UAE is world’s 25th biggest importer of commercial services; WTO report

Dubai - UAE is the world’s 25th biggest importer in commercial services, according to the most recent classification by the World Trade Organisation (WTO) Secretariat for 2011, surpassing countries like Austria, Norway, Luxemburg and Malaysia. KSA occupied 22nd position worldwide in the same report.
According to the report, the UAE imported US$ 46 billion in commercial services, representing 1.2 percent of the world’s imports which stood at US$ 3,865 billion of commercial services trade in 2011. KSA’s imports reached US$ 55 billion capturing 1.4 percent of the global trade.
According to the same report, USA was ranked first with US$ 391 billion and France came sixth with US$ 141 billion.
These figures were released in connection with the 27th International Autumn Trade Fair (IATF2012), the region’s pioneer consumer goods show, which was inaugurated today (11 December 2012) by HH Sheikh Hasher Al Maktoum, Director General, Dubai Department of Information and will continue until 13 December 2012 at the Dubai International Convention and Exhibition Centre.
HH Sheikh Hasher said after the inauguration: 'Organisers informed me that the exhibition has witnessed an increase in the number of exhibitors from 360 companies in the last edition to 400 companies in this edition. This shows the remarkable economic growth in the UAE. It also demonstrates the instrumental role Dubai is playing and its strategic location in the global trade. There is a significant increase in the number of companies that are opening up headquarters in Dubai to serve the Middle East, Africa and South Asia markets.'
Satish Khanna, General Manager of Al Fajer Information Services, organizers of the show, said: 'Arab countries were absent from the list of top 30 exporters of commercial services trade in the world. USA has topped the list with US$ 578 billion where UK came second with US$ 274 billion. Sweden was ranked 17th and Norway 25th with exports of US$ 76 billion and US$ 42 billion respectively. The global exports trade of commercial services saw an 11 percent increase over 2010. This shows that the volume of trade in the world is increasing and with the slowdown in Europe and North America, the Middle East is set to play a bigger role to play in the global trade.'
Khanna added: 'We anticipate good turnout at IATF 2012 over three days. The show has emerged as a leading regional buyer-seller meeting ground for the consumer goods segment in the Arab region. It has attracted 400 exhibitors from 20 countries, showcasing their products across an area of 8000 square meters.'
Khanna added: 'One of the highlights of this year’s edition is Taiwan’s presence, which is participating for the first time at an official level, after a gap of over 20 years. Featuring 20 exhibitors, Taiwan participation is sponsored by TAITRA, the official body responsible for the promotion of export and international trade.'
Ever since its debut, IATF has grown as a significant exhibition brand in our portfolio serving the niche sector of consumer goods. Over the last couple of years, the show has become more attractive to global consumer goods companies with the rise in spending power of the region, particularly the GCC. This year also, most of the regular exhibitors of the show came back with new products, underscores the strategic effectiveness of the fair as a regional platform to showcase and launch consumer goods and penetrate the market.
This year, the fair is hosting the official national pavilions of five countries, occupying 90 per cent of the 8,000-square metres of exhibition space. The national pavilions include 225 exhibitors from China, 35 from Hong Kong, 15 from Korea, 10 from India, 20 from Taiwan. Other countries participating at IATF2012 at individual levels include UAE, Netherlands and Indonesia amongst others.
Over the last 26 years, IATF has been recognised as a robust regional business platform for the global consumer goods industry keen to expand footprints in Middle East and North Africa (MENA) region.
Hong Kong is part of IATF12 for the ninth consecutive year with 35 exhibitors. The large scale participation of Hong Kong comes against the backdrop of the increasing trade between the East Asian country and the UAE and the region in general. The UAE is the single largest trade partner of Hong Kong in the Middle East region.
The HK pavilion is organised under the banner of Hong Kong Trade Development Council and is displaying a variety of consumer products, including gifts and premium, electronics, houseware and household products, in addition to fashion and fashion accessories.
IATF12 is unveiling throughout three days an exciting mix of products comprising cosmetics, foodstuffs, electronics, household appliances, plastic household products, toys, stationery, electrical items, handicrafts, carpets, garments, textiles, house ware, kitchen ware, sanitary ware, novelties, machinery, machine tools, hardware accessories and dairy products.
Zhejiang Foreign Trade Economic Co-operation Bureau is repeating their presence at the 27th edition of the show. Geared up to meet the contemporary living with style innovation, they are bringing in a wide range of goods manufactured in Zhejiang Province of China with participation from over 70 well established enterprises.
In line with the past trends, participation from China continues to be enormous, with the pavilions being organised by several official bodies like China Foreign Trade organisation, Sinobal China, Shenzhen Wanbo, Massbetter Group, CCFNA and others. These participants have been represented at the IATF since its inception.
Korea is making make their presence felt with over 15 companies from various provinces of Korea. Owing to its high expectation and value as a means for business, KITA and Busan Economic Promotion Agency are giving extensive support to Korean exhibitors in the show. Bringing new realms of business to explore, Korea promises to offer a broad range of products with active participation.