February 6th, 2017 by Own A Space
For improving bilateral trade relations of Dubai with India and protecting the trader’s interests importing products from Dubai Emirate, the Department of Economic Development (DED), has launched a new programme of Buyer Protection. The department’s promotion agency, the Dubai Exports has come up with the initiative designed by CCPC i.e. Commercial Compliance & Consumer Protection sector in DED as a pilot project by its Overseas Trade Office in India.
Commercial disputes will get resolved at minimal costs & quickly because of this programme. Traders of India can contact the representatives of Dubai Exports office for submitting any complaints after which the CPCC will start working towards settlement.
In India, the launch of the programme comes within a week of joint statement made together by Sheikh Mohammed Bin Zayed Al Nahyan, Indian Prime Minister Narendra Modi & Prince of Dubai, to develop a method & long term strategy for the rise of bilateral trade by 60% in coming 5 years.
Picture courtesy: financialexpress.com
The statement included that the potential sectors & impeding tariff & non tariff barriers, discovering of opportunities in service sectors and formulating sector specific strategy to boost the bilateral trade & investments will be the main areas to focus upon.
New phase of dynamic & sustainable engagements with leadership in India & UAE will be formed and added to the historic trade relationship of both the countries. This will enable them to work closer for optimizing their respective strengths.
First nine months data of 2016 reveals that the trade between both the countries was over Dh70 billion which is US $ 19.1 billion. Right now, Indian imports to Dubai are of around 60% of the total trade value while exports from emirates are 12%. Gold is the largest exported commodity from Dubai to India which accounts half the value, followed by copper wires, polymers and metals.
To penetrate & showcase the products and expertise, Indian office is important idea for aiding them in targeting the markets. This programme will open the doors for the companies of Dubai to boost their exports further not only in India but also in other neighbor countries. Under the BPP, a firm can file a complaint using Dubai Exports against a supplier from Dubai. Once the evidence gets collected, ccp will make sure the matter is resolved within 10 working days. The programme is aimed for the ease of doing business & efficiency of services provided which differentiates Dubai as a competitive hub.
Dubai Exports has six overseas trade offices in Saudi Arabia, Brazil, Egypt, Germany, Russia apart from India.
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