DP World’s Jebel Ali Port has reported its largest volume of containers handled in a month since 2015, as the UAE’s non-oil foreign trade surges on the back of comprehensive economic partnership agreements.
Dubai’s flagship port handled 1.4 million TEUs (Twenty-Foot Equivalent Units) of containers in July, state news agency Wam said on Friday.
This follows a strong performance in the first half of 2024, with the port handling 7.3 million TEUs, up 3.9 per cent year -on- year, driven by “strong inbound cargo movement, particularly from key Asian markets including China, Japan and the Republic of Korea,” the report said.
“For over 45 years, Jebel Ali has been a catalyst for the growth of trade and the economy in Dubai and the wider region,” Sultan Bin Sulayem, chairman and chief executive of DP World Group, said.
“As one of the largest and most efficient ports in the world, it remains a cornerstone of our global network, significantly contributing to Dubai's economic vision and regional trade.”
The announcement comes as the UAE continues to forge strong trade ties with different countries globally as it seeks to boost non-oil foreign trade to more than Dh4 trillion ($1 trillion) by 2031.
In the first half of this year, the country’s non-oil foreign trade hit a record Dh1.4 trillion, up 11.2 per cent on an annual basis amid a 25 per cent surge in non-oil exports on new Cepas, according to the Government Media office on Sunday.
The UAE’s non-oil exports to its top 10 trade partners grew by 28.7 per cent during the period, while with all the other nations, it recorded a 12.6 per cent increase.
Cepas aim to reduce tariffs and remove bottlenecks that hamper trade with different countries.
The UAE is aiming to sign 26 Cepas. While deals have been reached with India, Turkey, Israel, Indonesia, Cambodia, Georgia, South Korea, Chile and Mauritius, talks are under way with Serbia, Vietnam, the Philippines, New Zealand and Ecuador.
Overall, Cepas are expected to add about 2.6 per cent to the UAE's economy by 2030, according to Dr Thani Al Zeyoudi, Minister of State for Foreign Trade.
DP World is also expanding its Jebel Ali Port and has started the construction of its new agri-terminals complex as part of efforts to bolster the UAE’s food security, it said in February.
The company is investing Dh550 million in building the new unit along with Adroit Overseas Canada and Al Amir Foods.
COMPANY%20PROFILE
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Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club:
1st ODI, Wednesday, April 10
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
More on Quran memorisation:
More on Quran memorisation:
Company%C2%A0profile
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
2018 ICC World Twenty20 Asian Western Regional Qualifier
Saturday results
Qatar beat Kuwait by 26 runs
Bahrain beat Maldives by six wickets
UAE beat Saudi Arabia by seven wickets
Monday fixtures
Maldives v Qatar
Saudi Arabia v Kuwait
Bahrain v UAE
* The top three teams progress to the Asia Qualifier
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
INDIA'S%20TOP%20INFLUENCERS
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THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
RACECARD
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England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
Sonchiriya
Director: Abhishek Chaubey
Producer: RSVP Movies, Azure Entertainment
Cast: Sushant Singh Rajput, Manoj Bajpayee, Ashutosh Rana, Bhumi Pednekar, Ranvir Shorey
Rating: 3/5
Killing of Qassem Suleimani
Killing of Qassem Suleimani
KILLING OF QASSEM SULEIMANI
Palestine and Israel - live updates
Five%20calorie-packed%20Ramadan%20drinks
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Scream%20VI
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Racecard
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