China, India Become Top Exporters to UAE

%3CFONT%20face%3DVerdana%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20and%20India%20replaced%20long-%20standing%20Western%20suppliers%20of%20goods%20to%20the%20United%20Arab%20Emirates%20%28%20UAE%29%20to%20become%20the%20dominant%20exporters%20to%20the%20Gulf%20nation%2C%20accounting%20for%20nearly%20a%20quarter%20of%20its%20total%20imports%20last%20year%2C%20the%20Emirates%20Business%2024/7%20website%20reported%20Wednesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIndia%20exported%20a%20record%20high%2061.5%20billion%20dirhams%20%28about%2016.7%20billion%20dollars%29%20worth%20of%20goods%20to%20the%20UAE%20in%202009%2C%20accounting%20for%20around%2013.7%20percent%20of%20the%20country%27s%20total%20imports%2C%20the%20report%20said%2C%20citing%20figures%20by%20the%20National%20Bureau%20of%20Statistics%20of%20the%20Economy%20Ministry.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20figures%20showed%20that%20China%27s%20exports%20to%20the%20UAE%20stood%20at%2047.%208%20billion%20dirhams%20%28about%2013%20billion%20dollars%29%20last%20year%2C%20constituting%20around%2010.7%20percent%20of%20the%20country%27s%20total%20imports%20of%20447.3%20billion%20dirhams%20%28about%20121.8%20billion%20dollars%29.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ETaken%20together%2C%20exports%20by%20India%20and%20China%20to%20the%20UAE%20totaled%20around%20109.3%20billion%20dirhams%20%2829.7%20billion%20dollars%29%20in%202009%2C%20accounting%20for%20nearly%2024.5%20percent%20of%20the%20country%27s%20total%20imports%2C%20the%20report%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBoth%20countries%20had%20been%20small%20exporters%20to%20the%20UAE%20compared%20with%20such%20major%20industrial%20powers%20as%20Japan%2C%20the%20United%20States%20and%20the%20European%20Union%20during%20the%201990s%20before%20they%20overtook%20them%20and%20became%20the%20top%20exporters%20to%20the%20country%2C%20the%20second%20largest%20Arab%20economy%20and%20one%20of%20the%20top%2020%20global%20importers.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20surge%20was%20a%20result%20of%20an%20aggressive%20marketing%20blitz%20by%20India%20and%20China%2C%20the%20competitive%20price%20of%20their%20products%2C%20proximity%20to%20the%20region%2C%20their%20strong%20political%20relationship%2C%20and%20persistent%20volatility%20in%20the%20bill%20of%20imports%20from%20key%20Western%20economies%20because%20of%20the%20peg%20between%20Gulf%20currencies%20and%20the%20U.S.%20dollar%2C%20the%20report%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAs%20for%20re-exports%2C%20the%20figures%20showed%20that%20Iran%20remained%20the%20largest%20market%20for%20re-exported%20products%20from%20the%20UAE%2C%20mostly%20from%20Dubai%2C%20with%20a%20value%20of%20around%2025.9%20billion%20dirhams%20%28about%207.05%20billion%20dollars%29%20in%202009%2C%20accounting%20for%2017.6%20percent%20of%20the%20UAE%27s%20total%20non-oil%20re-exports%20of%20147%20billion%20dirhams%20%28about%2040.05%20billion%20dollars%29.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAccording%20to%20the%20Cairo-based%20Arab%20League%2C%20the%20UAE%20became%20the%20largest%20trading%20hub%20in%20the%20region%20in%202009%20after%20overtaking%20Saudi%20Arabia.%20Dubai%2C%20the%20country%27s%20business%20capital%2C%20has%20also%20maintained%20its%20position%20as%20the%20Middle%20East%27s%20transshipment%20center%2C%20handling%20over%20a%20fifth%20of%20the%20Gulf%20region%27s%20non-oil%20trade.%20%3CBR%3E%3C/FONT%3E%3C/P%3E%3C/FONT%3E