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UAE Sets New Milestones In Non-Oil Foreign Trade

Growth: Thani Al Zeyoudi

By OneArabia
Published: Sunday, August 25, 2024, 13:54 [GST]

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the UAE's focus on
foreign trade as a key element of its economic strategy. He stated that this approach is essential for
boosting industrial production, enhancing global competitiveness, and fostering innovation.

The UAE's non-oil trade has shown consistent growth, reaching AED1.395 trillion in the first half of
2024. This marks the sixth consecutive half-year period of growth in foreign trade. Dr. Al Zeyoudi
noted that this represents an 11.2 percent increase compared to the same period in 2023.

Dr. Al Zeyoudi emphasised that sectors such as gold, silver, jewellery, oils, perfumes, aluminium,
copper wires, and iron products have driven this surge in non-oil exports. These sectors highlight
the UAE's improved global competitiveness.

The UAE's re-export operations have also seen significant growth, reinforcing its status as a global
trade hub. This increase reflects international confidence in the UAE as a reliable trade partner and
facilitator.

https://www.onearabia.me/business/uae-non-oil-foreign-trade-hits-record-high-011-62909.html