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The Dubai Chamber of Commerce has launched a new online business intelligence tool to help Dubai traders discover the untapped potential of exporting goods to 30 promising markets in the Middle East and North Africa, Asia, Africa and Europe.
There are 26 major commodities listed on the platform with an estimated value of $10. Exporters in the UAE can take advantage of billions of untapped opportunities.
The analysis is based on an export potential indicator developed by the International Trade Center (ITC), which uses an economic model that considers exporters’ supply, target market demand, market access conditions, and bilateral trade relations to determine untapped export potential.
HE Hamad Buamim, President and CEO of the Dubai Chamber of Commerce, said that the new products provide valuable insights that can help exporters effectively target strategic markets and explore specific business prospects. He pointed out that the launch of the tool is in line with the new goal recently announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which is to promote Dubai’s growth from 1.4 dirhams. Foreign trade trillion to 2 trillion dirhams in the next five years.
“By identifying the markets with the greatest potential for trade, we provide our members with exciting export opportunities that can help them expand their global influence. The new initiative further pushes the Dubai Chamber of Commerce to explore prospects around the world through its network of international offices The positive approach to the market has opened up new opportunities for our members,” HE Buamim said.
The online tool can be accessed via the following link:
https://www.dubaichamber.com/resources/information-and-research/untapped-export-potential
Jewelry ranks among the most promising commodities, with an estimated annual export gap of 6.6 billion U.S. dollars. Hong Kong is considered to be the market with the greatest untapped potential for jewelry (US$1.5 billion), and its current imports of jewelry from the UAE are valued at US$1.1 billion.
The export gap of copper wire ranks second, at 924 million U.S. dollars, and India is considered the most potential market at 208 million U.S. dollars.
The third-ranked products for export potential are beauty, make-up and skin care products, with a total gap value estimated at 350 million U.S. dollars. The three Asian markets of China, Hong Kong and Singapore offer the greatest potential for these commodities.
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