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THE ECONOMY - TRADE

UAE ranks ninth in global list of total exports and re-exports of creative goods industries

Posted on 23/03/2017

In a recent study issued by the Department of Industry and Trade Information Analysis at the Ministry of Economy, global export of creative goods grew to approximately US$538 billion in 2015, acquiring 3.3 percent of the world's total export of merchandise for the same year. In line with these findings, the UAE has been positioned in ninth place in the global list of total recorded exports and re-exports of creative goods, valued at US$16.1 billion and accounting for three percent of the ...  >>MORE

Dubai economy continues to show growing buoyancy despite challenges: Report

Posted on 22/03/2017

The Emirate of Dubai continues to show growing levels of buoyancy in different business sectors, boasting growing demand and increasing returns thanks to its highly sophisticated industrial base and rising foreign investment quotas for its property and financial markets. The impressive economic success story, according to recent business reports, is attributed to a number of factors, primarily well-thought out planning that carefully takes into consideration recovery and deceleration ...  >>MORE

Hamdan bin Mohammed: Dubai non-oil foreign trade in 2016 reaches AED1.276 trillion

Posted on 16/03/2017

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, yesterday announced that Dubai's non-oil foreign trade in 2016 reached AED1.276 trillion despite the global slowdown. Sheikh Hamdan pointed out that the value of Dubai's external trade rose 70 percent from AED754 billion in 2009 to AED1.276 trillion in 2016. Speaking on the occasion, His Highness said, "We have achieved this growth despite the world credit crunch in 2008 that ...  >>MORE

UAE sees AED128.7 billion of non-oil exports till September 2016

Posted on 14/03/2017

The value of national non-oil commodity exports in the UAE increased around AED6.9 billion during the first 9 months of 2016, totalling AED128.7 billion, an increase of 5.6 percent from the same period in 2015, which totalled AED121.8 billion, according to the results of the country's foreign trade statistics that were announced by the Federal Competitiveness and Statistics Authority. According to the result, the total value of the UAE's foreign trade during the first nine months of 2016 ...  >>MORE

Dubai Chamber highlights strong trade links with Africa at global conference in London

Posted on 14/03/2017

The Dubai Chamber of Commerce and Industry has highlighted Dubai's strong trade links with Africa at a global conference in London. The Investing in Africa conference, organised recently by the Wall Street Journal was attended by global investors, businessmen, government officials, and decision-makers. Majid Saif Al Ghurair, Chairman of Dubai Chamber, highlighted the importance of the Dubai-Africa trade relationship and shared an overview of the chamber's expansion plans and activities on the ...  >>MORE

Non-oil trade between UAE, Russia stood at US$1.6 billion in first nine months of 2016

Posted on 09/03/2017

The volume of non-oil trade between the UAE and Russia touched about US$1.6 billion during the first 9 months of 2016, compared to about $2.5 billion during the whole of 2015, according to a report released by the UAE Ministry of Economy, on reviewing the trade policies with Russia. The report also shed light on the main developments in Russia's economic sectors during the past years. It presented Russia's achievements in main economic growth indicators and the developmental steps that it ...  >>MORE

Innovation and technology feature in potential co-operation between UAE, Netherlands

Posted on 02/03/2017

AMSTERDAM: UAE Minister of Economy Sultan bin Saeed Al Mansouri and Mayor of Rotterdam Ahmed Aboutaleb have met to discuss ways of enhancing economic and trade ties and explore potential investment opportunities in areas of common interest, with a focus on innovation and technology. The UAE is interested in strengthening co-operation with the Netherlands in sectors such as innovation and technology, said Al Mansouri, who is leading a large economic delegation to the European country. ...  >>MORE

Abu Dhabi's non-oil foreign merchandise trade rose to AED 170.6 bn last year

Posted on 02/03/2017

The value of non-oil foreign merchandise trade through Abu Dhabi ports increased by 0.1 percent from AED 169.0 billion in the year to date (Jan-Dec) 2015 to AED 170.6 billion in the same period of 2016, according to figures released by Statistic Centre – Abu Dhabi (SCAD). 'This was mainly a result of a 31.7 percent increase in re-exports from AED 18.8 billion to AED 24.8 billion, while the value of non-oil exports decreased by 9.1 percent, and imports by 1.3 percent compared with the same ...  >>MORE

