(MENAFN - Khaleej Times) The time-saving efficiency of e-services developed by Dubai Trade FZE, the leading trade facilitator under Dubai World, is leading to billions of dollars in annual savings for the public sector and numerous benefits for traders and the economy as a whole, according to a recent, independent case study carried out by the Emirates Competitiveness Council (ECC).
The study says the reduction in the number of days required to import or export goods via Dubai ports from 12 days to seven days has potentially led to total savings of Dh148 billion (more than 40 billion) over five years ending 2011, which accounts for about 17 per cent of the UAE's 2009 GDP. The benefits will further multiply this year after Dubai Trade reduced the processing time to only seven days through its electronic services.
The ECC study follows a recent 2012 World Bank "Doing Business" report that shows the UAE today has raised its global ranking to fifth in 'trading across borders', and is now ahead of Organisation of Economic and Cooperation Development (OECD) countries by a wide margin.
Dubai Trade has created a competitive advantage to both the public and private sectors by leveraging UAE's location advantage; having a strong customer-centric business strategy in place; and fostering innovative public and private sector synergies, the study says.
Jamal Majid bin Thaniah, chairman of Dubai Trade, vice-chairman of DP World and Group CEO Port & Free Zone World said: "The case study highlights the substantial benefits gained by all stakeholders in the trading community from the e-services Dubai Trade offers and which it continues to improve. It is further evidence that Dubai Trade is living up to its mandate to facilitate trade across borders and outperform developed countries in this field to attract more international trade."
The electronic platform established by Dubai Trade allows Customs and other government parties to share data and information within a single window, leading to a better managed, more transparent administration of Customs, and increasing the capacity to move goods across UAE's borders efficiently and securely.
