India Among Dubai's most Important Export Markets

February, 05th 2011

DUBAI: India and Pakistan in South Asia remain Dubai's most important export markets , says a Department for Economic Development (DED) survey.

The DED survey also revealed that firms in the South Asian region have been trading with Dubai companies for many decades and their proximity makes them the first foreign market for exports. Distant markets tend not to be very important as far as firms are concerned.

The survey found that Dubai firms intend to use their existing portfolio of goods and services to enter new foreign markets.

The general view is that product development is both an expensive and risky affair.

The survey is part of an extensive programme of conducting regular business surveys to track the level of economic activity in the previous and upcoming quarters of the year.

DED Deputy Director General for Economic Development Ali Ibrahim said: "The survey shows that the business community strongly believes that the economic growth the Emirate is witnessing will continue."

The surveys cover the manufacturing, service, and retail sectors and will complement the existing data collected by various government bodies along with the companies' outlook.

"The surveys seek to complement the existing data collected by various government bodies by providing decision makers an insight into the business sentiment regarding their past experience and near-term business conditions," he added.

The survey will help decision makers develop strategies and policies, including near term economic forecasts for their research, business or investment purposes.

It also seek to create a platform to understand and analyze the changes that have taken place or are due in the business sector.

Source: economictimes.indiatimes.com