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THE ECONOMY - TRADE

UAE-South Korea bilateral trade at US$22 billion

Posted on 04/03/2013

The UAE-South Korea bilateral trade amounted US$22 billion and business relations between the two countries are poised for further growth, according to Fahad Al Gergawi, COE of Foreign Direct Investment Office (FDI) in Dubai. He said this at a press conference here to announce the third UAE-Korea Economic Partnership Forum to be held in Seoul between May 27-28, 2013 with the aim of boosting economic ties and attract more investments opportunities between the two countries. Out of 200 ...  >>MORE

UAE-Turkey trade exchange stood at Dh 33.3 billion in first eight months of 2012

Posted on 03/03/2013

Trade exchange between the UAE and Turkey reached Dh 33.3 billion in the first eight months of 2012 driven primarily by record growth of UAE's non-oil exports to Dh 8.5 billion, which was three-fold the UAE's exports to Turkey in 2011, according to a study released by the Ministry of Foreign Trade. 'UAE's re-exports hit a record high at Dh 1.2 billion while imports stood at Dh 23.6 billion. UAE's trade with Turkey constituted 4.9% of the total UAE's non-oil trade in the January-August period ...  >>MORE

Lubna reviews foreign trade challenges

Posted on 27/02/2013

Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade, emphasised the importance of forging strong bonds between the public and private sectors, stating that the two sectors have jointly achieved huge success in the economic growth of the country. 'Now, with the changing times, the two sectors can achieve higher success by maintaining economic and commercial vibrancy, she said. Al Qasimi was speaking to Dubai businessmen and representatives from the private sector during the Dubai Chamber ...  >>MORE

Dh4.7 billion value of UAE - Indonesian trade during first 8 months of 2012

Posted on 25/02/2013

Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has yesterday met in Sharjah with Mary Alka Banjisto, Indonesian Minister of Tourism and Economy, where both Ministers are taking part in the 2nd Government Communication Forum (GCF 2013), which was launched yesterday in the Emirate. Both parties discussed boosting cooperation and joint interests between the two countries. During the meeting, Sheikha Lubna underlined the importance of strengthening investment channels, ...  >>MORE

Abu Dhabi hosts UAE-Russian joint Committee meetings

Posted on 18/02/2013

The third meeting of the UAE- Russian Joint Committee began here yesterday at the Ministry of Foreign Affairs. H. H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister and the Russian Minister of Industry and Trade Denis Valentinovich respectively headed their sides. The preparatory meeting, which was held yesterday, gathered the UAE and Russian officials. The UAE side was chaired by Ambassador Khalid Ghanem Al Ghaith, Assistant Foreign Minister for Economic Affairs, while the Russian ...  >>MORE

Dubai-Brazil trade volume at Dh6 billion

Posted on 17/02/2013

Ahmed Butti Ahmed, executive chairman of Ports, Customs and Free Zone and director-general of Dubai Customs, had discussions with a Brazilian trade delegation regarding boosting cooperation ties between Dubai and Brazil. Overall trade between Dubai and Brazil amounted to Dh6 billion between January to October 2012, representing 37 per cent of Dubai trade with Latin American countries. The delegation, accompanied by Brazilian Ambassador to the UAE Jose de Mendonca Lima Neto, included Wilson ...  >>MORE

UAE - Italy trade reaches Dh18.475b in first 8 months in 2012

Posted on 17/02/2013

Total trade exchange between the UAE and Italy has reached around Dh 18.475 billion during the first eight months of 2012 - with the UAE being the 4th largest exporter of Aluminium to Italy - according to a study released yesterday by the Ministry of Foreign Trade (MoFT). Trade between the two countries witnessed steady growth with UAE non-oil exports to Italy increasing by 78 percent (Dh 1.83 billion) from 2010 - 2011, re-exports increase by 23 percent (Dh 827 million) and imports increasing ...  >>MORE

Sharjah prepares for major “World Trade Week”

Posted on 13/02/2013

The Sharjah Chamber of Commerce and Industry (SCCI) is involved in many initiatives to promote the investment opportunities in the emirate and in the UAE in general, said a top government official. The Chamber on Tuesday made an announcement of a new initiative titled "World Trade Week” which is expected to be an ideal platform for the UAE's economical growth, and to further enhance investments in Sharjah. Speaking to journalists at the Chamber headquarters, during the launch of the ...  >>MORE

