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Dubai is now the third-largest re-export hub
A surge in Chinese exports to Dubai has boosted the emirate's position as the third largest re-export hub in the world after Hong Kong and Singapore.
Updated : Nov 19, 2013, 11:17 PM IST
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DUBAI: A surge in Chinese exports to Dubai has boosted the emirate's position as the third largest re-export hub in the world after Hong Kong and Singapore, according to reports.
Average annual growth rate of imports from China was 14 per cent from 1997 to 2005, while China's trade with the UAE grew 31.5 per cent in 2006 to $14.2 billion.
Lately, there has been a mushrooming in the low price gift shops, which has eliminated a lot of products that are not price competitive according to a report in Gulf News.
"Chinese government targets to double Middle East trade - set to reach $100 billion in 2010, up from $51.3 billion in 2005," said a report by Global Sources.
Trade through the emirate represents 80 per cent of the UAE's foreign trade recorded last year that is about 143.34 per cent of the country's GDP in 2006.
"The results of our China Supplier Survey clearly show the Middle East is an increasingly important market for the success of China's exporters," Global Sources chairman and CEO, Merle A Hinrichs, said.
"Likewise, buyers in the Middle East need to meet growing consumer demand for quality products - and are turning more and more to quality China suppliers to meet this demand."
