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THE ECONOMY - TRADE

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

UAE, UK discuss ways to enhance economic co-operation

Posted on 12/12/2012

Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, met with Lord James Sassoon, Commercial Secretary to the Treasury in the United Kingdom, and discussed ways to enhance economic co-operation between the two countries. Both discussed ways to boost ties in the areas such as small and medium enterprises (SMEs), renewable energy, and the possibility of boosting mutual trade. During the meeting, Al Mansoori highlighted the vital role of the UAE-UK Joint Economic Committee in enhancing mutual ...  >>MORE

UAE urges EU to remove trade barriers

Posted on 10/12/2012

The volume of trade exchange between the UAE and the European Union (EU) is expected to be stable and at its 2011 levels due to economic recession prevailing in the EU nations, said economists. Dr. Numan Ashour, a chief economist and analyst at the CNBC Arabia, told Gulf News that the volume of trade between the UAE and the EU in 2012 will be similar to that in 2011 at around Dh147 billion. Dr. Mohammad Amerah, economic adviser at Sharjah Chamber of Commerce and Industry, told Gulf News "the ...  >>MORE

UAE and EU explore prospects of joint economic and trade cooperation

Posted on 09/12/2012

The UAE Minister of Economy, Sultan bin Saeed Al Mansoori, emphasized during a meeting with Ambassadors of the European Union (EU) the importance of enhancing economic relations and mutual trade between the UAE and the EU countries by taking advantage of the numerous investment opportunities available. He mentioned that the UAE's future economic policy will focus on tourism, industry, trade and innovations which are vital areas in building knowledge based economy. The minister met with 18 EU ...  >>MORE

WTO places UAE 20th in merchandise trade ahead of Australia, Brazil, Switzerland and Sweden

Posted on 05/12/2012

UAE is the world's 20th biggest exporter in merchandise trade, according to the most recent classification done by the World Trade Organisation (WTO) Secretariat for 2011, surpassing countries like Australia, Brazil, Switzerland and Sweden. The UAE exported US$285 billion in merchandise trade, next to India (19th position) with exports of US$297 billion, "Khaleej Times" said while quoting the WTO report. The UAE constituted 1.6 per cent of the world's exports which stood at US$18.21 trillion ...  >>MORE

UAE is the world’s 20 biggest exporter

Posted on 04/12/2012

The UAE has been classified as the world's 20th biggest exporter in merchandise trade surpassing countries such as Australia, Brazil, Switzerland and Sweden, according to the World Trade Organisation secretariat for 2011. The UAE exported US$285 billion (Dh1 trillion) in merchandise trade, next to India which took the position 19th with exports of US$297 billion, according to the WTO. Moreover, the UAE constituted 1.6 per cent of the world's exports which stood at US$18.215 trillion of ...  >>MORE

Lubna expects growth of foreign trade by 10- 15 per cent

Posted on 29/11/2012

Foreign Trade Minister Sheikha Lubna Al Qasimi said that the UAE foreign trade would see growth by 10- 15 per cent in 2012. She added while meeting 60 journalists representing different continents, at Grand Millennium Hotel Abu Dhabi, that the UAE foreign trade policy focuses on expansion of non oil sector with different countries worldwide, and boosting ties with its trade partners in five continents. The journalists were invited by National Media Council to cover the UAE's 41st national ...  >>MORE

SCAD: non-oil merchandise trade through the ports of Abu Dhabi Grows to Dh 12.3 billion in August 2012

Posted on 27/11/2012

Total value of Abu Dhabi's non-oil merchandise trade in August 2012 was Dh 12,035 million, of which Dh 8,764 million (72.8 percent of total) was imports, Dh 2,189 million (18.2 percent of total) was non-oil exports of and Dh 1,082 million (9.0 percent of total) was re-exports, official figures showed. 'Total non-oil merchandise trade grew by Dh 294 million (2.5 percent) in August compared with July 2012, with non-oil exports increasing by Dh 1,130 million (>100 percent) while imports retreated ...  >>MORE

