Page 370 - MOET ENGLISH PR REPORT - AUGUST 2025

The UAE’s global trade ambitions are supercharged by its pursuit of 27 Comprehensive Economic
Partnership Agreements (CEPAs). Non-oil trade surpassed Dh3 trillion in 2024, a historic milestone.
“CEPAs are unlocking new markets and enhancing trade efficiency,” said Kristalina Georgieva, IMF
managing director, in a recent statement praising the UAE’s global integration. These agreements
have bolstered trade with partners like India, Turkey, and Indonesia, with non-oil exports to these
markets growing by double digits in 2024.

Global rankings reflect the UAE’s economic prowess. The 2024 World Competitiveness Report
ranked the UAE 7th globally, ahead of Japan and Canada, excelling in employment, internet
penetration, and dispute resolution. The Soft Power Index placed it 10th worldwide, while Numbeo
and Gitnux reports consistently name it among the safest countries. Henley & Partners projects the
UAE will attract 6,700 millionaires in 2024, the highest globally, driven by tax incentives, safety, and
world-class infrastructure. “The UAE’s lifestyle and business environment are unmatched,” said
Dominic Volek, Group Head of Private Clients at Henley.
The UAE’s commitment to sustainability, amplified by its COP28 hosting, has further elevated its
global standing. Adnoc’s $23 billion decarbonisation roadmap and Dubai’s $8.2 trillion D33
economic plan underscore a future-focused approach. “The UAE is not just adapting to global
trends—it’s shaping them,” said Fatih Birol, executive director of the International Energy Agency,
commending the UAE’s clean energy initiatives.

Sectoral growth in 2024 paints a vibrant picture. Transport and logistics expanded by 9.6 per cent,
driven by a 10 per cent increase in air passenger traffic to 147.8 million. Construction grew 8.4 per
cent, fuelled by mega-projects like Dubai’s Palm Jebel Ali and Abu Dhabi’s infrastructure
developments. The financial and insurance sector rose 7 per cent, supported by strong bank
performance and capital inflows. Hospitality and food services grew 5.7 per cent, reflecting robust
tourist demand.
Hanan Mansour Ahli, managing director of the FCSC, stated the 2024 figures showcase the UAE’s
ability to balance growth with sustainability, ensuring long-term prosperity.

The “We the UAE 2031” vision provides a clear roadmap, targeting top 10 global rankings in human
development, food security, and quality of life, while aiming to be the safest country and a leader in
AI and clean energy. The Ministry of Finance’s e-invoicing regime, leveraging the Peppol-based
system, enhances VAT compliance and modernises the business environment. The “US-UAE AI
Acceleration” framework, announced during President Trump’s 2025 visit, fosters collaboration in
AI, cybersecurity, and digital innovation, further strengthening the tech sector.

The CBUAE emphasises macroeconomic stability, with steady monetary policies and robust foreign
direct investment (FDI) inflows supporting a 5.4 per cent non-oil GDP growth in 2025. “The UAE’s
diversified model, backed by sovereign wealth funds and fiscal discipline, ensures resilience
against global risks,” said CBUAE Governor Khaled Mohamed Balama. With inflation projected to
remain below 2 per cent, according to the IMF, the UAE is well-positioned to navigate global
economic challenges.

The UAE’s economic narrative is one of ambition and achievement. By fostering innovation,
embracing global partnerships, and prioritising sustainability, the country is not only growing but

https://www.khaleejtimes.com/business-technology-review/towards-a-vision-powered-future-
uae-drives-growth-with-reforms-innovation-and-investment