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1/20/25, 4:48 PM Economic Integration Committee reviews its achievements, efforts in promoting national economic growth | Business | emirates7
innovative, knowledge-based economic model. This progress has created a world-class
business environment conducive to the success of enterprises, investors, and startups

from across the globe.”

He further noted that these initiatives bolstered the UAE’s economic growth and global

competitiveness. Non-oil GDP grew by 4.4% in the first half of 2024 compared to the
same period in 2023, with non-oil sectors contributing 75% of the GDP by the end of H1

2024.

Bin Touq praised the Committee’s efforts to strengthen dialogue and collaboration with

federal and local stakeholders, resulting in enhanced economic legislation aligned with
global best practices. These efforts included developing and harmonizing laws,

proposing measures for economic sustainability, and promoting national economic
sectors and activities.

The Minister reaffirmed the Committee’s commitment to advancing new economic

legislation and resolutions to position the UAE as a global leader in proactive legal

frameworks for emerging sectors. This aligns with the goals of the ‘We the UAE 2031’
vision.

The meeting also reviewed the Committee’s 2024 annual report, which outlined its role

in issuing and developing five laws and four economic policies targeting key sectors
such as cooperatives, family businesses, consumer rights, corporate governance, and

anti-money laundering.

Additionally, the Committee supported 13 initiatives in critical economic areas.

Highlights included an intellectual property (IP) initiative aimed at fostering innovation
and competitiveness in UAE products globally and measures to empower family

businesses, ensuring their growth and sustainability across generations.

Over the past year, the Committee convened seven times, established seven national
task forces to enhance economic integration, and issued 79 recommendations, over 98%

of which have been implemented. Efforts included reinforcing the UAE’s anti-money
laundering and counter-terrorism financing (AML/CFT) framework. These measures

led to the UAE’s removal from the Financial Action Task Force (FATF) grey list.

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