Lubna receives Houston Mayor and US trade delegation

Posted on 13/11/2012

Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade has said that UAE always welcomed U.S companies and investments, referring to the vital role these companies are playing in the promotion of Emiratisation and transferring of latest technologies. She cited that UAE has succeeded in becoming a regional headquarter for a number of U.S based companies which look forward to expanding their operations in the region. During her meeting with Houston Mayor Annise Parker and a U.S trade ...  >>MORE

Lubna, Couchepin discuss UAE-Swiss economic and trade relations

Posted on 12/11/2012

Ways to promote economic and trade relations between the UAE and Switzerland were discussed yesterday by Minister of Foreign Trade Sheikha Lubna Al Qasimi and former Swiss President Pascal Couchepin. Discussions took place on the sidelines of the 2-day third meeting of Emirati-Swiss Friendship Forum which started yesterday. Sheikh Lubna underscored the need to benefits from the gains achieved by the UAE-Swiss economic relations. She expressed hopes for substantial future growth in the ...  >>MORE

Ministry of Foreign Trade Monitors WTO Report on G-20 Trade Measures

Posted on 10/11/2012

The G-20 has witnessed a slowdown in the imposition of new trade restrictive measures during the period from mid-May to mid-October 2012, according to the report of the World Trade Organisation's (WTO) Director-General Pascal Lamy, on trade measures issued on the 31st of October 2012. The report said "at a time of continuous economic difficulties, trade frictions seem to be increasing", calling on G-20 governments to "redouble their efforts to keep their markets open, and to advance trade ...  >>MORE

UAE and Japan trade up 8% at Dh147.3b

Posted on 08/11/2012

The total value of trade between the UAE and Japan grew by around 8 per cent to Dh147.35 billion ($40.15 billion) during the first nine months of this year compared to Dh136.6 billion ($37.22 billion) in the corresponding period last year. According to the data of Japan External Trade Organisation (JETRO), the value of the UAE exports to Japan grew by around 4 per cent to Dh122.21 billion ($33.3 billion) over the first three seasons of 2012 compared to Dh117.26 billion ($31.95 billion) during ...  >>MORE

UAE climbs seven global positions in Doing Business index

Posted on 05/11/2012

Dubai Trade has welcomed news that the UAE continues to be a world leader in facilitating trade, despite stiff competition from other world economies, retaining its position as number one in the MENA region, and number five in the world in Trading across Borders category, according to the latest World Bank's Doing Business Report 2013. Jamal Majid Bin Thaniah, Chairman, Dubai Trade, the premier cross-border trade facilitator, said, "We are delighted that the UAE is recognised as a great place ...  >>MORE

UAE foreign trade at Dh499b in first half

Posted on 05/11/2012

The total value of UAE's foreign trade in the first half of 2012 touched Dh499 billion compared to Dh451.6 billion for the same period in 2011, recording an increase by Dh47.4 billion, up by 10.5 per cent , the National Bureau of Statistics (NBS) showed on Sunday. The NBS said that the imports have also increased in H1 of 2012 to Dh321.4 billion compared to Dh286.3 billion for the same period of 2011, up by 12.3 per cent. NBS figures showed that the national exports amounted to Dh77 billion ...  >>MORE

Lubna Al Qasimi appointed as member of Governing Board of the Lee Kuan Yew School of Public Policy

Posted on 30/10/2012

Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has been appointed as a member of the Governing Board of the Singaporean Lee Kuan Yew School of Public Policy (LKY School), which is considered a global leader in post-graduate public policy education. The school, which belongs to the National University of Singapore, has graduated many of Singapore's and the world's top officials. Sheikha Lubna was chosen for her efforts and unique expertise in international trade and political ...  >>MORE

UAE world's leading re-exporter of tea from 2007 – 2011

Posted on 30/10/2012

The UAE is a central global hub in the tea re-export market, according to the report issued yesterday by The Ministry of Foreign Trade, on the occasion of the "International Coffee and Tea Festival", which is scheduled to begin in Dubai on the 30th of October, 2012. The study found that during the past five years (2007 - 2012), the UAE was the world's foremost re-exporter of tea, with a 60 percent share of the world's tea re-export market, with a share that was valued at around US$48 million ...  >>MORE