President of Latvia calls for boosting economic ties between UAE, Latvia

Posted on 27/02/2017

Latvian President Raimonds Vejonis, has invited Emirati investors to seize business opportunities in Latvia through establishing a new economic strategy between the business sectors of the two countries, especially in areas of tourism; trade; innovation; and the Latvian emerging enterprises. Addressing the UAE - Latvia Business Forum, organised by Dubai Chamber of Commerce and Industry, DCCI, on the sidelines of his visit to the country, President Vejonis , added his country "is a portal for ...  >>MORE

UAE, Paraguay discuss economic co-operation

Posted on 19/01/2017

Sultan bin Saeed Al Mansouri, Minister of Economy, and Gustavo Leite, Paraguay's Minister of Industry and Commerce, discussed the promotion of trade and economic ties through joint investments in areas of mutual interest. The two ministers met in Dubai, in the presence of Abdullah Al Saleh, Undersecretary in the Ministry of Economy for Foreign Trade Affairs, and Angel Barchini, Non-resident Ambassador of Paraguay, and several other officials. The two sides discussed ways to develop ...  >>MORE

UAE, New Zealand discuss ways to strengthen economic ties

Posted on 19/01/2017

Sultan bin Saeed Al Mansouri, the UAE Minister of Economy, has said that the economic relations between the UAE and New Zealand have seen continued growth and expected to develop further as the two countries are keen to strengthen co-operation in a number of sectors of common interest, prioritised in their respective development plans. The announcement came during a meeting between the UAE Minister of Economy and Todd McClay, New Zealand's Minister of Trade, and the delegation accompanying the ...  >>MORE

Dubai’s non-oil foreign trade stood at AED952 billion in first nine months of 2016

Posted on 25/12/2016

Dubai's non-oil foreign trade reached AED952 billion in first nine months of 2016. Imports had the lion's share at AED 594 billion, while exports and re-exports accounted for AED109 billion and AED 249 billion, respectively, according to official figures. Dubai saw a 11 percent surge in the total volume of traded goods in the first nine months of 2016, rising as high as 70.82 million tonnes of commodities. During the period 46.81 million tonnes of goods were imported registering an increase ...  >>MORE

Trade between Dubai and Spain reached AED3.4 bn in H1

Posted on 21/12/2016

The total trade between Dubai and Spain reached AED3.4 billion during the first half of this year, senior Dubai Customs has revealed. 'Imports, exports and re-exports stood at AED2.77 bn, AED389 million exports, and AED271 mn respectively,' said Ahmed Abdul Salam Kazim, Director of Strategy and Corporate Excellence at Dubai Customs, as he briefed a visiting Spanish delegation which included a number of businessmen, and representatives of Dubai-based Spanish companies and diplomatic missions. ...  >>MORE

UAE and China maintain growing trade, economic, investment partnership, says MoE official

Posted on 06/12/2016

The UAE and China maintain growing trade, economic and investment partnership, making China the second largest trading partner to the UAE, according to Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs, Ministry of Economy. 'This constructive partnership was clearly evident in trade figures that showed non-oil foreign trade reached US$ 48 billion in 2015. China is a major exporter to the UAE market and third of China trade to the GCC passes through the UAE logistics ...  >>MORE

UAE, Serbia seek stronger economic co-operation

Posted on 29/11/2016

Ways of expanding economic relations and co-operation in tourism, agriculture, construction and investment, and increasing trade between the UAE and Serbia were at the centre of talks held on Monday by officials from the two countries in the UAE capital. Under-Secretary for Foreign Trade and Industry at the UAE Ministry of Economy, Abdullah Al Saleh, and President of the Government of the Serbian province of Vojvodina, Igor Mirovic, underlined the importance of encouraging the private sector ...  >>MORE

Al Mansouri, Vice President of Council of Ministers of Cuba discuss economic cooperation