US Ambassador: UAE is US's largest Arab, Mid East trading partner

Posted on 12/02/2013

U.S. Ambassador to the UAE Michael H. Corbin, said the UAE is the United States' largest trading partner among Arab and Middle East countries. "In fact, the USA's exports to UAE reached US$22.5 billion in 2012, a 40 percent increase from 2011. Trade between the USA and UAE is even larger than our export relationship with India." In remarks during a visit to the Abu Dhabi Customs Institute where he met with Hamad Al Hurr Al Suwaidi, Chairman of Abu Dhabi Department of Finance (DoF), the US ...  >>MORE

Shurooq discusses future collaboration with US Regional Trade Centre

Posted on 12/02/2013

The Sharjah Investment and Development Authority (Shurooq) welcomed a delegation from the Sharjah-based US Regional Trade Centre (USARTC), to explore future collaboration between the two sides. The USARTC delegation included its CEO J.S. Solaiman, the Vice President Alia Karmeh, and Dawn Warner, National Sales Director at USART, and Kim Childs. Sharjah Investment and Development Authority (Shurooq) was represented by its CEO Marwan bin Jassim Al Sarkal, Ahmed Obaid Al Qaseer, Shurooq COO, ...  >>MORE

Dubai Chamber signs MoU with PAIiIZ

Posted on 12/02/2013

The Dubai Chamber of Commerce and Industry (DCCI) signed a Memorandum of Understanding (MoU) with the Polish Information and Foreign Investment Agency (PAIiIZ) to enhance two-way trade and investment between Poland and Dubai. The agreement was signed on the sidelines of the Poland-UAE Investment Forum held at Hyatt Hotel in Warsaw. Hamad Buamim, Director General, DCCI, signed the MoU along with Slawomir Majman, President, Polish Information and Foreign Investment Agency, in the presence of ...  >>MORE

UAE ranked 3rd globally in the re-export of plastics

Posted on 10/02/2013

An analytical study released by the Ministry of Foreign Trade yesterday has revealed that UAE exports of plastics grew by 127 percent (US$ 2.2 billion) from H1 2011 to H1 2012 - a figure that is 8 times larger than the growth rate achieved during the whole of 2011. The study added that the UAE's foreign trade of plastics grew by 48 percent in the first six months of 2012 in comparison with the same period in 2011, increasing from US$ 2.9 billion to US$ 4.4 billion respectively - with plastics ...  >>MORE

UAE and Poland to strengthen bilateral trade

Posted on 10/02/2013

The UAE and Poland have agreed to undertake all possible measures to further promote bilateral trade and develop economic relations as the first meeting of the UAE-Poland Joint Commission for Economic Cooperation began in Warsaw on February 6. The meeting, co-chaired by Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Janusz Piechocinski, Poland's Deputy Prime Minister and Minister of Economy, decided to strengthen mutual ties through coordinated efforts such as enhanced participation ...  >>MORE

US exports to UAE rise above US$22bn mark

Posted on 10/02/2013

Exports of American goods to the UAE soared in value to a record US$22.5 billion (Dh82.64bn) last year, an increase of almost 30 per cent on 2011. The data were revealed yesterday in a report published by the US census bureau. Details of what accounted for the big rise was not divulged, however, but in previous years big-ticket items such as airliners manufactured by Boeing in Seattle, defence equipment and infrastructure-related products have made up the lion's share of goods. The value of ...  >>MORE

UAE non-oil trade grows to Dh678 b in 8 months

Posted on 06/02/2013

The foreign non-oil trade of the United Arab Emirates (UAE) maintained its positive growth during the period from January to August 2012 compared to the same period in the last year. The preliminary statistics of the Federal Customs Authority (FCA) showed higher foreign non-oil trade at 12% in January- August 2012. The total foreign trade climbed by Dh 70 billion to Dh 678 billion compared to 608 billion during the same period in the last year. The data of the UAE foreign non-oil trade ...  >>MORE

