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To position the emirate of Dubai as a global logistics hub for cross-border e-commerce operations, Dubai Customs recently signed cooperation framework agreements with the Dubai Airport Freezone (DAFZA), Dubai CommerCity and Dubai South to leverage their e-commerce capabilities and boost the growth of this sector. The deals were signed on the sidelines of the Gitex Technology Week.
Dubai South is Dubai’s largest single urban master development focusing on an aviation and logistics ecosystem that houses the world’s largest airport when fully operational complemented by a multi-modal transport infrastructure connecting air, land and sea.
Dubai CommerCity provides an all-in-one e-commerce hub for new and existing businesses.
To position Dubai as a global logistics hub for cross-border e-commerce, Dubai Customs recently signed cooperation framework agreements with the Dubai Airport Freezone, Dubai CommerCity and Dubai South to leverage their e-commerce capabilities and boost the growth of this sector. The deals were signed on the sidelines of the Gitex Technology Week.
Under the agreements, the partner entities can use and integrate various Dubai Customs services and benefits available on its cross border e commerce platform.
Dubai Customs’ recently launched a cross-border e-commerce platform, which uses blockchain technology to integrate and automate operations between customs, free zones, logistics and courier companies. It is the first of its kind in the region, and aims to help the emirate become a global hub for e commerce, and encourage e commerce companies to set up business operations in Dubai.
The government’s plan is to raise Dubai-based companies’ domestic and regional distribution share of e commerce trade in the emirate to about AED24 billion by 2022, through a 20 per cent reduction in e-commerce operational costs, according to an official press release.
The platform services will help reduce expenses and increase returns on e-commerce investment. E-commerce is expected to contribute AED12 billion to the emirate’s gross domestic product by 2023.
The United Arab Emirates has kept pace with the booming global e-commerce industry, marking a rise in e-commerce sales from $5 billion in 2015 to $19.7 billion in 2020. The volume is expected to reach about $27 billion (AED100 billion) in 2022.
Fibre2Fashion News Desk (DS)
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