By Marcus Lawrence From Business Chief

Dubai’s non-oil trade with Caribbean countries reached US$273mn in 2017, according to the Emirates News Agency (WAM)

The figure, released as part of an analysis by the Dubai Chamber of Commerce and Industry in advance of the inaugural UAE-Caribbean Cooperation Forum, signifies the emirate’s considerable interest in Caribbean markets.

Imports into Dubai made up the bulk of the trade volume, with a value of around $183mn, with a third of Dubai’s Caribbean trade consisting of $90mn in exports.

Of Dubai’s trading partners in the Caribbean, Suriname tops the list with 42% of the total trade between Dubai and the region at $113.8mn.

“The Caribbean region is an extremely important market for the UAE, as it is home to more than 42 million people who can benefit from the goods and services Dubai exports and re-exports,” said Hamad Buamim, President and CEO of the Dubai Chamber of Commerce and Industry, according to WAM.

“The analysis highlighted these opportunities and the broad scope for Caribbean companies to cooperate with Dubai-based companies in various economic sectors such as food security, manufacturing, logistics, tourism and renewable energy, as well as fintech and emerging technologies.”

He reportedly added that the Caribbean region offers a host of strategic trading benefits for the UAE, including its proximity to both the US and Latin America, its wealth of natural resources, and foreign investment-friendly markets.

For more on this story go to: https://middleeast.businesschief.com/leadership/2161/New-report-highlights-significance-of-Dubai-Caribbean-trade

IMAGE: Clockwise from top left: skyline with Burj Khalifa;Burj Al Arab; Palm Jumeirah and The World Islands; Dubai Marina; and Sheik Zayed Road. – Wikipedia