UAE and Japan trade reaches Dh194.95 billion last year

Posted on 05/02/2013

The total trade exchange between the UAE and Japan reached around US$53.12 billion (Dh194.95 billion) in 2012, up by 6 per cent over 2011 in which trade between the two countries touched around US$50.16 billion (Dh184.1 billion). According to Japan External Trade Organization (JETRO), the UAE's exports to Japan grew by nearly 3 per cent to US$44.13 billion (Dh161.96 billion) last year compared to US$42.72 billion (Dh156.78 billion) in 2011. In contrast, the UAE's imports from Japan grew by 21 ...  >>MORE

ADDED and German e-Government solutions provider sign strategic partner agreement

Posted on 04/02/2013

Berlin: German e-Government solutions provider, ]init[ Digital Communication and the Abu Dhabi Department of Economic Development signed a strategic partner agreement to develop IT architecture for new one-stop-shop business centre. Ghanem AL Mazrouei, Executive Director of Support Services of the Abu Dhabi Department of Economic Development, and Harald Felling, Executive Director and CSO of ]init[ Digital Communication, signed the agreement in the presence of Nasser Alsowaidi, Chairman of ...  >>MORE

UAE and Kyrgyzstan discuss stronger trade relations

Posted on 04/02/2013

Ways to promote trade relations and increase exchange between Kyrgyzstan were discussed by minister of foreign trade, Sheikha Lubna Al-Qasimi, and the visiting first deputy prime minister of Kyrgyzstan, Joomart Otorbaev. The meeting also discussed opportunities to launch joint investments in different sectors in both the two countries as well as barriers to Kyrgyz investments in the UAE to fully tap the potentials and opportunities of both economies. In remarks at the meeting, Sheikha Lubna ...  >>MORE

UAE-Colombia trade at Dh107m in H1

Posted on 02/02/2013

The trade volume between the UAE and Colombia reached around Dh184 million in 2011, while the trade stood at Dh107 million in the first half of 2012. Juma Al Kait, Assistant Undersecretary for Foreign Trade Affairs at the Ministry of Foreign Trade, has met at the Ministry's Abu Dhabi Headquarters with a Colombian delegation that visited the UAE to take part in the Arab Health Exhibition and Congress 2013, which was held in Dubai from 28th 31st January 2013. The delegation members, who ...  >>MORE

UAE is interested to expand trade and investment exchange with Kosovo: Lubna

Posted on 31/01/2013

The UAE is interested in expanding its trade and economic cooperation with Kosovo and exploring potential investment opportunities for the benefit of business communities in both countries, Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, said yesterday. At a meeting with visiting First Deputy Prime Minister of Kosovo Behgjet Pacolli, Sheikh Lubna stressed the importance of increasing trade exchange between the UAE and Kosovo and other East European countries which are ...  >>MORE

UAE non-oil trade collects Dhs594bn; grows at 12%, says FCA

Posted on 30/01/2013

The foreign non-oil trade of the United Arab Emirates (UAE) maintained its positive growth rates during the period from January to July 2012 compared to the same period in the last year. The preliminary statistics of the Federal Customs Authority (FCA) showed higher foreign non-oil trade at 12% in January- July 2012. The total foreign trade climbed by Dhs62.8bn to Dhs593.8bn compared to 531 billion during the same period in the last year. The data of the UAE foreign non-oil trade reflected ...  >>MORE

India remains UAE’s top trade partner: Minister

Posted on 27/01/2013

India has remained the largest commercial partner of the UAE, accounting for more than 21 per cent of the country's total trade in 2011, the UAE Minister of Foreign Trade was reported on Sunday as saying. Sheikha Lubna bin Khaled Al Qasimi said bilateral trade between the UAE and India hit an all time high of around Dh194.1 billion in 2011, a whopping 23 times its level of Dh8.5 billion in 1999. India's exports accounted for more than half the exchange. Quoted by the semi official daily Al ...  >>MORE

UAE, Turkey trade grows by 197% in H1 of 2012

Posted on 27/01/2013

The UAE- Turkish trade grew by 197 per cent during the first half of 2012, an official of the Ministry of Foreign Trade has revealed. The Ministry stressed the importance of boosting the trade and investment ties between the UAE and Turkey in the light of strong relations and open communication channels between the two countries. Abdul Salam Al Ali, Director of the Department of Foreign Trade Policies at the ministry said at the workshop held to promote the UAE investments in Turkey that the ...  >>MORE

