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THE ECONOMY - TRADE

Lubna Al Qasimi stresses depth of UAE-Asian countries' cooperation ties

Posted on 15/01/2012

Hyderabad - Sheikha Lubna Al Qasimi, Minister of Foreign Trade has stressed the strength and depth of the cooperation ties between the UAE and Asian countries, especially with India. Addressing the Partnership 2012 Summit, organised by the Confederation of Indian Industry and Government of Andhra Pradesh in Hyderabad City, she underscored the significance of increasing and diversifying the trade and investment cooperation ties among the South countries to further enhance the economic and ...  >>MORE

Non-oil UAE trade fetches Dh600 billion in eight months

Posted on 09/01/2012

UAE non-oil foreign trade has shown progressive growth during the eight months of 2011 compared to the same period of the previous year. Federal Customs Authority (FCA) preliminary statistics show that UAE non-oil foreign trade has grown for the stated period by 22% compared to the same period of the previous year as Total non-oil Foreign Trade has grown from Dh492.5 during the first 8 months of 2010 to Dh600.1 billion in the same period of 2011, i.e., an increase of Dh107.6 billion. In a ...  >>MORE

Dubai total trade with the world exceeds Dhs814bn at the end of Q3 in 2011

Posted on 04/01/2012

Dubai's non-oil total trade, which includes direct trade, free zone trade, and customs warehouse trade, exceeded Dhs814bn at the end of third quarter in 2011, an increase by 23% compared to the same period of 2010 which reached Dhs661bn. Ahmed Butti Ahmed, the Executive Chairman of Ports, Customs '&' Free Zone Corporation, Director General of Dubai customs said that these great results of Dubai foreign trade reflect UAE's strong and dynamic economy. "There are certain factors that stood ...  >>MORE

Non-oil UAE trade grew 23% to Dh524 billion in 7 months, says FCA

Posted on 02/01/2012

UAE non-oil foreign trade has been on the go for 7 months of 2011 compared to the same period of the previous year. The preliminary statistics released by the Federal Customs Authority (FCA) show that UAE non-oil foreign trade has grown for the staid period by 23% compared to the same period of the previous year as Total non-oil Foreign Trade has grown from Dh426 billion during the first 7 months of 2010 to Dh524 billion in the same period of 2011, i.e., an increase of Dh98 billion. The ...  >>MORE

UAE pledges to bolster China-Arab trade relations

Posted on 28/12/2011

The UAE yesterday pledged to work to deepen Sino-Arab friendship and enhance political, economic and trade cooperation, according to Sheikh Abdullah Bin Zayed Al Nahyan, UAE Foreign Minister. "We should deepen Sino-Arab friendship, expand cooperation, and establish new partnerships to mark a new stage of all-weather and deeper cooperation between the two nations," Sheikh Abdullah said at the fourth Sino-Arab Cooperation Forum. He added that based on the recommendations made in previous ...  >>MORE

UAE calls on WTO members to remove trade barriers

Posted on 19/12/2011

Geneva - The UAE firmly believes that World Trade Organization member states must continue removing obstacles to trade to maintain the function of global commerce as an engine of growth, of jobs, of development, and of poverty reduction, Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, told the WTO's 8th Ministerial Conference here. Delivering the UAE address, Sheikha Lubna drew attention of the highest WTO's gathering to the UAE initiative to liberalize raw materials and ...  >>MORE

UAE-China trade will ride new growth opportunities

Posted on 06/12/2011

Trade between the UAE and China reached US$25 billion (Dh91.75 billion) in the first nine months of this year, a 36.6 per cent increase over the corresponding period last year. "The volume of trade for this year will register a new record figure," Jiang Yaoping, Chinese Vice-Minister of Commerce, told Gulf News after the opening of the 10th Chinese Commodities Fair yesterday. Trade is expected to reach US$30 billion by the end of this year, said Ahmad Al Midfa, Chairman of the Sharjah ...  >>MORE

