Tuesday, June 28, 2011
Electronics & IT trade in Jafza registers average growth of 8.5% over five years
Top consumer electronics companies convene to discuss future strategies and operational issues at Jafza’s 5th Strategic Customer Forum
DUBAI, United Arab Emirates - Tuesday, June 28th 2011 [ME NewsWire]
Electronics and IT companies based in Jafza generated trade worth AED 51 billion in 2009, compared to AED 35 billion in 2005, registering a Compound Annual Growth Rate (CAGR) of 8.5 % in the five year period. The increasing trade reflects the steady growth enjoyed by the sector due to rising consumer demand in the UAE and the rest of the Middle East.
These trade figures and the trade trends in the Electronics and IT sector within the Free Zone were announced by Jafza officials and industry representatives at the recently held Strategic Customer Forum focused on the electronics industry.
Ibrahim Mohamed Al Janahi, Deputy CEO, Jafza and Chief Commercial Officer, together with other senior officials and partners of Jafza addressed individual and collective concerns of the participants. He said: “Jafza plays a key role in facilitating trade and business opportunities for more than 1,050 electronics companies based in the Free Zone. Since we are uniquely positioned to impact trade and investment for this sector, we continuously liaise with government officials to encourage easing trade policies and regulations that will benefit customers. These forums help us better understand industry trends, requirements and operational concerns. The constructive dialogue and optimistic outlook from all representatives at the forum speaks well for continued growth opportunities.”
The UAE’s consumer electronics market, defined as the addressable market for computing devices, mobile handsets and audiovisual and gaming products, is projected at USD 4.0bn in 2015. The growth, forecasted in a recent BMI report, will be driven by the popularity of new electronic devices such as LED and 3D TV sets, 3G mobile handsets, smart phones, feature-rich notebooks, MP3/MP4 players and Blu-ray players.
Representatives from Sony Gulf, Panasonic, Samsung Gulf, LG Electronics and Nikai Gulf among others attended the event. They met with high-level officials and Jafza partners including Dubai Customs, DP World, Dubai Trade and Dubai Chamber of Commerce & Industry, who addressed queries and suggestions to improve operations and free zone effectiveness.
During the event Dubai Customs addressed individual issues and queries on customs regulations and policies, explaining that officials were in regular dialogue with government representatives to address federal rules and GCC customs policies.
The Forum also discussed ways in which Jafza and its customers could take advantage of emerging opportunities in high-growth markets in Africa and the Far East.
The Strategic Customer Forum was the fifth in a series of industry events initiated by Jafza to encourage dialogue with key clients. The first four forums were held for clients in the Logistics, Chemical, Oil & Gas, Automotive, and Machinery & Equipment Manufacturing sectors.
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