Dubai, Jeddah chamber to consolidate ties

Posted on 27/01/2013

Dubai Chamber of Commerce and Industry (DCCI) received a high profile Saudi delegation headed by Adnan H Mandourah, Secretary General, Jeddah Chamber of Commerce and Industry, at the Chamber premises recently. The delegation visit came in line with both the prominent GCC chambers' efforts to take their bilateral ties to a higher level as well as to exchange expertise and work jointly in mutual areas of interest. Hamad Buamim, Director General, Dubai Chamber, who received the delegation, ...  >>MORE

UAE- UK trade ties strengthened through Memorandum between Commercial Courts

Posted on 26/01/2013

Legal and trade relations between Dubai and the UK will be strengthened through a Memorandum of Guidance (MoG) signed in London on 23 January between the Dubai s International Centre (DIFC) Courts the leading English language commercial court in the Middle East and the Commercial Court of England and Wales, the world s leading Commercial Court. Dubai is now widely recognised as the investment and business hub of the Middle East. The Memorandum of Guidance is designed to assist investors, ...  >>MORE

DCCI's exports to GCC countries grew by 51 per cent in 2012

Posted on 21/01/2013

Value of exports of 11,110 of Dubai Chamber members to 210 destinations in 2012, based on a data of the Certificates of Origin (COs) issued during the year, reached a record high of Dh 268 billion with a year-on-year growth of 9 per cent, revealed a recently-released Dubai Chamber of Commerce and Industry analysis. According to the report, the value exceeded by 26 per cent to the pre-crisis level of Dh 213 billion in 2008 while export/re-export value rose from only Dh23 billion in 1996 to more ...  >>MORE

Dubai Exports facilitates Dh5 billion worth of exports, sees 119 per cent rise in deals in 2012

Posted on 20/01/2013

Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, has closed a highly successful year, facilitating Dh5 billion worth of exports through local firms and factories in 2012, as against three billion dirhams in 2011. The networking and matchmaking opportunities as well as support services provided by Dubai Exports to boost exports and re-exports through Dubai also led to 92 deals being concluded in 2012, an increase of 119 per cent over what was ...  >>MORE

UAE and France to raise trade exchange by 50% in next five years

Posted on 16/01/2013

The UAE and France expressed yesterday their commitment to raise trade exchange by 50% in the coming five years, double tourist flow between the two countries and launch joint development projects in other countries. A presidential statement issued here yesterday at the end of the visit of French President Francois Hollande to the UAE said President His Highness Sheikh Khalifa bin Zayed Al Nahyan received on 15 January 2013 French President Francois Hollande, on his first trip to the UAE. The ...  >>MORE

Dubai sees 9% growth in exports

Posted on 16/01/2013

The total value of export and re-export by Dubai Chamber of Commerce and Industry members reached Dh268 billion in 2012, Hamad Bu Amim, Director General of Dubai Chamber, said yesterday. The chamber's annual report shows that the value of exports and re-exports rose 9 per cent from 2011, when it was valued at Dh246 billion. ”Our annual figures show that 2012 was a very successful year as our members achieved unprecedented monthly export figures,” Bu Amin said. "Trade, along with tourism, ...  >>MORE

Abu Dhabi boosts economic cooperation with Japan

Posted on 16/01/2013

Mohammed Omar Abdullah, Undersecretary of Abu Dhabi Department of Economic Development, has hailed the economic relations between Abu Dhabi and Japan as strategic, firm and deep. These ties are further strengthened by the growing political relations, between the leaders and governments of the two countries, built on the common desire to boost ties, increase investments and facilitate joint business and support private sector initiatives in both sides. He stressed this during his meeting with ...  >>MORE

SCAD: Non-oil merchandise trade through the ports of Abu Dhabi stood at Dh11.8 billion in September 2012