UAE-Sri Lankan trade relations on the right track

Posted on 27/11/2011

Colombo - The increasing pace of trade between the UAE and Sri Lanka is a clear indication that economic and commercial relations and cooperation between the two countries are on the right track. Foreign Trade Minister Sheikha Lubna bint Khalid Al Qasimi who ended yesterday a four-day visit to Sri Lanka, heading a large UAE business delegation, said the UAE is the largest Foreign Direct Investor in Sri Lanka, thanks to the 9.2 percent surge in trade exchange which reached US$364 million in ...  >>MORE

UAE, South African officials to expand economic relations

Posted on 16/11/2011

Engineer Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Securities and Commodities Authority (SCA) recently met with South Africa's Minister of Trade and Industry Dr Rob Davies and Ebrahim Patel, the South African Minister of Economic Development, in the presence of a number of senior officials and economic experts from both the UAE and South Africa. During the meeting, avenues for fostering economic cooperation between the two countries, including supporting relations ...  >>MORE

UAE food re-exports up by 16.5% in 2010

Posted on 14/11/2011

The UAE's food re-exports rose by more than 16.5% in the year 2010, according to the latest trade figures from the Ministry of Foreign Trade released ahead of SIAL Middle East 2011. The total value of food re-exports from the UAE reached Dh8.1billion in 2010. MoFT's report shows that UAE's re-exported food goods had presence in 140 markets around the world. Islamic Republic of Iran, Afghanistan, Somalia, India, Saudi Arabia, Qatar, Oman and Kuwait dominate 73.2% of the UAE's total food ...  >>MORE

Several opportunities for economic cooperation with Turkmenistan, says UAE's Economy Minister

Posted on 09/11/2011

Ashgabat - Economy Minister of the UAE Sultan Saeed Al Mansouri said the strategic relations with Turkmenistan and the unique friendly relations between President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Turkmen Gurbanguly Berdimuhamedow resulted in advancing the economic, cultural and political relations between the two countries to high levels. Al-Mansouri was speaking at the International Investment Forum of Turkmenistan being held in the Turkmen capital. He stressed that ...  >>MORE

U.S eyes stronger commercial relationship with UAE, says Undersecretary of Commerce

Posted on 03/11/2011

U.S. Under-Secretary of Commerce for International Trade Francisco Sanchez on Tuesday expressed confidence in the UAE's business climate which he described as favourable in the long run for U.S. trade and the efforts to advance U.S. President Obama's national export initiative to double U.S. exports by 2014 The U.S trade mission chose to visit the UAE and Qatar because between the two countries, by some estimates, there are investments of over US$300 billion in various infrastructures and in ...  >>MORE

Hatta border port to boost trade

Posted on 01/11/2011

Top officials have inspected the Hatta Border Port Project that aims to promote commercial and economic activities between the UAE and Oman. Saif Abdullah Al Shafar, Undersecretary of the Ministry of Interior, recently visited the project in the presence of Hussain Nasser Lootah, Director-General of Dubai Municipality, Mohammad Al Merri, Director-General at General Department for Residency and Foreigners' Affairs (GDRFA), and officials from federal and government agencies. The project, on ...  >>MORE

Lubna Al Qasimi discusses trade and investment with France

Posted on 31/10/2011

Paris - Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade has said that UAE and France have distinguished cooperation in various fields with close economic partnership and steadily growth. During a meeting here yesterday with her French counterpart Pierre LELLOUCHE, Al Qasimi noted the importance of increasing and diversifying aspects of trade and investment cooperation between two countries to strengthen the bonds of economic and investment relations. UAE ambassador to France ...  >>MORE

GCC and France have viable economic partnership: Lubna

Posted on 30/10/2011

Paris - The UAE stressed the need for expanding bilateral, regional and multilateral collaborative framework to deliver sustained and balanced economic growth for the best interest of peoples. 'Expanding and diversifying trade and investment cooperation between the GCC and France will definitely strengthen bonds economic and political relations. However, GCC needs to set sectors of priority and harmonise them with their national development plans especially in advanced technology in France ...  >>MORE

UAE, US to boost trade relations through TIFA

Posted on 26/10/2011

Sultan Al Mansoori, UAE Minister of Economy, stressed on Monday the UAE's keenness towards strengthening economic relations with the United States, especially in light of the new economic changes that are imperative for the U.S. and European economies to establish new cooperation and targeting new markets in the Middle East given the key role played by emerging economies in the world economy. Al Mansoori was speaking, while meeting with Miriam Siparo, Deputy U.S. Trade Representative. The ...  >>MORE

