Sharjah's foreign trade saw record growth in 2007, reporting a growth rate of 47.5 percent over the previous year, amounting to AED43.5 billion in revenues - a significant increase in the average annual growth reported between 2003 and 2006. The Sharjah Economic Development Department (SEDD) attributes this impressive growth to the increased revenues resulting from import and re-export activity. Import revenues jumped 41.3 percent to AED26.7 billion in 2007, up from AED16.8 billion in 2005 and AED18.9 billion in 2006. Meanwhile, transit and re-export trade revenues have grown by a substantial 62.7 percent to reach AED16.6 billion in 2007, up from AED10.2 billion in 2006. Ali Bin Salem Al-Mahmoud, general manager of the Sharjah Economic Development Department, said “this unprecedented growth in foreign trade reflects the dynamic development policy adopted by the emirate and the effective controls implemented by government departments, cultivating a favorable climate for trade growth, which is vital aspect of our overall economic development. "This record growth is an embodiment of the increasingly prominent role played by Sharjah in the region and beyond. Revenues from trade with other GCC countries have grown by 84.6 percent, from AED2.6 billion in 2006 to AED4.8 billion in 2007.” He attributed these record growth figures to the 83.3 percent increase of revenues from re-export and transient trade, from AED2.4 billion in 2006 to AED4.4 billion in 2007. He stated that the current growth resulted in a trade surplus of AED4.1 billion in the GCC in 2007, while trade exchange with other Arab countries has grown from AED3 billion in 2006 to AED3.7 billion in 2007, amounting to total growth of 23.3 percent and a trade surplus of AED3.1 billion in the greater Arab region in 2007. India has proved to be the emirate's major trade partner with revenue of AED7.3 billion over the last year, followed by Japan and China with AED3.5 and AED2.3, respectively. Sharjah's major trade partner in re-export trade in 2007 was Iran, with AED3.6 billion, followed by Iraq with AED2.1 billion, and Saudi Arabia, Kuwait, Bahrain and Oman. Goods re-exported to Saudi Arabia were valued at AED1.2 billion, to Kuwait at AED751 million, to Bahrain at AED719 million and to Oman at AED686 million. Meanwihle, the Sharjah Economic Development Department (SEDD) recently held a meeting with the Sharjah Chamber of Commerce and Industry SCCI at its headquarters to facilitate customer procedures and upgrade the level of services delivered to the public. __
