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Call to increase promotion budgets
Business leaders in Dubai are urging companies to increase budgets for promoting exports in order to grow sales and gross domestic product (GDP).
The call comes after a report published by the International Trade Centre (ITC) stated that every single dollar spent on export promotion generates $87 worth of additional exports and a $384 increase in GDP.
Sami Al Qamzi, Director General of the Department of Economic Development (DED) in Dubai, said the emirate is uniquely placed to benefit from sustained focus in trade and export promotion.
“Dubai continues to evolve into a strategic manufacturing, export and re-export hub,” said Al Qamzi. “The more local firms realise their export potential and the more Dubai communicates its advantages as a source market for diverse products overseas, the outwardlooking growth strategy of Dubai and the UAE will have the desired results, including a favourable balance of trade.”
Engineer Saed Al Awadi, CEO of Dubai Exports said the role of trade promotion organisations ( TPOs) in driving growth has become more important with the global trade scene becoming more dynamic and volatile.
“A mere one per cent increase in export promotion budget is seen to increase overall exports by 0.074 per cent,” said Al Awadi.
Al Awadi said this year’s focus is diversifying exports from Dubai to 15 countries: China, India, Russia, Saudi Arabia, Qatar, Egypt, France, Hong Kong, Vietnam, Nigeria, Rwanda, Brazil, Paraguay, Azerbaijan, and Uzbekistan. 7DAYS will again be the go to newspaper for all the DP World Tour Championship action as we continue our ongoing partnership with The European Tour’s season-ending tournament. The eighth $8 million DPWTC will see the top 60 players compete on the Earth course at Jumeirah Golf Estates from November 17-20. As Official Newspaper, 7DAYS will provide readers with the very latest information on the Race to Dubai and tournament news via the newspaper, online at 7DAYS.ae and the @7DAYSUAE social media channels. The ‘Race to 7DAYS’ competition will continue for the third year running with great prizes from DP World Tour Championship sponsors. Register for free fast track entry tickets at DPWorldTourChampionship.com