Posted on 07/01/2013

The total value of Abu Dhabi's non-oil merchandise trade in September 2012 was Dh 11,793 million, of which Dh 9,242 million (78.4 per cent of total) was imports, Dh 1,242 million (10.5 per cent of total) was non-oil exports of and Dh 1,309 million (11.1 per cent of total) was re-exports, according to Statistics Centre - Abu Dhabi (SCAD) monthly report on non-oil merchandise trade through the ports of the Emirate of Abu for the month of September 2012. 'Total non-oil merchandise trade dropped ...  >>MORE

UAE remains top Mideast market for Japan

Posted on 03/01/2013

The UAE maintained its position as the largest Middle East market for Japanese products in the first 10 months of 2012 while it was the second regional exporter to the Southeast Asian giant, according to official data. The figures by the government's Japanese External Trade Organisation (Jetro) showed exports to Japan by the six-nation Gulf Cooperation Council (GCC) surged by nearly 13.7 per cent during that period because of strong oil prices. From around US$6 billion in the first 10 months ...  >>MORE

Abu Dhabi's foreign trade up 37.6% in 2011 to Dh 532.9 billion

Posted on 01/01/2013

The value of foreign trade of the Emirate of Abu Dhabi increased by 37.6% in 2011 to mark Dh 532.9 billion, as a result of the hike in exports by 38.5%, and imports by 34.4%.The total trade accounted for 66% of the GDP of the emirate in 2011. Foreign trade is one of the most important tributaries of economic development in the Emirate of Abu Dhabi, in addition to its role in securing local market needs of different commodities. Exporting process of surplus local goods and commodities to ...  >>MORE

UAE trade to reach Dh3.60tr in 2012

Posted on 30/12/2012

The UAE non-oil Foreign Trade witnessed a tangible improvement during 2012. It is expected to grow by 15 per cent amounting to Dh3.60 trillion according to year-end results, Abdul Rahman Al Saleh, Undersecretary of the Ministry of Foreign Trade, told Gulf News. "The total value of UAE's non-oil foreign trade in the first half of 2012 touched Dh718.4 billion compared to Dh646.6 billion for the same period in 2011, recording an increase by Dh71.7 billion, up by 11.1 per cent,” he said. However, ...  >>MORE

UAE, Hong Kong trade to grow over 30%

Posted on 30/12/2012

Perry Fung, Regional Director, Middle East & Africa, Hong Kong Trade Development Council (HKTDC), recently visited Jebel Ali Free Zone (Jafza) to explore possibilities to further strengthen trade ties between Hong Kong and the UAE through the Free Zone. HKTDC Regional Chief was received by Ibrahim Mohamed Al Janahi, Deputy CEO, Jafza, at the Free Zone. Al Janahi, welcoming the Trade Development Council Chief also emphasised on the closer co-operation between the two sides. He briefed visiting ...  >>MORE

Dubai Trade pledges support for UAE's bid to host 2020 World Expo in Dubai

Posted on 27/12/2012

In a major show of support, Dubai Trade, the premier trade facilitator under Dubai world, yesterday announced its official support for UAE's bid to host the 2020 World Expo in Dubai. The organisation will seek to raise awareness of the country's Expo bid by engaging internal and external stakeholders through an ongoing series of outreach initiatives across its many touch points. World Expos - one of the oldest and largest international events - take place every five years and last for six ...  >>MORE

Dubai needs creative trade initiatives to usher into new markets: Maktoum

Posted on 25/12/2012

Dubai needs creative and effective initiatives to expand prospects of Dubai's foreign trade exchange and to explore more promising opportunities to help Dubai penetrate into new markets and broaden its base of trade partners, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of Dubai Executive Council, affirmed. Presiding over the Council meeting, Sheikh Maktoum urged the council members to live up to the vision of Vice President and Prime Minister of ...  >>MORE

Lubna, Russian officials discuss stronger trade relations

Posted on 23/12/2012

Minister of Foreign Trade, Sheikha Lubna bint Khalid Al Qasimi, recently discussed with a Russian delegation of officials and businessmen ways to further promote cooperation between the two countries and to boost the role of joint investments and projects in increasing trade exchange. Sheikha Lubna said: "the discussions held over the past few days resulted in achieving a lot with regards to GCC - Russian relations, pointing out that the UAE appreciates the enthusiasm expressed by the Russian ...  >>MORE

