMT+4)
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