Non-oil trade at Dubai’s Jebel Ali Free Zone hits $80.2 billion in 2016

China kept its position as the free zone’s major player with $11.3 billion worth of non-oil goods, equipment and commodities being shipped in via the Jebel Ali port. (AP)
Updated 13 August 2017
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Non-oil trade at Dubai’s Jebel Ali Free Zone hits $80.2 billion in 2016

DUBAI: Non-oil trade at Jebel Ali Free Zone rose 17 percent to $80.2 billion (SR300.75 billion) or an equivalent 27.9 million tons in 2016, from 23.9 million tons a year earlier.
China kept its position as the free zone’s major player with $11.3 billion worth of non-oil goods, equipment and commodities being shipped in via the Jebel Ali port; followed by Saudi Arabia with $7 billion; Vietnam with $4.3 billion and the US with $3.7 billion.
Machinery, electronics and electrical goods accounted for almost half of the total trade at Dubai’s main trade and logistics hub, while petrochemicals and the oil and gas sector had 16 percent; followed by food and fast-moving consumer goods at 8 percent; textiles and garments at 7 percent and automotive and spare parts at 6 percent.
“The value and volume of trade through Jafza underlines the strength of the national economy and its ability to adapt to global trading conditions, create investment opportunities and open up new markets to exports from the UAE,” Sultan Ahmed bin Sulayem, the group chairman and chief executive of DP World, said in a statement.
Trade with the Asia Pacific region in 2016 reached $32.4 billion; with the Middle East at $27.2 billion; the European continent at $9.9 billion; the Americas at $5.5 billion and Africa at $5 billion.
“Jebel Ali Port plays a pivotal role in enabling international trade so companies operating in Jafza can import and re-export their goods and products to the various countries of the region,” bin Sulayem said, noting Dubai’s logistics corridor, which connects the port with Al Maktoum International Airport in a single customs zone, helps reduce the sea-to-air time constraint in the movement of goods.
“Reducing the time taken for the movement of goods between sea and air transport modes and making the area the main transit gateway in the Middle East,” he said.


US unveils new veto threat against WTO rulings

Updated 23 June 2018
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US unveils new veto threat against WTO rulings

  • US tells WTO appeals rulings in trade disputes could be vetoed if they took longer than the allowed 90 days
  • Trump, who has railed against the WTO judges in the past, threatens to levy a 20 percent import tax on European Union cars

GENEVA: The United States ramped up its challenge to the global trading system on Friday, telling the World Trade Organization that appeals rulings in trade disputes could be vetoed if they took longer than the allowed 90 days.
The statement by US Ambassador Dennis Shea threatened to erode a key element of trade enforcement at the 23-year-old WTO: binding dispute settlement, which is widely seen as a major bulwark against protectionism.
It came as US President Donald Trump, who has railed against the WTO judges in the past, threatened to levy a 20 percent import tax on European Union cars, the latest in an unprecedented campaign of threats and tariffs to punish US trading partners.
Shea told the WTO’s dispute settlement body that rulings by the WTO’s Appellate Body, effectively the supreme court of world trade, were invalid if they took too long. Rulings would no longer be governed by “reverse consensus,” whereby they are blocked only if all WTO members oppose them.
“The consequence of the Appellate Body choosing to breach (WTO dispute) rules and issue a report after the 90-day deadline would be that this report no longer qualifies as an Appellate Body report for purposes of the exceptional negative consensus adoption procedure,” Shea said, according to a copy of his remarks provided to Reuters.
An official who attended the meeting said other WTO members agreed that the Appellate Body should stick to the rules, but none supported Shea’s view that late rulings could be vetoed, and many expressed concern about his remarks.
Rulings are routinely late because, the WTO says, disputes are abundant and complex. Things have slowed further because Trump is blocking new judicial appointments, increasing the remaining judges’ already bulging workload.
At Friday’s meeting the United States maintained its opposition to the appointment of judges, effectively signalling a veto of one judge hoping for reappointment to the seven-seat bench in September.
Without him, the Appellate Body will only have three judges, the minimum required for every dispute, putting the system at severe risk of breakdown if any of the three judges cannot work on a case for legal or other reasons.
“Left unaddressed, these challenges can cripple, paralyze, or even extinguish the system,” chief judge Ujal Singh Bhatia said.
Sixty-six WTO member states are backing a petition that asks the United States to allow appointments to go ahead. On Friday, US ally Japan endorsed the petition for the first time, meaning that all the major users of the dispute system were united in opposition to Trump.