13/02/2013
"Seatrade Maritime":Gulf States to Invest $36 Billion to Develop Ports
A specialist saidthatthe Gulf Statesspend about$ 36 billionon seaportsand developing their infrastructureandincreasecapacityandstrengthentheir vitalrolein supporting economic growth.
According to the UAE Federal Customs Authority, foreign exports soared in the first eight months of 2012 with non-oil trade reaching almost US$184.6 billion, up US$19 billion against the same period in 2011.
Export growth of 49% saw total exports jump to just under US$31 billion compared to US$20.6 billion the previous year. Foreign non-oil imports were also up by 11%, an increase of US$11.8 billion, with 85.1 million tons of goods coming into the country from January to August 2012.
“The UAE, and its neighbours are fast becoming a more cohesive maritime and air trade power that will provide a vital link between the Far East and Australasia. Europe and North America; and with over US$36 billion investment into port transportation in some of the Gulf’s key destinations, the future potential for trade growth is unlimited,” said Chris Hayman, Chairman of Seatrade.
Federal Customs Authority figures put Asia, Australia and the Pacific as the UAE’s top non-oil trade partner for the period January to August 2012, with a total value of US$77.5 billion, followed by Europe at US$51.5 billion and the MENA region with US$26 billion. Trade volume with the UAE from other Gulf states is also increasing, hitting US$16 billion during the first eight months of 2012.
