The Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, confirmed the continuation of work to increase the number of comprehensive economic partnership agreements for the UAE during the year 2025, to include more countries and economies in order to achieve common benefits for the state and its partners around the world, and enhance the paths of free, rules-based international trade. It accelerates access to sustainable development, in addition to encouraging more investments and expanding the horizons of trade exchange of goods and services and re-export opportunities.
Al-Zeyoudi said in statements to the Emirates News Agency, WAM, that the UAE’s Comprehensive Economic Partnership Agreements Program aims to expand the country’s network of trade and investment partners around the world, which strengthens the UAE’s position as a gateway to facilitating trade flows of non-oil goods and services across the world, and an international center for business and investment. .
He added, “These agreements reflect the vision of the state, which is fully aware of the importance of rules-based free trade in achieving sustainable economic growth and comprehensive development. Its diversity and ability to sign qualitative partnerships with vital economies on five continents multiplies opportunities and opens wider spaces around the world and in its markets for economic sectors.” Emirati.
Al-Zeyoudi stated that the positive impact of signing the Comprehensive Economic Partnership Agreements is reflected in the various foreign trade sectors in the country, and among the most prominent of those sectors benefiting from the agreements is the country’s non-oil foreign trade, in addition to re-export services “sectors of logistics services, clean and renewable energy, and technology products, solutions, and applications.” financial services, green industries, advanced materials, agriculture, and sustainable food systems.”
He explained that the comprehensive economic partnership agreements continue to achieve a tangible and direct qualitative impact on the country’s foreign trade data, which reflects positively on various vital sectors, including the advanced technology sector.
Al-Zeyoudi said that the advanced technology sector in the country benefits from the program of these agreements, with the strategic partnerships and constructive cooperation it achieves in this vital sector for the economies of the future, and because the strategic program has a role in enhancing access to global markets, reducing or eliminating customs duties, facilitating customs procedures, and providing rules. Clear and transparent, promoting competition based on fair trade.
Since its launch in September 2021 until the beginning of December 2024, the Comprehensive Economic Partnership Agreements program witnessed the UAE signing 24 comprehensive economic partnership agreements with countries and international blocs of strategic importance regionally and globally on the map of international trade, in which about 2.5 billion people live, or a quarter. World population.
During the year 2024, the UAE’s foreign trade continued its distinguished upward performance thanks to a clear strategic vision based on strengthening cooperation and partnerships with various economies of the world, in addition to having a confident and ambitious vision, which is the “We are the Emirates 2031” vision, which directs the drive to reach the value of non-oil foreign trade in goods for the country. To four trillion dirhams, and charts a path to increase UAE exports of non-oil goods to 800 billion dirhams by 2031.
The UAE’s foreign trade achieved an unprecedented historical figure in the first half of 2024, as its value exceeded 1.395 trillion dirhams, with a growth of 11.2% compared to the same period in 2023, and recorded increases of 28.8%, 54.7%, and 66% compared to the same period in 2023. The years 2022, 2021 and 2019, respectively.
The Comprehensive Economic Partnership Agreements Program contributed to accelerating this upward path and more than halfway towards achieving the foreign trade targets in the “We Are the Emirates 2031” vision, as merchandise trade reached 2.6 trillion dirhams by the end of 2023, even eight years before the date set for achieving the target of four. Trillions of dirhams.
. 1.395 trillion dirhams in the UAE’s foreign trade in the first half of 2024, which is an unprecedented historical figure.
. Since its launch in September 2021 until December 2024, the Partnership Agreements Program witnessed the signing of 24 economic partnership agreements with countries and international blocs.
Follow our latest local and sports news and the latest political and economic developments via Google news
