Dubai and Oman Chambers to consolidate bilateral trade ties

In order to support Oman Chamber of Commerce and Industry to adopt the ATA Carnet system, the Dubai Chamber of Commerce and Industry received a high profile Omani delegation headed by H.E. Abdul Azeem bin Abbas Al Bahrani, Director General, Oman Chamber.

The delegation was at Dubai Chamber head office recently to discuss the procedures and requirements for implementing the international customs document system, known as a ‘passport for goods’.

H.E. Hamad Buamim, Director General, Dubai Chamber, stated that this visit by the Oman Chamber delegation will not only help drive business growth between the two neighbouring countries but will also lead to further cooperation and sharing of ideas and services between regional chambers.

This will also create a favourable environment for trade and business to grow and prosper in the entire region, he said.

Mr. Atiq Juma Nasib, Senior Director, Commercial Services Sector, Dubai Chamber, apprised the delegation with the functioning of the ATA Carnet system which he said is a valuable tool that facilitates the duty-free and tax-free temporary import and export of goods for trade shows and exhibitions for up to one year.

He further stated that Dubai Chamber has been playing a leading role in promoting ATA Carnet in the region following the system’s successful launch in the UAE in April 2011. This year, till the end of October, Dubai Chamber issued 53 ATA Carnet documents, for goods worth a total value of AED 27 million, he said.

The Senior Director of the Commercial Services Sector informed that the implementation of the ATA Carnet system by Oman will allow businesses from both the countries to participate in trade fairs and exhibitions and will inspire GCC countries to adopt the system which will ultimately help increase trade traffic within the region.

On their part, the visiting delegation lauded the role of Dubai Chamber in promoting trade relations between the business communities in Dubai and Oman, and expressed their willingness to adopt the ATA
Carnet system which they said will directly help Oman boost bilateral trade ties with its neighbours.

The ATA Carnet is an important tool for businesses as it allows the temporary admission of merchandise and goods, commercial samples and professional equipment and includes cameras, computers, musical instruments, vehicles, jewellery, clothing and medical devices, works of art and artifacts, items for use in fashion shows, horses participating in races, and sound systems for use and display at trade shows and exhibitions. It excludes perishable items.

The system not only saves time, money and facilitates most Customs formalities through the use of a single document but also allows the movement of business people and their representatives participating in trade fairs and directly helps in enhancing the country’s position as a global destination for business and investment