The Dubai Chamber of Commerce and Industry recently released an
industry special report that showcases how the UAE is becoming increasingly
competitive in Saudi Arabia’s import market.
Saudi Arabia is now the second
largest destination for products made in the UAE after India.
GCC customs unification procedures have sped up and
facilitated the movement of goods between the two countries.
“The UAE is keen on maintaining the best trade relationships
with Saudi Arabia,” Hamad Buamim, president and CEO of the Dubai Chamber, said.
“Strong exchange between GCC countries serves to boost the economic performance
of the Council as a whole and, consequently, of the entire Arab region. We need
to cooperate amongst ourselves to implement all measures necessary to ensure an
unobstructed flow of goods and services across borders, to the benefit of all
parties.”
Saudi Arabia imports a diverse product portfolio, but items
dominating the import list include pearls, precious stones, metals and coins. Twenty-two percent of UAE exports in these categories went to Saudi Arabia.
Dominating the list of imports from Saudi Arabia to the UAE,
on the other hand, were ships, boats and floating structures.
