Textile traders were among the first to spot Dubai’s potential as a hub from which trade could be done with neighboring countries. Many factors contributed to Dubai’s attractiveness as a business city. Prime among these were:
• The business friendly policies of the Emirate
• The continuous investments in infrastructure improvement
• Excellent transport and communications links with the world
Success feeds upon itself. Dubai kept on improving its competitive advantages, and businessmen, including textile traders, kept flocking to Dubai. By the 1980s, a small market town had become an important regional business destination. In the 1990s, Dubai emerged as the major regional business hub for the MENA region. In the new millennium, Dubai is a city that has captured the imagination of the world, a place where capital, talent and opportunity come together.
The textile trade continues to be a major component of Dubai’s economy. Estimates are that the total textile trade in 2019 was nearly AED 20 billion, and the industry provides direct and indirect employment to nearly 50,000 people.
While the global Covid-19 pandemic has dampened the prospects of the industry, the long-term outlook is good. New markets in the Middle East and most of Africa hold great promise. Textiles are an essential commodity and Dubai is well positioned to serve the requirements of a region that stretches from South Africa to the CIS countries and from West Africa to Asia, a region that is home to half the world’s population.
At TEXMAS our focus has always been on the continuing health of the Dubai textile industry. The enterprise of our merchants and the unparalleled advantages that Dubai offers businesses will continue to ensure the success of our industry.