Thani bin Ahmed Al Zeyoudi, the Minister of Foreign Trade of the United Arab Emirates, said that he has placed foreign trade at the center of his economic agenda.
Publish dateMonday 26 August 2024 - 01:31
Al Zeyoudi noted that the value of the UAE's non-oil trade reached an all-time high of 1.395 trillion dirhams in the first half of 2024.
He said this figure represents an 11.2 percent increase in foreign trade compared to the first half of 2023 and shows the success of the UAE's economic diversification strategies. 25% compared to the first half of 2023 reached 256.4 billion dirhams.
Al Zeyoudi emphasized that key sectors such as gold, silver, jewelry, oils, perfume, aluminum, copper wires and iron products have led this significant increase in non-oil exports, which indicates the country's increased global competitiveness.
Our re-export operations also increased, highlighting our status as a global trading hub and reflecting international confidence in the UAE as a reliable trading partner and facilitator.
Moreover, our performance defies the global trend of declining trade growth, which was only 1.5% in the first half of this year.
This achievement demonstrates the resilience of the UAE economy, which is the result of our steadfast commitment to building strong and productive public-private partnerships, as well as fostering collaborative growth with emerging global economies.
Our Comprehensive Economic Partnership Agreement (CEPA) program is instrumental in achieving these record results, Al Zeyoudi stated.
He emphasized that bilateral trade with CEPA partners India and Turkey has grown by 15 and 9.8 percent, respectively, and constitutes 11.7 percent of the total foreign trade of the United Arab Emirates.
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Source : news agency wam
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