Foreign trade has multiplied 5 times in 10 years

Ahmed Mahboob Musabih, Director of Dubai Customs, has called for stronger international cooperation to enhance trade facilitation by better aligning customs procedures globally, reinforcing the vibrant role played by customs administrations worldwide in boosting trade growth. "The Global Customs and Trade Facilitation Summit is a very essential event that would surely contribute into realizing these goals and giving global economy the momentum it needs," he said.
Dubai Customs’ senior official underscored that the fast developing global trade requires that customs authorities around the world adopt and implement best practices and standards, whether issued by the World Customs Organization or others. "They also need to pursue innovation, harness information technology, build human capacity and focus their efforts and processes towards facilitation of trade without losing focus on their core security mission of safeguarding communities." Mahboob made these statements while addressing the "Global Customs and Trade Facilitation" summit in Global Trade Development Week-EMEA 2014, which is taking place on October 27-29 at Emirates Towers under the patronage of UAE Ministry of Economy.
The three-day event includes four main summits in trade, finance, investment and customs, and brings together 600 multilateral government and business leaders and 120 high-profile speakers from 90 nations around the world.
The Global Customs and Trade Facilitation summit is held in strategic partnership with Dubai Customs. The newly-launched summit as part of this year’s GTDW programme of events intends to address the role of customs in reducing barriers to global trade. It highlights the importance of strengthening international cooperation and sharing of information among customs agencies and the business sector to ease and boost legitimate trade.
Welcoming the delegations participating in the summit, Ahmed Mahboob Musabih, said: "The Global Trade Development Week is rightfully hosted by the United Arab Emirates due to its privileged position as a global and regional trading and business hub. The UAE enjoys such a deserved status owing to the nation’s continued efforts and dedication to deliver an exemplary economic model."
Source: WAM