Dubai’s Food Exports to Russia Grow 74% Annually From 2011-2013

Posted: December 29, 2014 in Econ 101, Free Trade

SOURCE:  http://gulfnews.com/business/economy/dubai-s-food-exports-to-russia-grow-74-annually-from-2011-2013-1.1433059

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Dubai’s food exports to Russia grow 74% annually from 2011-2013

By Staff Report

December 28, 2014

Dubai Exports said on Sunday the food trade with Russia has grown annually by 74 per cent between 2011 and 2013.

Dubai’s food exports to Russia rose to almost Dh211 million in 2013 from Dh15 million in 2011, while construction and building materials exports to Kazakhstan grew to Dh39 million from Dh17.8 million during the same period.

“The excellent results we have been able to generate in and around CIS [Commonwealth of Independent States] proves the effectiveness of our strategic plans systematically evolved through evaluating overseas markets and their requirements as well as the availability of competent local exporters,” Saed Al Awadi, Chief Executive Officer of Dubai Exports, said in a statement.

The average exports grew 48 per cent to Kazakhstan, while re-exports to Azerbaijan grew 12 per cent annually during the same period. Food exports to Russia increased 273 per cent while food re-exports grew 122 per cent between 2011 and 2013.

Dubai and the UAE have a growing number of local firms capable of expanding to new markets owing to their service excellence and diversity of products offered.

Dubai is a major source markets for products including aluminium, precious metals, ceramics, and edible oils and fats, plastic, sugar and confectionery, fertilisers, glass and glassware, copper, and iron and steel products to Russia and the CIS. In terms of value gold jewellery and plastic materials constitute Dubai’s leading exports to Russia and the CIS.

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