Saudi Arabia is Dubai’s biggest trade partner in the Gulf and in the Arab World, and the 4th internationally.
Dubai and Saudi Arabia are looking at ways to boost cooperation in bilateral trade and customs business.
“It’s very important for us to boost ties of partnership with our brothers in Saudi Arabia and its diplomatic missions and business councils and corporates. The Kingdom is a very important trade partner to Dubai,” Director General of Dubai Customs Ahmed Mahboob Musabih said after receiving Abdul Hadi Mohammed Al-Shafi, the Saudi Consul-General to Dubai, at his office.
Saudi Arabia is Dubai’s biggest trade partner in the Gulf and in the Arab World, and the 4th internationally. Dubai non-oil external trade with Saudi Arabia in 2018 made 55 billion dirhams, and in Q1 2019 it reached 13.2 billion dirhams.
“There is much room for more cooperation, and there are many opportunities of business and investment between Dubai and the Kingdom” Musabih said in a statement from the Dubai Media office.
In May, the UAE and Saudi Arabia signed an authorised economic operator (AEO) agreement aiming to improve the customs cooperation between the two countries and facilitate trade.
Musabih confirmed Dubai deliver the best services and facilities to Saudi firms and businesses in support of this partnership. This also paves the way for enhanced trade in conjunction with Expo 2020, and the launch of Dubai Silk Road.
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