The role of Dubai Chamber of Commerce and Industry (Dubai Chamber) in expediting the flow of goods into and out of the UAE was highlighted in the latest Ask the Expert video, with the presentation the latest offering from Dubai Chamber’s ‘Business Connect’ – an initiative established to inform the business community about key aspects of doing business in Dubai.
Featuring Atiq Juma Faraj Nasib, Senior Vice President for Commercial Services at Dubai Chamber, the presentation discussed how the chamber is instrumental in helping the free-flow of products between Dubai and destinations around the world, with its move towards electronic services playing an important role in speeding up the necessary processes.
“Dubai Chamber has to be quick to ensure trade facilitation is on time so that goods can be moved and transactions conducted. Dubai Chamber has already taken a lot of measures in this regard – all our transactions are automated in accordance with Dubai’s vision for smart government and the smooth flow of electronic transactions. Customers don’t need to come to the chamber anymore – they can simply log on to our website, enter the details needed for the documentation they require, pay for it, and then collect it,” said Nasib.
Nasib explained said that the transition to e-services had helped customers involved in importing and exporting goods as it had reduced the time and expense involved in receiving a certificate of origin, with 98 percent of all documents issued by the chamber available online.
“Last year, our members exported goods worth Dhs185 billion from Dubai, with our membership increasing by 16,000 new members to reach 261,000 in 2020. We will continue to serve all our customers the best way we can and beyond,” he continued.
Nasib highlighted that Dubai Chamber recognises the importance of adopting the ATA carnet system, with the initials standing for ‘admission and temporary admission’ of goods. He said that the system allows goods to come into the country on a temporary basis, negating the need to pay customs duties or value added tax. He said the system had been instrumental in helping professionals bring in business samples and goods required for specific temporary events, such as exhibitions and sporting fixtures.
“Dubai Chamber is proud to be in the chain of the ATA Carnet and we hope that many other people will consider using the system, as it entitles importers to bring in their goods and take them out of the country smoothly. Dubai is a major hub for events and exhibitions and the use of this carnet has facilitated the importation of items that are being exhibited or used in events held in Dubai,’ said Nasib.
“This service can now be applied for online and we are proud to be one of the few chambers that uses an online service for this type of document. We are very grateful for those who are using the service and look forward to others joining it. This service is available for all members of the UAE business community, even if they are in another emirate. All they need to do is contact their local chamber of commerce in their emirate. They will then contact Dubai Chamber and we’ll be very happy to issue the documents for them,” he added.
The ‘Ask the Expert’ series utilises Dubai Chamber’s social media channels to create a platform to deliver important business information, as well as acts as a forum for members of the business community to pose their questions to industry experts. The series has been designed to engage with the private sector and respond to its members’ changing needs.
Earlier, Dubai Chamber hosted a high-level Italian business delegation from Confindustria Cisambiente to discuss joint cooperation and the possibility of Dubai being the hub for expansion of the Confederation’s activities in the region, keeping in view the importance that Dubai gives to sustainability and innovation.
The delegation, led by Dr. Giovanni Bozzetti, President – External Relations, Confindustria Cisambiente and Nicola Lener, Ambassador, Embassy of Italy in UAE, met with Hamad Buamim, President & CEO, Dubai Chamber, Omar Khan, Director, International Offices, and other senior officials of the Chamber, along with Dr. Habiba Al Marashi, Chairperson, Emirates Environmental Group.
The purpose of the meeting was to introduce Confindustria Cisambiente and its companies to Dubai Chamber, understand the targets that Dubai has in term of ecology, sustainability and circular economy, how Dubai companies are working to achieve these targets, as well as meet with representatives of the Emirates Environmental Group
Also, the Dubai Chamber, in cooperation with BSA Ahmad Bin Hezeem & Associates, recently organised a webinar updating businesses on the latest amendments to the UAE Bankruptcy Law.
The webinar was attended by 251 participants, including business owners, managers, lawyers, legal practitioners, corporate counsel, financial managers, chartered accountants, risk managers, financial auditors, and investors representing a wide range of economic sectors. The session was moderated by Lara Barbary, Partner at BSA Ahmad Bin Hezeem & Associates LLP; Barry Greenberg, Counsel at BSA Ahmad Bin Hezeem & Associates LLP, and Musab Iftikhar, Associate at BSA Ahmad Bin Hezeem & Associates.
The webinar aimed aimed at helping company owners and investors understand the legislative amendments that were introduced late last year to the bankruptcy law, allowing foreign investors to learn about the legislative frameworks that preserve their rights and provide them with protection due to the economic impact of the COVID-19.
