Dubai's Chamber of Commerce Assists in Overseeing AED 4.3 Billion in ATA Carnet Trade Transactions Throughout 2024
Simplifying International Trade: Dubai Chamber's ATA Carnet Initiative
In 2024, the Dubai Chamber of Commerce has taken a significant step forward in enhancing the city's position as a global business hub by actively supporting and issuing ATA Carnets. These documents play a crucial role in facilitating international trade and events, making customs procedures more efficient and cost-effective.
ATA Carnets are internationally recognized customs documents that allow goods to be temporarily imported or exported without paying customs duties or import taxes. This system significantly simplifies customs procedures, reduces costs, and speeds up the movement of goods for exhibitions, trade shows, professional equipment, and commercial samples.
The benefits of the ATA Carnet system are not limited to importing commercial samples, professional equipment, and exhibition materials. It also facilitates smooth border crossings and efficient customs clearance for business travelers and exhibitors. Moreover, the system eliminates the need for security deposits and does not specify a time limit beyond the general one-year period.
In 2024, the Dubai Chamber issued and received 5,357 ATA Carnets, facilitating the import of goods valued at AED 4.3 billion. Khalid AlJarwan, the Vice President of Commercial and Corporate Services at Dubai Chambers, emphasized the significance of the ATA Carnet system in simplifying customs procedures.
The ATA Carnet system was developed under the Istanbul Convention of 1990 and was established in collaboration with Dubai Customs, the Federal Customs Authority, and UAE chambers of commerce. By providing ATA Carnet services, the Dubai Chamber enables companies and event organizers to efficiently move goods across borders, fostering international trade, expanding market access, and supporting Dubai’s global economic growth objectives.
The ATA Carnet system also plays a crucial role in streamlining international trade fairs, making Dubai a competitive and attractive global trade center and event destination. This aligns with broader economic goals including increasing foreign trade and investment, and fostering digital transformation of businesses in the emirate.
Through these efforts, the Dubai Chamber of Commerce not only simplifies logistics for businesses but also promotes Dubai as a leading global trade center and event destination. The ATA Carnet system enhances trade efficiency while reducing costs for businesses, making it an invaluable tool for Dubai's economic growth and development.
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