Page 292 - MOE ENGLISH PR REPORT - AUGUST 2024

8/27/24, 2:55 PM UAE's non-oil foreign trade reaches record $379.81 billion in H1 2024
Dr. Al Zeyoudi noted that the UAE’s performance defied the global trend of slowing trade growth, which had
averaged just 1.5 percent in the first half of the year. He added that this achievement showed the resilience of the
UAE economy, which was the result of the country’s steadfast commitment to building strong, productive public-
private partnerships and fostering collaborative growth with emerging global economies.
The role of CEPA partnerships
Additionally, Dr. Al Zeyoudi underscored the pivotal role the Comprehensive Economic Partnership Agreement
(CEPA) program had played in attaining these unprecedented results. He stated that bilateral trade with CEPA
partners India and Türkiye had grown by 15 and 9.8 percent respectively, together accounting for 11.7 percent of
the UAE’s total foreign trade.
Dr. Al Zeyoudi expressed that as the UAE continued to expand and finalize more CEPA deals, it anticipated
further growth, steering the country toward its ambitious target of AED4 trillion in non-oil foreign trade by 2031.

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