New Financial Assistance Scheme to Help SMEs Boost Exports

The Dubai Export Development Corporation (EDC), an agency of the Government of Dubai’s Department of Economic Development, has launched its new Export Assistance Program, which would provide financial assistance to aspiring and current exporters.

The Export Assistance Program has been developed to help privately owned small and medium enterprises (SMEs) exploit international business opportunities by providing access to financial assistance that will help them to commence and develop their export activities which would result in the export of goods and services of UAE origin.

H.E. Sami Al Qamzi, Director General of Dubai’s Department of Economic Development (DED), explained that the newly launched scheme would serve as a catalyst for creating, developing and expanding export markets for UAE products. “In accordance with Dubai’s Strategic Plan 2015, the Export Assistance Program will help us expand the overall number of sustainable national exporters for the long-term benefit of Dubai and the United Arab Emirates as a whole,” he said.

“Qualified SMEs will be encouraged to undertake export promotion activities in order to create or increase the demand outside the country for their products. Suitable activities which are eligible for partial reimbursement under the Export Assistance Program include conducting market studies, carrying out market visits, exhibiting at trade exhibitions and carrying out buyer visits,” Al Qamzi added.

Saed Al Awadi, CEO of the Export Development Corporation, said that over the past three years, EDC has worked tirelessly to create an enabling environment for Dubai’s exporters and enhancing the competitiveness of Dubai as a preferred trading partner. “The EDC has a very clear objective to be a world-class export development and promotion body and has developed value-added trade support services to UAE based firms exporting through Dubai for accelerated and profitable expansion of their businesses in foreign markets”.

“This new scheme is aimed at promoting exports of goods and services that are of UAE origin with a minimum 40% value addition in the UAE,” he added.

Apart from the Export Assistance Program, the EDC also offers practical export advice, international market intelligence and on-going export support to aspiring and current exporters in Dubai and the rest of the UAE.