US-UAE trade, investment cooperation discussed

Posted on 25/10/2011

Stronger cooperation on trade and investment and relations between the business communities of the UAE and the U.S were at the focus of a meeting Monday between Minister of Foreign Trade of the UAE Sheikha Lubna Al Qasimi and Deputy U.S. Trade Representative (USTR) Ambassador Miriam Sapiro who is on a current visit to the UAE. In remarks at the meeting, Sheikha Lubna, reiterated the UAE's interest in promoting commercial and investment relations as well as cooperation on small and medium ...  >>MORE

UAE, China to enhance trade, tourism and investment ties

Posted on 24/10/2011

Guangzhou - The UAE and China have stressed the importance of boosting the trade, tourism and investment ties. This was disclosed in a meeting held by Abdullah Ahmed Saleh, Undersecretary of the Ministry of Foreign Trade with the Chinese Minister of Foreign Trade Affairs Luo Jiang at the sidelines of the 110 Canton Fair 2011, which was opened here yesterday. Saleh is heading the UAE trade delegation to attend the fair, which will conclude on Thursday. The Chinese minister welcomed the UAE ...  >>MORE

Non-oil UAE H1 2011 hits Dh445 billion

Posted on 24/10/2011

Non-oil foreign trade of the United Arab Emirates (UAE) grew 22% year-on-year in the first half of 2011, new data showed. The country's non-oil foreign trade increased by Dh80.7 billion, up from Dh364.3 billion, in the same period in 2010 to reach Dh445 billion in 2011, the latest figures released by the Federal Customs Authority (FCA) showed. FCA's data on imports showed a 20% growth from Dh236.5 billion in 2010 to Dh285 billion in 2011 for same period. According to FCA, in a press ...  >>MORE

Emirates Steel reports strong financial performance

Posted on 24/10/2011

Emirates Steel, has released its financial results for the nine months ended September, 2011 noting that its earnings before interest tax and depreciation (EBITDA) had more than doubled year on year and that the net profit for the first nine months showed a 70% increase on 2010's full year result. Despite the relatively challenging conditions faced in the domestic market the company has increased its market share to approximately 60 per cent and has significantly expanded its export business, ...  >>MORE

Abu Dhabi non-oil foreign trade totals Dh109.2 billion: SCAD

Posted on 19/10/2011

Total non-oil foreign merchandise trade through the ports of the emirate of Abu Dhabi in 2010 amounted to Dh109.2 billion in 2010, compared with Dh112.1 billion in 2009, according to the annual statistical report released by Statistics Centre - Abu Dhabi (SCAD) issued yesterday. It added the decline of 2.6 per cent in 2010 can be attributed to the value of imports which fell from Dh93.9 billion to Dh86.6 billion or by 7.8 per cent. By contrast, the total non-oil exports increased by 22.2 per ...  >>MORE

UAE, Indonesia trade volume touches US$500 million in first five months of 2011

Posted on 18/10/2011

The Ministry of Foreign Trade announced that the total volume of the non oil trade exchange between the UAE and Indonesia stood at about US$500 million in the first five months of 2011. According to the study released by the ministry, the re-exportation from the UAE to Indonesia grew in the corresponding period by 256 per cent to US$26 million. The study aims to increase awareness of Emirati exporters about the exportation markets worldwide that suit local manufactured products, and expand of ...  >>MORE

Dubai’s non-oil trade jumps 24%

Posted on 18/10/2011

Despite the global economic recession, Dubai non-oil trade, spanning imports, exports and re-exports, saw a significant surge of 24 per cent in the first half of 2011, which is higher than its value before the downturn. Providing for promising investment opportunities, the emirate's non-oil trade hit Dh345 billion in the period from January 1 to June 30 as compared to Dh279 billion in the first half of 2010, according to a top customs official here. Ahmed Butti, the executive chairman of ...  >>MORE

