Jebel Ali Port breaks nine-year record for container volume in July on Cepa deals

Port handled 1.4 million TEUs last month topping its previous high set in 2015

Jebel Ali Port handled 7.3 million TEUs of container volumes in the first half of 2024. Photo: Dubai Media Office

DP World’s Jebel Ali Port has reported its largest volume of containers handled in a month since 2015, as the UAE’s non-oil foreign trade surges on the back of comprehensive economic partnership agreements.

Dubai’s flagship port handled 1.4 million TEUs (Twenty-Foot Equivalent Units) of containers in July, state news agency Wam said on Friday.

This follows a strong performance in the first half of 2024, with the port handling 7.3 million TEUs, up 3.9 per cent year -on- year, driven by “strong inbound cargo movement, particularly from key Asian markets including China, Japan and the Republic of Korea,” the report said.

“For over 45 years, Jebel Ali has been a catalyst for the growth of trade and the economy in Dubai and the wider region,” Sultan Bin Sulayem, chairman and chief executive of DP World Group, said.

“As one of the largest and most efficient ports in the world, it remains a cornerstone of our global network, significantly contributing to Dubai's economic vision and regional trade.”

The announcement comes as the UAE continues to forge strong trade ties with different countries globally as it seeks to boost non-oil foreign trade to more than Dh4 trillion ($1 trillion) by 2031.

In the first half of this year, the country’s non-oil foreign trade hit a record Dh1.4 trillion, up 11.2 per cent on an annual basis amid a 25 per cent surge in non-oil exports on new Cepas, according to the Government Media office on Sunday.

The UAE’s non-oil exports to its top 10 trade partners grew by 28.7 per cent during the period, while with all the other nations, it recorded a 12.6 per cent increase.

Cepas aim to reduce tariffs and remove bottlenecks that hamper trade with different countries.

The UAE is aiming to sign 26 Cepas. While deals have been reached with India, Turkey, Israel, Indonesia, Cambodia, Georgia, South Korea, Chile and Mauritius, talks are under way with Serbia, Vietnam, the Philippines, New Zealand and Ecuador.

Overall, Cepas are expected to add about 2.6 per cent to the UAE's economy by 2030, according to Dr Thani Al Zeyoudi, Minister of State for Foreign Trade.

DP World is also expanding its Jebel Ali Port and has started the construction of its new agri-terminals complex as part of efforts to bolster the UAE’s food security, it said in February.

The company is investing Dh550 million in building the new unit along with Adroit Overseas Canada and Al Amir Foods.