Posted on 24/11/2016

HAVANA: Sultan bin Saeed Al Mansouri, UAE Minister of Economy (MoE), has discussed ways to enhance economic relations and raise the level of trade and investments with Ricardo Cabrisas Ruiz, Vice President of the Council of Ministers and the Minister of Economy and Planning of Cuba. The meeting was held on Monday at the Cuban capital, Havana, as part of a visit to Cuba by a sizeable UAE delegation led by Al Mansouri and included Bader Abdullah Saeed Al Matrooshi, UAE Ambassador to the Republic ...  >>MORE

UAE keen to strengthen trade, economic, investment ties with Cuba, says Minister of Economy

Posted on 23/11/2016

HAVANA: The UAE is keen to strengthen co-operation with the Republic of Cuba in areas such as trade and economy, investment and tourism, as the bilateral economic support will significantly benefit the people of both countries, said Sultan bin Saeed Al Mansouri, the UAE Minister of Economy. "We had the pleasure of exploring Havana and seeing the rich history and diverse culture of Cuba and its efforts to preserve the national identity while adopting new forms of market mechanisms," Al Mansouri ...  >>MORE

EU among UAE's largest trading partners, says official

Posted on 06/11/2016

The European Union, EU, is among the UAE's largest trading partners where non-oil trade between the country and the regional bloc stood at more than US$65 billion in 2015, up from $10.2 in 1999, including trade via free zones, Assistant Under-Secretary for Foreign Trade Affairs at the UAE Ministry of Economy Juma Mohammed Al Kait said during the first EU-Arab World Summit, held on 3rd-4th November in Athens, Greece. Trade between the two partners exceeded AED32 billion in the first half of ...  >>MORE

Dubai Chamber briefing highlights Kazakhstan’s investment potential

Posted on 02/11/2016

The Dubai Chamber of Commerce and Industry, DCCI, in co-operation with Kazakhstan's National Agency for Export and Investment (KAZNEX INVEST) and the Embassy of the Republic of Kazakhstan to the UAE, held the Kazakhstan Export briefing here yesterday in a bid to explore potential for improving ties between Dubai and Kazakhstan across several sectors. These sectors include infrastructure and logistics, tourism, real estate, construction, food and agriculture processing. Kairat Lama Sharif, ...  >>MORE

Dubai Chamber opens first trade office in China

Posted on 30/10/2016

The first Dubai Chamber of Commerce trade office in China was opened this week. As part of its strategy to reach out to promising markets and promote Dubai as a global business and trade hub, the Dubai Chamber of Commerce and Industry opened its 7th international office in the Chinese city of Shanghai on Saturday. The opening came on the sidelines of the Chamber's participation in Dubai Week in China, a Falcon and Associates event held in Shanghai, which was co-hosted by Invest Shanghai and ...  >>MORE

Abu Dhabi's non-oil foreign trade soars to over AED84 billion in H1, 2016

Posted on 27/10/2016

Abu Dhabi's non-oil foreign trade through various customs ports was AED84.349 billion, registering an increase of AED59 million compared to the same period last year, according to the General Administration of Customs Abu Dhabi. The value of imports reached AED57.363 billion and exports reached AED17.305 billion, representing a 2.9 percent increase compared to the same period last year. The value of re-exports was AED9.681 billion, an increase of 7.5 percent. Mohammed Khadem Al Hameli, Acting ...  >>MORE

Equatorial Guinea's President calls for stronger ties with UAE

Posted on 24/10/2016

Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea, called upon Emirati investors to benefit from the various attractive investment opportunities offered by his country to overseas investors. Lauding Dubai's economic growth, Mbasogo expressed his desire to enhance bilateral ties with the emirate's businesses while assuring them of all cooperation and facilities in entering the promising markets of his country which he said can bring the two countries closer together. The ...  >>MORE

Seeking to expand investment, UAE-Greece Business Forum opens in Athens

Posted on 16/10/2016

ATHENS: The UAE-Greece Business Forum opened in Athens today, in a bid to expand opportunities, trade and investments for businesses in both countries. The Forum was co-chaired by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Giorgos Stathakis, Greek Minister of Economy. The Forum was attended by representatives from UAE and Greek government organisations, as well as members of the private sectors in both countries. The Forum, organised by the ministries of economy of the two ...  >>MORE

