Page 620 - MOE ENGLISH PR REPORT - FEBRUARY 2024
P. 620
2/22/24, 5:19 PM Forward-looking vision of wise leadership reflected in UAE's non-oil foreign trade: Al Zeyoudi - www.lokmattimes.com
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 Turkiye perhaps best illustrates the impact of our CEPAs
on our trade relations," Al Zeyoudi said, adding that bilateral non-oil trade surged
103.7 per cent in 2023, the fastest growing of our top 10 trading partners, and
accounting for 5.1 per cent of the UAE's total foreign trade. Notably, during the last
five months of 2023, which coincides with the implementation of the CEPA,
Turkiye received 60 per cent 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 per cent compared to 2022, 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 per cent compared to 2022, trade in services
reached AED967 billion, another record - with AED587 billion of that services
exports.
https://www.lokmattimes.com/international/forward-looking-vision-of-wise-leadership-reflected-in-uaes-non-oil-foreign-trade-al-zeyoudi/ 3/4