Page 350 - MOE ENGLISH PR REPORT - AUGUST 2024

8/26/24, 4:57 PM UAE non-oil foreign trade continues to set new milestones: Thani Al Zeyoudi
He said, "As a direct result of this conviction, and guided by our leadership's

forward-thinking vision and commitment to global collaboration, our non-oil

foreign trade continues to set new milestones."

Dr. Al Zeyoudi noted that the value of the UAE's non-oil trade has remained on a

robust growth trajectory, reaching an all-time high of AED1.395 trillion in the first

half of 2024 - the sixth consecutive half-year period of foreign trade growth.

This new milestone marks an 11.2 percent increase in foreign trade compared to H1

in 2023, and underscores the success of the UAE's economic diversification

strategies, he said, adding that this is best embodied by the increase of the UAE's

non-oil exports, which grew 25 percent compared to H1 2023 to reach AED256.4

billion.

Dr. Al Zeyoudi emphasised that key sectors, including gold, silver, jewellery, oils,

perfumes, aluminium, copper wires, and iron products, have led this impressive

surge in non-oil exports, demonstrating the country's enhanced global

competitiveness. "Our re-export operations also increased, highlighting our status as

a global trade hub and reflecting international confidence in the UAE as a reliable

trade partner and facilitator."

"Moreover, our performance defies the global trend of slowing trade growth, which
averaged just 1.5 percent in the first half of this year. This achievement shows the

UAE economy's resilience, which is the result of our steadfast commitment to
building strong, productive public-private partnerships as well as fostering

collaborative growth with emerging global economies," he added.

Importantly, it's clear that our Comprehensive Economic Partnership Agreement

(CEPA) programme is playing a central role in achieving these record results, Dr. Al

Zeyoudi stated. He stressed that bilateral trade with CEPA partners India and Trkiye

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