UAE, Bulgaria seek stronger trade, investment relations

Posted on 13/10/2016

SOFIA: Bolstering economic relations, and trade and investment between the United Arab Emirates (UAE) and Bulgaria are the focus of talks between UAE Minister of Economy Sultan bin Saeed Al Mansouri and Bulgarian Prime Minister Boyko Borisov in the Bulgarian capital. Trade between the UAE and Bulgaria stood at US$500 million in 2015, said Al Mansouri, who is leading a government delegation on an official visit to Bulgaria from 11th to 13th October. He expected economic relations to further ...  >>MORE

UAE, Antigua and Barbuda sign Investment Promotion and Protection Agreement

Posted on 13/10/2016

An Investment Promotion and Protection Agreement (FIPA) was signed between the United Arab Emirates (UAE) and Antigua and Barbuda on Wednesday. The agreement was signed during a meeting between H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, and Gaston Browne, Prime Minister of Antigua and Barbuda, where they also discussed ways of boosting bilateral ties in areas of economy and investment, and reviewed a variety of issues of ...  >>MORE

Dubai Chamber concludes visit to Ethiopia with AED184 million agreement

Posted on 10/10/2016

S.S. Lootah International has signed an AED184 million agreement with Oromia International Bank SC of Ethiopia to provide assistance in the coffee, agriculture and livestock sectors. The agreement was signed during the Dubai Chamber of Commerce and Industry-led trade mission to Addis Ababa. The agreement covers financing requirements for exports of production, export financing, warehousing and logistics for the coffee and agriculture industries, as well as livestock production. The initial ...  >>MORE

UAE largest trading partner to US in Middle East: Consul-General in New York

Posted on 09/10/2016

HARTFORD, CONNECTICUT: The UAE is the largest trading partner to the US in the Middle East region, and the state of Connecticut is integral to this economic partnership, Consul-General of the United Arab Emirates in New York has said. "In 2015, the state exported more than US$1.6 billion in merchandise to the UAE, making it the UAE's sixth largest merchandise export market in the US," he said during a visit to Hartford, Connecticut, where he met with key U.S. government and business leaders as ...  >>MORE

Dubai’s non-oil foreign trade at AED 647 billion in H1 2016: Dubai Customs

Posted on 09/10/2016

Dubai's non-oil foreign trade reached AED 647 billion from January to June 2016. Imports had the lion's share at AED 401 billion, while exports and re-exports accounted for AED 74 billion and AED 172 billion, respectively, according to official figures. Dubai also saw a 17 percent upsurge in total volume of traded goods during the first half of 2016, rising as high as 49 million tons in commodities, from 41 million tons in the same period last year. The latest trade figures released by Dubai ...  >>MORE

Ministry of Economy organises workshop on Trade Facilitation Convention of WTO

Posted on 07/09/2016

The Ministry of Economy recently organised a workshop to discuss the terms of the Trade Facilitation Convention of the World Trade Organisation, WTO, and its implementation in relation to international trade. http://www.wam.ae/en/news/economics/1395299689204.html ...  >>MORE

Dubai-UK trade at AED6.7 billion in Q1 2016: Dubai Customs

Posted on 24/08/2016

Dubai Customs is committed to reinforcing co-operation and co-ordination with the foreign diplomatic corps in order to boost Dubai's foreign trade. Living up to this strategic objective, Director of Dubai Customs Ahmed Mahboob Musabih has received officials from the British Embassy with whom he held discussions on matters of mutual interest. Attended by Faisal Issa Lutfi, CEO of Dubai Customs World and External Relations Director at Dubai Customs, the meeting aimed at exploring stronger ...  >>MORE

2nd edition of UAE India Economic Forum to take place in October

Posted on 24/08/2016

The UAE Ministry of Economy and the Consulate-General of India have announced that the second edition of the UAE India Economic Forum, UIEF, is set to take place on 19th and 20th October, at Madinat Jumeirah, Dubai. Building on the success of the event's first edition last year, the Consulate-General of India, in association with UMS Conferences, said that UIEF provides a vital platform for business leaders and government authorities to discuss key opportunities for diversifying and deepening ...  >>MORE