UAE's foreign trade jumps 14% in 2010, says Ministry of Foreign Trade report

Posted on 16/10/2011

The UAE's non-oil foreign trade jumped 14% in 2010, data showed today. The value of the OPEC member's non-oil foreign trade grew to 754.4 billion dirhams from 660.4 billion in 2009, a report released yesterday by the UAE Foreign Trade Ministry (MoFT) showed. Exports without crude jumped 27% from 2009 to 83.1 billion dirhams, while re-exports grew 26%. Non-oil imports increased by 8% year-on-year to 485.4 billion dirhams in 2010, the data also showed. In 2010, India, China and the ...  >>MORE

UAE companies win 24 Stevie Awards

Posted on 10/10/2011

It is apparent that the UAE is fast becoming a global market player and the recognition by international judging panel indicates the accomplishments of companies and individuals from here. This should be a clear indication that over the years the UAE has transformed and it is now ready to compete with other established markets across various industries, Minister of Foreign Trade of the UAE Sheikha Lubna Al Qasimi commented on UAE companies who featured prominently in this year's final results ...  >>MORE

Magnificent 7 UAE Expo in Karachi

Posted on 06/10/2011

Pakistan offers a range of investment and trade opportunities especially in electricity, energy, telecommunication and transportation sectors, which have shown high profitability and business growth potential, said senior UAE and Pakistani diplomats. This was stated at a meeting which was attended by Suhail bin Mattar Al Katbi, the UAE Consul General in Pakistan; Jamil Ahmed Khan, the Pakistani Ambassador in the UAE; and Mohamed Nasser Al Zaabi, the Director of the Trade Promotion Department ...  >>MORE

Stronger UAE-Italy trade cooperation discussed

Posted on 04/10/2011

Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi and Italy's Minister of Economic Development Paolo Romani here discussed ways to promote trade and investment relations between the two countries. In remarks at the meeting, Sheikha Lubna noted that there are state-sponsored plans in place for the non-oil sectors where strategic investment opportunities and partnerships with UAE companies are available for Italian companies and investors. She called on the private sectors in the ...  >>MORE

India-UAE trade hits US$30bn in first half

Posted on 03/10/2011

Trade between India and the UAE has increased to US$30 billion (Dh108bn) for the first six months of 2011. In 2010 trade between the two countries touched US$44.5 billion. Sanjay Varma, India's Consul General in Dubai said, "The first six months alone has witnessed trade between the two countries at two thirds of what was achieved the whole of last year," he said. According to him, clubbed with oil, the trade between the two countries could well reach US$80-90 billion annually. He was ...  >>MORE

Lubna Al Qasimi: UAE to adopt more strategic approaches in trade

Posted on 28/09/2011

Minister of Foreign Trade Sheikha Lubna Al Qasimi stated that the UAE Government Strategy for 2011-2013 aims for more strategic directions in trade and investment to maintain the country's' strong global standing. Plans are underway to optimise strategic infrastructure and enhance multi-modal transport, encourage more local entrepreneurism, create additional jobs, introduce long-term reforms and capitalise on the technical, trade and economic agreements the country has signed with more than 30 ...  >>MORE

Dubai Chamber study finds overall export trade increases despite Middle East unrest

Posted on 28/09/2011

During the first five months of 2011, Dubai's direct trade increased by 27% despite regional unrest affecting certain markets, a study by Dubai Chamber of Commerce and Industry has found. Dubai Chamber's members exports and re-exports increased by 17.1% in the first eight months of this year, with goods valuing Dh162.1 billion, in contrast with Dh138.4 billion during the same period in 2010. The study indicated that there was some affect to Dubai's exports and re-exports to certain key ...  >>MORE

Trade volume in Free Zones '&' Markets hits Dh101 billion in First Quarter

Posted on 26/09/2011

Trade volume in UAE free zones of 2011 first quarter reached approx. Dh101 billion, as against Dh84.6 billion at the same period in the last year, with an increase of Dh16.4 billion showing 19 percent growth. The Federal Customs Authority (FCA) announced in yesterday that the free zone trade of the first quarter of this year represents 31 percent of the total volume of the trade, referring to the fact that the total UAE trade volume (non-oil external trade and free zone trade) in the first ...  >>MORE

