Dubai and DP World’s Growing Role in International Trade
Dubai has always been an important constituent of the United Arab Emirates and even what was formerly known as the Trucial States in the 1890’s, which referred to the Sheikhdoms along the Coast of the GCC States lining the Arabian Sea. Dubai has always been an important trade hub. In the early 1900s, the city became the main port of the Trucial states with the British-India Steam Navigation Company starting regular service to Dubai.
The 1970s is when trade completely changed for the UAE with the inauguration of Port Rashid in 1972, followed by the inauguration of Jebel Ali port in 1979. Prior to 1970, the total trade in UAE (imports and exports) was less than US$ 1 billion each year and only from 1971 onwards, did the total trade cross US$ 1 billion. By 1980, trade had ballooned to over $30 billion, by 2000 that figure