UAE's general trade jumps to Dh 346 billion in Q1-12

Posted on 24/10/2012

The UAE's general trade volume (total volume of UAE non-oil foreign trade and trade of free zones) in the first quarter of 2012 recorded a 6.7% increase by Dh 21.6 billion from Dh 3.24.6 billion to Dh 346.2 billion year on year, Preliminary statistical data released yesterday by the Federal Customs Authority (FCA) showed. The Federal Customs Authority (FCA), in a press release, said imports accounted for Dh 219.9 billion of UAE total trade, while exports and re-exports represented Dh 38 ...  >>MORE

UAE, Ireland discuss higher trade exchange and cooperation on SMEs

Posted on 18/10/2012

Dublin: Minister of Economy Sultan Saeed Al-Mansoori and Chief Executive Officer of Enterprise Ireland Frank Ryan discussed enhancing the UAE's capabilities in various spheres such as small and medium size enterprises (SMEs), exchanging expertise, investment opportunities, innovation and scientific research, intellectual property to boost its transformation into a knowledge-based economy. Al-Mansoori who is leading a high level business delegation to Ireland said the Dublin visit aims to ...  >>MORE

UAE non-oil foreign trade in first half of this year reaches Dh 499 billion, says FCA

Posted on 18/10/2012

The UAE non-oil foreign trade showed higher growth rate in the first half of this year, as it reached 10.5% compared to the same period in the last year. The FCA initial statistics showed that the total non-oil foreign trade rose by Dh 47.4 billion to Dh 499 billion in the first half of this year compared to Dh 451.5 billion in the same period of last year. Exports achieved a significant growth by 40% in the first half of this year, the FCA said in a press release yesterday. The UAE non-oil ...  >>MORE

UAE making huge strides in int’l trade, investments

Posted on 17/10/2012

Despite the global economic slowdown, the UAE's foreign trade has risen 23 per cent to Dh923 billion in 2011, about four times that of the global average. This was stated by an official of the Ministry of Foreign Trade, or MoFT, in Dubai, at a three-day "Seminar on Trade Facilitation among Arab Countries and their Integration into the Multilateral Trading System”, which was held in cooperation with the secretariat of the Gulf Cooperation Council and the Islamic Development Bank. ...  >>MORE

UAE participates in COMCEC meetings in Istanbul

Posted on 11/10/2012

Istanbul: The 28th session of the OIC's COMCEC meeting was opened yesterday in Istanbul by the Turkish Prime Minister Recep Tayyip Erdogan. The UAE delegation to the meeting is being headed by Economy Minister Sultan bin Saeed Al Mansouri. Al Mansouri said the UAE was keen to take part in all OIC meetings and activities, given their importance at all economic, commercial, cultural, political and social levels. He added that the UAE was among leading countries in intra-COMCEC trade. The ...  >>MORE

UAE non-oil trade grows to Dh 412.5 b in 5 months

Posted on 11/10/2012

UAE non-oil foreign trade maintained positive growth rates in the first five months of this year. The FCA initial statistics showed that the growth rate in the UAE non-oil foreign trade reached 10% in this period compared to the same period in the last year. The total non-oil foreign trade rose by Dh 35.9 billion to Dh 412.5 billion compared to Dh 376.6 billion in the period of comparison. The imports increased by 13% from early January to late May this year, raising the UAE non-oil exports ...  >>MORE

Electronics trades up at Dh51b in Q1 2012

Posted on 11/10/2012

The trade in electronics and their accessories grew by eight per cent during the first quarter of 2012 reaching Dh51 billion compared to Dh47 billion in the same period of 2011, the Dubai Customs announced on Wednesday. According to the data produced by the Statistics Section at the Strategy and Corporate Excellence Department of the Dubai Customs, the electronics imports during the first quarter of 2012 reached Dh28 billion against Dh27 billion in the first quarter of 2011. The export and ...  >>MORE

