Page 35 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)
P. 35

Press Release


               China is the UAE’s number one global trading partner, accounting for more than 11 per cent of
               the country's non-oil trade. The trade volume between the two countries amounted to USD 42
               billion in the first half of 2024, up three percent compared to the corresponding period in the
               previous year.  The  total  number  of  Chinese  businesses  operating  in  the  UAE  currently totals
               15,500, spanning a range of promising economic sectors.

               H.E. added, "The  non-oil  trade between the  UAE  and  ASEAN countries has  experienced
               remarkable growth in the recent period. In the first half of 2024, the value of this trade amounted
               to approximately USD 18 billion, reflecting 5.3 per cent and 19.2 per cent growth compared to the
               corresponding periods in 2023 and 2022 respectively. The contribution of the ASEAN countries
               to the UAE's non-oil trade stands at five per cent."

               The UAE had forged comprehensive economic partnership agreements (CEPA) with two ASEAN
               members, Indonesia and Cambodia, which took effect in the beginning of 2024. Negotiations are
               currently progressing  for  the establishment of  similar  economic partnerships with Vietnam,
               Malaysia, the Philippines, and Thailand.

               During his meeting with H.E. Tianli Lan, the Governor of Guangxi Province on the sidelines of
               the Free Trade Zone Development Conference,  H.E. Al Saleh said: "The economic  and trade
               cooperation between the UAE and Guangxi has experienced significant progress in recent years,
               particularly in areas including investment, e-commerce, industry, technology, and infrastructure.
               The trade volume between Guangxi and the UAE reached approximately USD 1 billion compared
               to USD 623 million in 2022, with over 63 per cent per cent growth. Our cooperation spans key
               economic and investment sectors such as the automotive industry, construction materials, and food
               products."
                                                           -Ends-



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