Abu Dhabi launches digital initiative to boost exports


Abu Dhabi launches digital initiative to boost exports

10 May 2020

Abu Dhabi is introducing an initiative to boost exports from the emirate to 60 target markets worldwide in an effort to further expand its foreign trade.

The new digital platform, Abu Dhabi Export Gateway, will “offer an integrated approach” to exporting at least 100 local products from 10 different sectors, the Abu Dhabi Department of Economic Development said on Sunday.

The new project will further support local export companies. It will also expand their contribution to the emirate’s gross domestic product as efficiency, export capacity and investments improve, Mohammed Ali Al Shorafa, chairman of the department, said.

The first phase of the Abu Dhabi Export Gateway is set to be launched in August.

“The platform will cover more than 100 local products across 10 different sectors and industries and is designed to accommodate expansion as local exporters may add more products they wish to promote via the platform.”

The new platform will also provide statistics on local exports and information about the economic performance of crucial sectors in Abu Dhabi and the UAE.

Mr Al Shorafa said the 60 target markets across the world were chosen based on the emirate’s established connections, economic relations and mutual trade.

The team managing the project will frequently review the needs of local companies and demand in foreign markets during the next six months, Ghanem Al Mazrouei, the department's executive director of international economic relations, said.

“Based on the results, the platform will add other global markets and target sectors, as well as a range of smart digital services that would enhance local companies’ exporting capabilities and practices.”

The unveiling of the platform comes as the UAE launches new measures to support exporters affected by the coronavirus pandemic.

Last month, Etihad Credit Insurance, a federal entity, said it would extend export credit insurance and additional funding to exporters and businesses facing payment and supply chain disruptions.

It is offering financial support to domestic companies through bank loans.

Abu Dhabi also waived Dh246 million in penalties to support small and medium-sized enterprises operating in the commercial and industrial sectors earlier this year.

The waived fines are related to various economic infractions including licence renewal delays, engaging in additional economic activities not covered by an existing licence and the improper storage of goods in unsafe areas.

Source: The National