UAE non-oil trade grows to Dh 320.3 b in four months

Posted on 09/10/2012

UAE non-oil foreign trade maintained positive growth rates in the first four months of this year rose by Dh 17.3 billion to Dh 320.3 billion compared to Dh 303 billion in the period of comparison. The FCA initial statistics showed that exports increased by 10% from early January to late April this year, raising the UAE non-oil exports by Dh 18.4 billion from Dh 190.6 billion in 2011 to Dh 209 billion in the same period of this year. "The exports grew within the above period by 33% from Dh ...  >>MORE

Lubna Al Qasimi concludes Thailand Visit - meets with country's Prime Minister

Posted on 07/10/2012

Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has concluded her official visit to the Kingdom of Thailand with a meeting with the country's Prime Minister Yingluck Shinawatra at the Government's Headquarters in Bangkok. The meeting was also attended by Mohammad Ali Omran Al Shamsi, UAE Ambassador to Thailand, and the delegation accompanying Sheikha Lubna . The Thai Premier welcomed the UAE delegation's visit, saying that it will contribute towards strengthening bilateral ...  >>MORE

RAK FTZ posts 4% rise in new registrations

Posted on 03/10/2012

Ras Al Khaimah Free Trade Zone (RAK FTZ) – one of the fastest-growing and most cost-effective free trade zones in the UAE – announced on Tuesday a four per cent year-on-year increase in new company registrations in the first half of 2012, according to the audited reports by PricewaterhouseCoopers (PwC). A total of 1,145 new companies registered with RAK FTZ in H1 2012, a significant increase from the 1,101 companies registered in the first half of 2011. Revenues from the registrations touched ...  >>MORE

UAE, Argentina to increase trade

Posted on 03/10/2012

Argentina, Latin America's third largest economy, wants to strengthen its presence in Middle East markets. The country seeks to boost its agri-food and livestock exports particularly meat, fish and poultry into the region. A seven member delegation, led by Ruben Caro, Argentine Ambassador in the UAE, comprising Gustavo Al Varez, Undersecretary of Political Co-ordination at the Argentine Ministry of Agriculture, Livestock and Fisheries and other senior officials from the Agriculture Ministry ...  >>MORE

Over 600% growth in UAE re-exports to Cambodia in 2011

Posted on 02/10/2012

The UAE's non-oil exports to Cambodia have risen by 639 percent from 2010 to 2011, with total Emirati exports to the Asian country going up by 271 percent during which the UAE achieved a surplus in trade between the two countries of around US$ 2.3 million in 2011, in comparison with a deficit the year before worth around 8.5 million, with total bilateral foreign trade between the two countries growing by 122 percent in 2011. This data was made available in a study released yesterday by the ...  >>MORE

UAE non-oil trade grows by 2.3% in Q1-2012

Posted on 30/09/2012

The UAE non-oil foreign trade maintained an impressive growth in the first quarter of 2012, according to statistical data released by the Federal Customs Authority (FCA). It showed that the growth rate of UAE exports hit 38% in the said quarter, raising the exports to Dh 34.3 b compared to Dh 24,8 b in the same period of the last year with an increase of Dh 9.5 b. In the same period, the UAE imports rose to 6%, raising the UAE non-oil imports by Dh 8.9 b from Dh 147 b in the first quarter of ...  >>MORE

UAE-Japan trade grows 14.5%

Posted on 27/09/2012

The value of Japan's bilateral trade with the UAE increased by 14.5 per cent to US$27.2 billion during the first six months of 2012. In addition to the effects of increased price of crude oils, a 71 per cent increase in Japan's exports of motor vehicles, 37 per cent increase in general machinery exports and 97 per cent increase in iron and steel products exports to the UAE have also played a considerable role in the increase in trade value. Price of crude oils rose by 11.75 per cent during ...  >>MORE

Dubai-India trade reaches Dh77b in H1 2012

Posted on 27/09/2012

India ranked first among Dubai's major trade partners during the first six months of 2012, with the value of trade exchange between the two emirate and the subcontinent amounting to Dh77 billion, accounting for 13% of the total value of Dubai's foreign trade which stood at Dh602 billion during the same period, according to Executive Chairman of Ports, Customs and Free Zone and Director General of Dubai Customs Ahmed Butti Ahmed. The total value of Dubai's imports from India, which included ...  >>MORE

