Dubai Emerging as Global Trade Hub

Dubai is becoming a commercial and financial hub of the United Arab Emirates (UAE). It has shown a record growth of 54 percent in non oil sector.

Many foreign companies and investors are showing interest in the potential market of the city. Its non oil direct foreign trade is measured 80.8 billion U.S. dollars in the first half of 2008. The data, showing the growth story of the city, is released by the statistics department of the Dubai World. It is an agency of the Dubai government for managing businesses and projects for the city.

The overall import of Dubai has shown an increase of 52.7 percent. India has emerged as a good business and trade partner for the city in 2008. Both traded 54.3 billion dirhams of bilateral trade in 2008.

The director of the Dubai World, Saeed Al Qaizi said that the city has a huge potential for investment and various companies are showing interest in the city. Excellent development of infrastructure and related facilities helped in the growth in the non conventional sectors.