Al Mansouri chairs UAE-Azeri Joint Economic Committee meeting

Posted on 19/12/2012

The fourth meeting of the UAE-Azerbaijan Joint Economic Committee held yesterday in Dubai was inaugurated by the UAE Minister of Economy, Sultan Bin Saeed Al Mansouri, and Minister of Economic Development of Azerbaijan, Shahin Mustafayev, in the presence of senior officials from both countries. The meeting discussed the current economic situation in the two countries and the potential for expanding their standing trade and economic relations. Al Mansouri and Mustafayev signed the closing ...  >>MORE

Dubai, Ecuador to boost bilateral trade

Posted on 19/12/2012

Dubai and Ecuador have decided to work closely to boost bilateral trade and enable businesses on both sides to leverage existing and potential opportunities. The Department of Economic Development (DED) in Dubai has also supported PRO ECUADOR, the overseas Trade and Investment promotion organisation of Ecuador, in opening its UAE office in Dubai. Director General of DED, Sami Al Qamzi, and Ecuador's Ambassador to Qatar, Kabalan Abisaab, recently held a meeting to discuss means to promote ...  >>MORE

Dubai's ten-month total foreign trade exceeds Dh 1trillion for the first time

Posted on 13/12/2012

Dubai's total non-oil foreign trade within 10 months rose to record Dh1 trillion (trillion and 29 billion dirhams) for the first time in its history, during the period between January and October 2012, compared to Dh911 billion in 2011 in the same period with a growth of 13pc. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone and Director General of Dubai Customs said this value of the non-oil trade includes the direct trade, free zones trade and warehouse customs trade. ...  >>MORE

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Quick List

UAE-South Korea bilateral trade at US$22 billion


UAE-Turkey trade exchange stood at Dh 33.3 billion in first eight months of 2012


Lubna reviews foreign trade challenges


Dh4.7 billion value of UAE - Indonesian trade during first 8 months of 2012


Abu Dhabi hosts UAE-Russian joint Committee meetings


Dubai-Brazil trade volume at Dh6 billion


UAE - Italy trade reaches Dh18.475b in first 8 months in 2012


Sharjah prepares for major “World Trade Week”


US Ambassador: UAE is US's largest Arab, Mid East trading partner


Shurooq discusses future collaboration with US Regional Trade Centre


Dubai Chamber signs MoU with PAIiIZ


UAE ranked 3rd globally in the re-export of plastics


UAE and Poland to strengthen bilateral trade


US exports to UAE rise above US$22bn mark


UAE non-oil trade grows to Dh678 b in 8 months


UAE and Japan trade reaches Dh194.95 billion last year


ADDED and German e-Government solutions provider sign strategic partner agreement


UAE and Kyrgyzstan discuss stronger trade relations


UAE-Colombia trade at Dh107m in H1


UAE is interested to expand trade and investment exchange with Kosovo: Lubna


UAE non-oil trade collects Dhs594bn; grows at 12%, says FCA


India remains UAE’s top trade partner: Minister


UAE, Turkey trade grows by 197% in H1 of 2012


Dubai, Jeddah chamber to consolidate ties


UAE- UK trade ties strengthened through Memorandum between Commercial Courts


DCCI's exports to GCC countries grew by 51 per cent in 2012


Dubai Exports facilitates Dh5 billion worth of exports, sees 119 per cent rise in deals in 2012


UAE and France to raise trade exchange by 50% in next five years


Dubai sees 9% growth in exports


Abu Dhabi boosts economic cooperation with Japan


SCAD: Non-oil merchandise trade through the ports of Abu Dhabi stood at Dh11.8 billion in September 2012


UAE remains top Mideast market for Japan


Abu Dhabi's foreign trade up 37.6% in 2011 to Dh 532.9 billion


UAE trade to reach Dh3.60tr in 2012


UAE, Hong Kong trade to grow over 30%


Dubai Trade pledges support for UAE's bid to host 2020 World Expo in Dubai


Dubai needs creative trade initiatives to usher into new markets: Maktoum


Lubna, Russian officials discuss stronger trade relations


Al Mansouri chairs UAE-Azeri Joint Economic Committee meeting


Dubai, Ecuador to boost bilateral trade


Dubai's ten-month total foreign trade exceeds Dh 1trillion for the first time