Dubai has been striding forth to become the global center of trade and commerce. The magnetism of opportunities has caused the desert city to expand beyond oil wells, proceeding towards utilizing its adjacent free zones and heating the foreign trade and commerce in the region. With China as the primary partner, Dubai has secured its momentum for strengthening bilateral trade relationship with the world. Consequently, the non-oil foreign trade rose to Dh1.2 trillion during the first nine months in 2019, reflecting Dubai’s bolstering economy and transformation growth.
Among the top commodities traded, gold tops the line, followed by mobile phones and diamonds. The signs of Dubai’s resilient economy are becoming evident with its growing relationship with global trade leaders like China, India, and Saudi Arabia. The government is also working to shift the foreign trade on a fast-track route through innovative projects like Dubai Silk Road and a virtual trade zone to boost e-commerce development, as conveyed by Sheikh Hamdan, Crown Prince of Dubai. It is hoped that the extensive scope of these projects will introduce a new dimension in trade – the potential of which will parallel Dubai’s emerging economy with the future.