Dubais non-oil foreign trade in 2017 grew AED26 billion to reach AED1.302 trillion ($354 billion), it was revealed on Monday. Dubai’s re-exports grew nine percent last year to AED360 billion while Dubai’s imports reached AED798 billion and exports totaled AED144 billion. Its foreign free zone trade grew five percent to AED434 billion while direct trade touched AED829 billion and customs warehouse trade reached AED39 billion. Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, who is also chairman of the Dubai Executive Council, praised the growth of Dubai’s non-oil trade in 2017. Dubai’s competitiveness plays a key role in attracting investments from around the world, which seeks to take advantage of Dubai’s position as a regional and international trading hub, he explained. “Trade is one of the key sectors that drives Dubai’s growth as a major global trading hub, which is supported by the emirate’s long heritage of being a gateway for global trade. The current growth of its non-oil foreign trade is an indication that we are on the right path of revenue diversification,” Sheikh Hamdan stated. “Customs clearance conducted through AEO (Authorized Economic Operators) accounted for 23 percent of the total clearance of Dubai Customs in 2017,” Group Chairman of DP World and CEO and chairman of the Ports, Customs and Free Zone Corporation Sultan Ahmad Bin Sulayem said. “This is expected to reach 50 percent in 2020,” he added. Dubai Customs also launched the ‘Smart Refund System’, which allows customers to refund their customs deposits through a smart solution that reduces time and costs, eliminates errors, mitigates fraud, improves service compliance and increases customer satisfaction. Dubai’s non-oil foreign trade conducted through land transportation grew 4.1 percent to Dh241 billion in 2017 while sea trade grew 3.3 percent to Dh467 billion and air trade accounted for Dh594 billion.