February 25, 2024
Trade Platform

DP World. Supplied Photo.

Trade Platform In the dynamic landscape of global trade, Dubai Trade, serving as the foremost trade facilitation hub in the United Arab Emirates (UAE), has reached an extraordinary milestone by surpassing the 300 million transactions mark since its establishment in 2003. This achievement not only signifies a numerical triumph but also reflects a significant reduction of approximately 617 million printed documents and an impressive saving of 25,400 metric tonnes of CO2 emissions, underscoring the platform’s commitment to environmental sustainability.

A Year of Triumphs: Unveiling the Record-Breaking 2023

In the annals of Dubai Trade’s journey, the year 2023 emerges as a record-setting chapter. The platform witnessed a remarkable 25 percent surge in transactions, recording an impressive 32.6 million compared to the preceding year’s 26 million. Delving deeper into the breakdown, it is revealed that 48 percent of these transactions were intricately related to clearance and border controls, with cargo handling and logistics constituting a substantial 44 percent. This robust growth further solidifies Dubai Trade’s pivotal role in facilitating and streamlining trade activities within the region.

Consistent Growth Trajectory: The Digital Evolution of Dubai Trade

Dubai Trade, the digital arm of DP World in the GCC region, has consistently demonstrated robust growth since its inception, maintaining an average 8 percent year-on-year increase in annual digital transactions. Presently, the platform operates seamlessly, facilitating close to 90,000 transactions on a daily basis. This growth trajectory underscores the platform’s adaptability and responsiveness to the evolving needs of the trade and logistics industry.

Strategic Vision: Aligning with Dubai’s Economic Agenda D33

Sultan Ahmed Bin Sulayem, the esteemed group chairman and CEO of DP World, emphasizes the strategic focus on digitalization as a cornerstone for enhancing the flow of trade. This approach not only aligns with the broader vision of Dubai’s Economic Agenda D33 but also positions Dubai Trade as a key driver of trade efficiency. Through the integration of key stakeholders and a concerted effort to drive trade activity, Dubai Trade has significantly enhanced trade efficiencies, contributing to Dubai’s non-oil foreign trade targets and concurrently supporting sustainability objectives.

Investments in Digital Infrastructure: Paving the Way for Seamless Cross-Border Trade

Mohamed AbuHamra, Chief Operating Officer, Digital Technology, DP World GCC, expresses genuine excitement about Dubai Trade surpassing the 300 million transactions mark. He emphasizes that the ongoing investments in digital infrastructure and smart solutions are geared towards making cross-border trade in Dubai even more seamless, faster, and accessible. The commitment to digital evolution positions Dubai Trade at the forefront of transformative initiatives in the trade and logistics sector.

Comprehensive Digital Ecosystem: Uniting Trade and Logistics Providers

Dubai Trade, conceptualized to bring together diverse trade and logistics service providers, has evolved into a comprehensive digital ecosystem boasting a user base of over 180,000 traders. The platform offers a robust suite of more than 700 digital solutions, including but not limited to customs clearance, government permits, port clearance certificates, company licensing, and free zone administrative services. This all-encompassing approach ensures that Dubai Trade remains a one-stop solution for myriad trade-related processes.

User Growth and Financial Milestones in 2023

In the dynamic realm of digital trade facilitation, user growth is a pivotal metric of success. In 2023 alone, a staggering 22,420 new customers registered on the platform, marking an impressive 17 percent increase from the previous year. This surge in registrations highlights the growing trust and reliance on Dubai Trade’s digital infrastructure. Furthermore, the platform’s digital payment system, Rosoom, witnessed a remarkable 32 percent increase in transactions, reaching 3.3 million in 2023 compared to 2.5 million in 2022. The total value of these payments grew by a substantial 40 percent, surpassing Dh2 billion. These financial milestones underscore the increasing significance of Dubai Trade in the financial landscape, solidifying its role as a pivotal player in the digital economy.

Conclusion: Dubai Trade’s Enduring Legacy and Future Trajectory

Dubai Trade’s journey from its inception in 2003 to crossing the 300 million transactions mark in 2023 is not merely a tale of numerical triumphs but a testament to its enduring legacy and commitment to excellence. The platform’s unwavering focus on digitalization, sustainability, and trade efficiency positions it as a key enabler in Dubai’s economic landscape. As Dubai Trade continues to evolve and adapt to the changing dynamics of global trade, its future trajectory promises to be marked by innovation, efficiency, and a continued commitment to shaping the future of trade facilitation in the region and beyond.

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