World Bank places UAE third in 'trade across borders' ranking

A World Bank report has ranked the United Arab Emirates (UAE) as the third best country in the world for enabling trading across borders and Dubai Trade pays a crucial role as the online service provide, Jamal Majid Bin Thaniah, chief executive of Dubai World and chairman of Dubai Trade, said today.

UAE has steadily moved up the rankings list in the `Trading across Borders' category, from fifth position last year and thirteenth in 2009, the World Bank said in its annual 'Doing Business' report for 2011.

The World Bank ranking is based on an analysis of export and import data, documents associated with official procedures and the time and cost consumed in completion of trade transactions.

Dubai Trade, as the leading trade facilitator under Dubai World, has been a principal source for collection of the data and communication with the World Bank team for the past three years, Dubai World said in a release.

"The World Bank 'Doing Business' report is an important benchmark to measure the high level of excellence that the UAE and Dubai have maintained over the years in promoting trading across borders. The seamless and efficient movement of goods enabled by Dubai Trade's online portal deserves full praise. We congratulate Dubai Trade for helping keep this country's competitive edge truly sharp," Jamal Majid Bin Thaniah, chief executive of Dubai World and chairman of Dubai Trade, said.

Dubai Trade is associated with the World Bank's `Doing Business' project in compiling reports on the global trade flow patterns and how the 183 countries on its list have fared on a yearly basis.