Dubai - Mubasher: Dubai Airport Free Zone Authority (Dafza) announced that it has signed a Memorandum of Understanding (MoU) with the Arab Union for Electronic Commerce, according to a press release.

The agreement aims at exchanging knowledge and expertise in digital economy fields through the participation in the preparation of joint studies and reports related to the e-commerce market in the Arab world.

The MoU also eases cooperating with Arab governments to develop legislation and laws facilitating the practice of e-commerce, especially through free zones.

As per the statement, e-commerce in Dubai is expected to grow by 10% in the next five years, with the electronic retail sector forecasted for a compound annual growth rate (CAGR) of 24% to a total of AED 14.1 billion by the year 2021.