DUBAI: The investment of multi-billion dollars into the region’s ports and plans for GCC-wide multimodal transportation systems have failed to gather more business to member countries and their ports.
The report of Agility Logistics Emerging Markets Index 2014 stated that the GCC (Gulf Co-operation Council) countries, along with Jordan, are trying to consider international locations of favorable conditions for business and trade. The index also showed that Saudi Arabia climbed one place to third spot, with the UAE at number six followed by Qatar, Oman, Kuwait and Bahrain at 12, 13, 18 and 22 respectively this year.
It is important to mention here that the GCC has at least 35 major ports and pursuing an ambitious expansion strategy as the logistics sector to inspire more business in the region.
Moreover, in 2013, the UAE’s non-oil trade grew by 5% to $435 billion with the Federal Customs Authority reporting total trade exports registering around $50 billion in 2013 with re-exports growing by 11% to touch $121 billion.