Lubna urges WTO members for strengthened economic and trade openness

Posted on 26/09/2012

Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi said the current global multilateral trade order is in a crisis and expressed cautious optimism towards it. The minister called for more contributions from World Trade Organisation's member states to this order and the current negotiations. She made her remarks in a keynote speech yesterday at the opening session of the World Trade Organisation's Public Forum in Geneva, Switzerland. "The most negative impact that came about as ...  >>MORE

Hatta Border Port Crossing plays a vital role in enhancing Oman's economy

Posted on 25/09/2012

Hatta Customs Centre plays a major role in enhancing trade and passengers movement between Dubai and Sultanate of Oman and has become a focal point for land transport between the Sultanate and other GCC States due to the services and facilities it offers to traders, goods and trucks. Hatta Border Post has become one of the most important border crossings linking UAE with Oman as a result of the increasing movement of products, goods and people through the border post giving it a growing role ...  >>MORE

UAE non-oil trade up 5% to Dh 76.6b in Feb. 2012

Posted on 23/09/2012

The UAE's non-oil foreign trade grew 5% (or Dh 3.6 billion) to reach Dh 76.6 billion in February 2012, compared with Dh 73 billion in February 2011 , preliminary statistics released by the Federal Customs Agency (FCA) showed. UAE's non-oil exports made an unprecedented jump last February by 62% (or Dh 4.6 billion) to Dh 12.1 billion compared with Dh 7.5 billion in February 2011, FCA said in a press release. Meanwhile, the UAE's non-oil imports in February 2012 grew by 8% to Dh 54.9 billion ...  >>MORE

UAE non-oil foreign trade increased to Dh 78.3 b in last January

Posted on 19/09/2012

The total non-oil foreign trade of the UAE during the month of January 2012 was Dh 78.3 billion as compared to Dh 72.3 billion of the same period last year showing an increase of six billion dirhams and a growth rate of eight per cent. The UAE non-oil exports increased by Dh 2.7 billion from Dh 7.8 billion in January 2011 to Dh 10.1 billion in January 2012, growing by 30% in spite of the unfavourable political and economic circumstances in the region and the world, the primary statistics of ...  >>MORE

DCCI members’ exports, re-exports surge

Posted on 19/09/2012

The economic success of Dubai is attributed to the strong partnership between the public and private sectors. Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry (DCCI) stated that the two-way communication stimulates an exchange of ideas on key issues and is the most important basis of the partnership, which goes a long way in supporting the economic development of the emirate. Buamim was speaking at the 3rd Talk Business at Breakfast networking meeting of the year ...  >>MORE

Lubna Al Qasimi opens UAE Pavilion at Ningxia, meets Governor of Province

Posted on 15/09/2012

Yinchuan, China - UAE Foreign Trade Minister Sheikha Lubna Al Qasimi accompanied by Deputy Chinese Deputy Vice-Premier Li Keqiang inaugurated on Friday the UAE pavilion at The China's Ningxia International Investment and Trade Fair 2012, being held here from Sept. 12-16. The event was also attended by Abdullah Al Saleh, Undersecretary of the Ministry of Foreign Trade UAE Ambassador to China Omer Ahmed Udai Nasib Al Bittar, Mohammed Hamdan Al Zaabi, Director of the Department of Foreign Trade ...  >>MORE

UAE-Singapore non-oil trade tops $2.86b, bound to grow

Posted on 15/09/2012

Non-oil trade between the UAE and Singapore exceeded $2.86 billion in 2011, it was revealed by a study released by the Ministry of Foreign Trade, or MoFT, on Friday. It was part of the MoFT's Trade Policy Review, or TPR, of Singapore, which was prepared within the framework of the ministry's ongoing efforts to increase awareness among public and private sector entities regarding the trade and investment systems of the UAE's primary trade partners using the TPRs that are released by the World ...  >>MORE