UAE joins Advisory Centre on WTO Law

Posted on 24/08/2016

The United Arab Emirates has become the 33rd developing country member of the WTO to join the Advisory Centre on WTO Law (ACWL) after the Federal Cabinet's approval - upon a recommendation submitted by the Ministry of Economy - of the signing of the Protocol of Accession to the Agreement Establishing the ACWL. Commenting on the country's ACWL membership, Sultan bin Saeed Al Mansouri, Minister of Economy, termed the move as an 'important step' aimed at maximising the benefits the UAE can draw ...  >>MORE

UAE’s investment in India jumps by about $1b

Posted on 15/08/2016

The UAE's investments in India have increased to nearly $1 billion (Dh3.67 billion) over the past year as bilateral trade between the two countries strengthen, Indian ambassador to the UAE T.P Seetharam told Gulf News. "The UAE, which used to be the tenth largest investor in India is now the seventh largest investor with the investments from the country going up to about one billion dollars in the last one year,” he said. The total foreign direct investment inflows from the UAE to India stood ...  >>MORE

UAE, Armenia sign agreement on promotion and protection of investments

Posted on 24/07/2016

YEREVAN, 24th July 2016 (WAM) - The United Arab Emirates and the Republic of Armenia signed in Yerevan on Friday an agreement for promotion and mutual protection of investments. The agreement was signed by Younis Haji Al Khouri, Under-secretary of the UAE's Ministry of Finance and Garegin Melkonyan, Armenian Deputy Economy Minister, in presence of Artsvik Minasyan, Armenian Economy Minister and Dr. Jassem Mohammed Al Qasimi, UAE Ambassador to Yerevan. The Armenian economy minister lauded the ...  >>MORE

UAE reiterates backing for UNCTAD's efforts to build a balanced and just economic and social system: Official

Posted on 21/07/2016

The UAE has reiterated its keen interest in supporting the United Nations Conference on Trade and Development (UNCTAD) to enhance chances for building a balanced and just economic and social system. Assistant Under-Secretary for Foreign Trade Affairs at the UAE Ministry of Economy, Juma Mohammed Al Kait, in a speech at UNCTAD's fourteenth session (UNCTAD 14), being held in Nairobi, Kenya, said that the UAE's economic strength, strategic geographical location and global trade stature are ...  >>MORE

H1 2016 sees rocketing increase of over 20 percent in membership at RAK Chamber Of Commerce

Posted on 18/07/2016

The number of new members registered with Ras al-Khaimah's Chamber of Commerce and Industry has risen during the first half of the year, with the chamber attracting 1,414 new establishments from the private sector, an increase of 20.5 percent on the same period last year. Of these, 189 were establishments affiliated with the Free Zones, while 58 were new branches of existing establishments from inside and outside the emirate. 10,423 existing members also renewed their membership during the same ...  >>MORE

Britain should negotiate Free Trade deal with UAE, says leading UK politician

Posted on 12/07/2016

LONDON: As Britain's Home Secretary (Minister of Interior) Theresa May emerges as the successor to David Cameron as the country's next Prime Minister, one of her leading supporters in Parliament has called for swift action to be taken to negotiate Free Trade Agreements with Britain's main trading partners outside the European Union, including the United Arab Emirates. May, Home Secretary since 2010, will take over from Cameron, who resigned after the British vote last month to leave the EU. ...  >>MORE

UAE's non-oil foreign trade at AED269.5bn in Q1 2016

Posted on 10/07/2016

The UAE's direct non-oil trade recorded AED 269.5 billion during the first quarter of 2016, maintaining almost the same figures achieved in Q1 last year, said the Federal Customs Authority (FCA). FCA said its preliminary statistics show that imports, AED 166.1 billion, accounted for more than half of the UAE non-oil foreign trade during Q1 this year, while exports recorded AED 46.8 billion and exports AED 56.6 billion in the same period. The FCA, in a press release, said the UAE non-oil ...  >>MORE

Dubai's non-oil foreign trade up AED319 billion in Q1 2016

Posted on 14/06/2016

Dubai registered growth worth AED319 billion in the total volume of non-oil foreign trade commodities in the first quarter of 2016. The volume of traded goods jumped by 17 percent from the same period last year to reach 24 million tonnes, according to statistical report released by Dubai Customs. It added that the growth was the result of re-export commodities' soaring 35 per cent to 4.1 million tonnes, export goods rising by 26 percent to 4.58 million tonnes, and import goods going up 11 ...  >>MORE

