Abu Dhabi to launch programme to support companies hit by Covid-19
30 May 2020
The Abu Dhabi Department of Economic Development (Added) is set to launch a special programme to support import and export companies in the Capital that are facing challenges due to Covid-19 crisis.
Added will coordinate with such companies to ascertain difficulties faced by them, which affected their operations, and collaborate with concerned government and semi-government entities to offer support.
Rashed Abdul Karim Al Balooshi, Undersecretary of Added, said the new initiative will help improve the efficiency of local export activities, and address logistical constraints that are leading to higher export costs. The programme will increase domestic export volume as well as attract new foreign investors to Abu Dhabi.
Al Balooshi underlined the Abu Dhabi Government's commitment to increase the competitiveness of locally made products and boost their contribution to the emirate's gross domestic product (GDP) through extending support to the national export and import companies and factories and enabling them to export their products to major international markets.
Under the soon-to-be-launched programme, Added will be able to receive relevant companies' opinions, suggestions and proposed solutions concerning their current challenges.
Interested companies can mail their propositions to email@example.com. A dedicated team will analyse their proposals before forwarding them to decision-makers for appropriate actions.
Ghanim Al Fandi Al Mazrouei, executive director of the department's International Economic Relations, said the export-related concerns identified by the department's foreign trade and export support team into two types.
The first one is external or international constraints imposed by countries on their borders or within their territories. These include tariffs or protection and anti-dumping duties imposed on imported goods to protect the local industries from harmful trade practices. Other constraints are procedural challenges in entry points as well as in the distribution and marketing channels of the target country.
The second type involves logistical constraints such as transportation, shipping, handling, storage and clearance costs or any other fees. Al Mazrouei added that the additional fees raise the cost of export operations and, consequently, reduce the companies' competitive edge.
Source: Khaleej Times