UAE Minister: Trade between China and Arab states to reach worth 300b dollars by 2014

Posted on 13/09/2012

Yinchuan, China - Trade between Arab states and China will witness major leap in the coming years as a result of the increasing economic, investment and commercial cooperation between the two sides, predicted UAE minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi. "We are confident of our ability to achieve our common aspirations for increasing the volume of trade exchange to reach US$300 billion during the next two years", she said addressing the 3rd China-Arab States Economic and ...  >>MORE

Key economic indicators show UAE is well placed

Posted on 13/09/2012

The continuation of the turnaround of the UAE economy in 2012 from 2011 is a welcome relief, however availability of liquidity will remain the key to the turnaround, the CEO of Daman Investments, one of the leading UAE-based investment management companies, said on Wednesday. Shehab Gargash was commenting on the current and future financial landscape and the company's updates while releasing the Daman Investments GCC Economic Report 2012 at a media roundtable in Dubai. In his analysis, ...  >>MORE

UAE-China trade grow fivefold over last 10 years, says MoFT

Posted on 11/09/2012

Trade between the UAE and China has increased fivefold over the past 10 years with a growth rate of 395 percent – from USD 15.654 billion in 2011 to USD 3.12 billion in 2002. During this period, both countries achieved steady economic growth that was capable of overcoming the ramifications of the slowing global economy. Trade between the two countries is expected to grow faster in the future especially that China is now the world's second largest economy. In a study released yesterday by the ...  >>MORE

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Quick List

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


UAE, UK discuss ways to enhance economic co-operation


UAE urges EU to remove trade barriers


UAE and EU explore prospects of joint economic and trade cooperation


WTO places UAE 20th in merchandise trade ahead of Australia, Brazil, Switzerland and Sweden


UAE is the world’s 20 biggest exporter


Lubna expects growth of foreign trade by 10- 15 per cent


SCAD: non-oil merchandise trade through the ports of Abu Dhabi Grows to Dh 12.3 billion in August 2012


Lubna receives Houston Mayor and US trade delegation


Lubna, Couchepin discuss UAE-Swiss economic and trade relations


Ministry of Foreign Trade Monitors WTO Report on G-20 Trade Measures


UAE and Japan trade up 8% at Dh147.3b


UAE climbs seven global positions in Doing Business index


UAE foreign trade at Dh499b in first half


Lubna Al Qasimi appointed as member of Governing Board of the Lee Kuan Yew School of Public Policy


UAE world's leading re-exporter of tea from 2007 – 2011


UAE's general trade jumps to Dh 346 billion in Q1-12


UAE, Ireland discuss higher trade exchange and cooperation on SMEs


UAE non-oil foreign trade in first half of this year reaches Dh 499 billion, says FCA


UAE making huge strides in int’l trade, investments


UAE participates in COMCEC meetings in Istanbul


UAE non-oil trade grows to Dh 412.5 b in 5 months


Electronics trades up at Dh51b in Q1 2012


UAE non-oil trade grows to Dh 320.3 b in four months


Lubna Al Qasimi concludes Thailand Visit - meets with country's Prime Minister


RAK FTZ posts 4% rise in new registrations


UAE, Argentina to increase trade


Over 600% growth in UAE re-exports to Cambodia in 2011


UAE non-oil trade grows by 2.3% in Q1-2012


UAE-Japan trade grows 14.5%


Dubai-India trade reaches Dh77b in H1 2012


Lubna urges WTO members for strengthened economic and trade openness


Hatta Border Port Crossing plays a vital role in enhancing Oman's economy


UAE non-oil trade up 5% to Dh 76.6b in Feb. 2012


UAE non-oil foreign trade increased to Dh 78.3 b in last January


DCCI members’ exports, re-exports surge


Lubna Al Qasimi opens UAE Pavilion at Ningxia, meets Governor of Province


UAE-Singapore non-oil trade tops $2.86b, bound to grow


UAE Minister: Trade between China and Arab states to reach worth 300b dollars by 2014


Key economic indicators show UAE is well placed


UAE-China trade grow fivefold over last 10 years, says MoFT