Report: GCC non-oil volume trade with American countries reaches US$ 41.7 billion

Posted on 14/06/2016

The volume of non-oil trade between the Gulf Cooperation Council for Arab States (GCC) and the United States (US), in the first nine months of 2015, amounted to US$41.7 billion, a rise of 2.8 percent as compared to the same period in 2014, which stood at $40.6 billion. Omani News Agency (ONA), quoting the GCC Statistical Centre (GCC Stat) in its annual report, revealed that the total value of non-oil merchandise exports of the GCC countries to the US in the first nine months of 2015 amounted ...  >>MORE

Jafza - Japan trade hits AED 2.7bn in 2015

Posted on 13/06/2016

Sultan Ahmed Bin Sulayem, CEO & Chairman of DP World and Chairman of Ports, Customs and Free Zone Corporation, has said the trade between the Jebel Ali Free Zones (JAFZA) and Japan grew 36% in the past five years to reach AED 2.7 billion in 2015. He added that Japan is a key trade partner to the Jebel Ali Free Zone (Jafza), the flagship free zone entity of Dubai and the trade and logistics hub for the wider Middle East region. In a statement, Bin Sulayem, said that Jafza has become a ...  >>MORE

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Quick List

UAE ranks ninth in global list of total exports and re-exports of creative goods industries


Dubai economy continues to show growing buoyancy despite challenges: Report


Hamdan bin Mohammed: Dubai non-oil foreign trade in 2016 reaches AED1.276 trillion


UAE sees AED128.7 billion of non-oil exports till September 2016


Dubai Chamber highlights strong trade links with Africa at global conference in London


Non-oil trade between UAE, Russia stood at US$1.6 billion in first nine months of 2016


Innovation and technology feature in potential co-operation between UAE, Netherlands


Abu Dhabi's non-oil foreign merchandise trade rose to AED 170.6 bn last year


President of Latvia calls for boosting economic ties between UAE, Latvia


UAE, Paraguay discuss economic co-operation


UAE, New Zealand discuss ways to strengthen economic ties


Dubai’s non-oil foreign trade stood at AED952 billion in first nine months of 2016


Trade between Dubai and Spain reached AED3.4 bn in H1


UAE and China maintain growing trade, economic, investment partnership, says MoE official


UAE, Serbia seek stronger economic co-operation


Al Mansouri, Vice President of Council of Ministers of Cuba discuss economic cooperation


UAE keen to strengthen trade, economic, investment ties with Cuba, says Minister of Economy


EU among UAE's largest trading partners, says official


Dubai Chamber briefing highlights Kazakhstan’s investment potential


Dubai Chamber opens first trade office in China


Abu Dhabi's non-oil foreign trade soars to over AED84 billion in H1, 2016


Equatorial Guinea's President calls for stronger ties with UAE


Seeking to expand investment, UAE-Greece Business Forum opens in Athens


UAE, Bulgaria seek stronger trade, investment relations


UAE, Antigua and Barbuda sign Investment Promotion and Protection Agreement


Dubai Chamber concludes visit to Ethiopia with AED184 million agreement


UAE largest trading partner to US in Middle East: Consul-General in New York


Dubai’s non-oil foreign trade at AED 647 billion in H1 2016: Dubai Customs


Ministry of Economy organises workshop on Trade Facilitation Convention of WTO


Dubai-UK trade at AED6.7 billion in Q1 2016: Dubai Customs


2nd edition of UAE India Economic Forum to take place in October


UAE joins Advisory Centre on WTO Law


UAE’s investment in India jumps by about $1b


UAE, Armenia sign agreement on promotion and protection of investments


UAE reiterates backing for UNCTAD's efforts to build a balanced and just economic and social system: Official


H1 2016 sees rocketing increase of over 20 percent in membership at RAK Chamber Of Commerce


Britain should negotiate Free Trade deal with UAE, says leading UK politician


UAE's non-oil foreign trade at AED269.5bn in Q1 2016


Dubai's non-oil foreign trade up AED319 billion in Q1 2016


Report: GCC non-oil volume trade with American countries reaches US$ 41.7 billion


Jafza - Japan trade hits AED 2.7bn in 2015