The Dubai Chamber of Commerce and Industry has started to prepare for the launch of the electronic certificate of origin (ECO), which will take place later this month.
This is part of Dubai Chamber’s commitment to HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai’s program to transform the city into a hub that is globally smart. The program will also help Dubai to maintain its leadership position in offering world-class services throughout the business community.
“Dubai Chamber is one of the leading chambers globally to issue the highest number of certificates of origin (CO) in the world as we issued around 900,000 COs last year and with the launch of the electronic certificate of origin this year we are expecting to issue around 1 million certificates,” Dubai Chamber CEO and President H.E. Buamim said. “We are confident that the eCO will greatly contribute in stimulating our foreign trade with the world as this is in line with the aspirations of our wise leadership to not to wait for the customer to come to us, but to take the initiative to reach out to him through world-class services.”
Buamim also said the Dubai Chamber is ready to provide technical support and facilities in the introduction and implementation of electronic certificates of origin to its regional counterparts.
“The time to process and issue an online-submitted certificate of origin does not exceed 20 minutes, and can take 12 minutes, while a regular issuance of CO at the head and branch offices of the Chamber may take more than an hour, as this involves travelling to the Chamber, submission in person and the waiting time to complete the transaction,” Dubai Chamber Senior Director for the Commercial Services Sector Atiq Juma Nasib said. “Therefore, the eCO will save more than 78 percent of the time and effort of the client including the time required to reach the office, and will also help enhance the Chamber’s drive to provide the best services to the business community.”
Anthony Parkes, director of ICC's World Chambers Federation said during the recent eCO workshop, GCC Customs officials and their member states emphasized the priority and importance for online solutions to modernize and improve the efficiency of trade facilitation processes.
“Our chamber delegation from six nations shared their experiences of the effective public private sector partnerships which can exist between chambers of commerce and Customs in better serving the trading community,” Parkes said