Page 101 - ETIHAD CREDIT INSURANCE PR REPORT - AUGUST 2024

The transportation and storage sector experienced a notable 78% increase between January and
May 2024 compared to the same timeframe in 2023. This sectoral growth reflects broader
economic trends within Abu Dhabi.
By the end of 2023, the total value of the UAE's non-oil foreign trade with countries having
Comprehensive Economic Partnership Agreements (CEPA) surpassed AED390 billion. These
agreements have played a crucial role in driving economic growth and expanding market access for
Emirati businesses.

Diverse Export Destinations
The paper highlighted that non-oil goods from the UAE are now exported to a diverse range of global
destinations. Asia emerged as the leading export destination, followed by the European Union and
North America.

Other significant regions include the European Free Trade Association (EFTA) and Africa. There has
also been notable growth in exports to South America, Eastern Europe, Oceania, and Central
America.

Comprehensive Economic Partnership Agreements

As of July 2024, the UAE has signed 12 CEPAs with various countries at both regional and global
levels. Discussions are ongoing to establish new agreements with promising markets.

The CEPAs have significantly contributed to economic growth by enhancing access to new foreign
markets for Emirati businessmen. They have also expanded Abu Dhabi's export portfolio and
facilitated entry into major markets such as India, Indonesia, Turkey, Korea, and Malaysia.

This includes a variety of products such as electronic equipment, machinery, metals, medicine,
vegetable oils, among others.

The patterns of exporting non-oil goods from the UAE now encompass a diverse global scope. The
study observed that Asia is currently leading as an export destination for these goods.
This comprehensive analysis reflects Abu Dhabi's efforts to boost its trade footprint globally while
supporting local commercial activities through strategic partnerships and agreements.

https://www.onearabia.me/business/abu-dhabi-chamber-sees-growth-in-export-certificates-011-
61857.html