Page 607 - MOE ENGLISH PR REPORT - FEBRUARY 2024

Dr. Al Zeyoudi hailed these result as “particularly notable”, as they came amid a 5
precent decline in global trade in the first half of 2023, and an 8 percent fall in
exports in the third quarter.

“The continuing upward trend in the UAE's non-oil foreign trade is a clear
reflection of the national vision of a dynamic, diversified economy that is open to
the world,” he said.

Dr. Al Zeyoudi noted that through the Comprehensive Economic Partnership
Agreement (CEPA) programme, the UAE has been purposefully expanding its
network of trade partners around the world, securing stronger ties with like-

minded nations to enhance market access and deliver new opportunities for
exporters, industrialists, investors and entrepreneurs.

“Our non-oil trade with Türkiye perhaps best illustrates the impact of our CEPAs

on our trade relations," Dr. Al Zeyoudi said, adding that bilateral non-oil trade
surged 103.7 percent in 2023, the fastest growing of our top 10 trading partners,
and accounting for 5.1 percent of the UAE's total foreign trade. Notably, during
the last five months of 2023, which coincides with the implementation of the
CEPA, Türkiye received 60 percent of the UAE non-exports.

In total, the value of non-oil foreign trade with the UAE's CEPA partners, both
those implemented and those nearing conclusion, amounted to more than
AED390.5 billion – a growth of 24.5 percent compared to 2022, Dr. Al Zeyoudi
added.

The Minister of State for Foreign Trade highlighted the international confidence
in the UAE economy, noting that while the UAE's trade in non-oil goods stood at
AED2.574 trillion, a growth of 12.6 percent compared to 2022, trade in services
reached AED967 billion, another record – with AED587 billion of that services
exports.

"This is an important area of opportunity for the UAE – and one on which we will
focus in the years ahead to drive more growth," he concluded.

https://www.msn.com/en-ae/news/other/forward-looking-vision-of-wise-leadership-reflected-in-uaes-
non-oil-foreign-trade-al-zeyoudi/ar-BB1itqug