U.S. trade delegation concludes successful visit to UAE

Posted on 21/09/2011

The U.S. Commercial Small and Medium-sized Enterprise (SME) Defence Trade Mission to the United Arab Emirates (UAE) met this week with key American and Emirati government officials and local commercial authorities in Abu Dhabi. The delegation was hosted by the Offset Program Bureau (OPB), a UAE government agency established in 1992 under the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to ...  >>MORE

Mohammed bin Zayed meets the UK-UAE CEO Forum members

Posted on 20/09/2011

His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces received at Al Bateen Palace the UK-UAE CEO Forum members who took part at the UK-UAE CEO Forum held in Abu Dhabi yesterday. They included the UK Trade and Investment Minister Lord Stephen Green, Nasser bin Ahmed Al Suwaidi, Head of the Economic Development Department in Abu Dhabi, senior businesspersons and investors. Sheikh Mohammed welcomed the ...  >>MORE

UAE, UK reiterate commitment to boost bilateral trade

Posted on 20/09/2011

The UAE and Britain have reiterated their commitment to increasing the volume of bilateral trade between the two countries from the current 10 billion pounds to 12 billion pounds by 2015. This was stated in a joint statement issued at the end of the second meeting of joint economic commission between the UAE and UK held today in Abu Dhabi. The statement, jointly signed by UAE Minister of Economy Sultan Bin Saeed Al Mansouri and Britain's Minister of Trade and Investment Lord Stephen Green, ...  >>MORE

UAE-US trade ties continue to strengthen

Posted on 20/09/2011

The trade and investment relationship between the United States and the UAE continues to strengthen over the years making it one of the fastest growing US trade partnerships, according to a US diplomatic representative. Speaking to The Gulf Today on Monday, the US Consul General, Justin H. Siberell said the UAE remains the largest export market for the US in the Middle East/North Africa region, adding that the UAE is recognised in the region as a business-friendly country with a government ...  >>MORE

Abu Dhabi's non-oil trade surges

Posted on 20/09/2011

Abu Dhabi's non-oil trade surged 35.3 per cent in the second quarter compared with the same period last year, a report by the Abu Dhabi Statistics Department (Scad) showed. It also revealed that the total value of non-oil foreign trade for the second quarter rose by Dh8.99 billion (35.3 per cent) compared with the same period of 2010. According to the report, imports soared by Dh4.29 billion (20.1 per cent) in the second quarter while non-oil exports increased by Dh4.31 billion (more than ...  >>MORE

Dubai international trade of paper products jump to Dh2.2 billion by 16 percent

Posted on 15/09/2011

Dubai international trade in the field of paper and manufactured paper products grew by 16 percent in the period January- end of May this year as compared to the same period in 2010. The statistics issued by Dubai Customs revealed that the trade rate amounted to Dh2.2 billion during the first five months of 2011 as opposed to Dh1.9 billion in the same period of last year. This reflects the growth of the sector locally and the increasing reliance on Dubai as a major trade hub for re-exporting ...  >>MORE

Dubai Chamber urged to attract more international investors

Posted on 14/09/2011

Dubai is an attractive destination for international investment and is a platform for business in the wider Middle East region. As a result, Dubai Chamber members should launch more constructive programmes to attract global companies, His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said Tuesday. Sheikh Mohammad Tuesday visited the Dubai Chamber of Commerce and Industry where he was briefed on a number of national economic ...  >>MORE

Lubna takes part at 16th World Annual Investment Conference in Geneva

Posted on 07/09/2011

Geneva - Sheikha Lubna Al Qasimi, Minister of Foreign Trade has participated at the 16th World Annual Conference, which was organised by the World Association of Investment Promotion Agencies (WAIPA). The event was inaugurated yesterday in Geneva amid participation of a number of ministers, senior government officials, chief executive officers, representatives of investment promotion agencies, members of civil societies and academics. Sheikha Lubna presented the UAE's experience in attracting ...  >>MORE

Insure Direct (Brokers) LLC offers online insurance services to the users of Dubai Trade Portal

Posted on 06/09/2011

Insure Direct (Brokers) LLC, a member of end-to-end insurance solutions provider Brokerage World Solutions (BWS), and Dubai Trade, the premier trade facilitator under Dubai World, yesterday signed an agreement to provide innovative online insurance services to the trading community. The commercial agreement was signed by Mohammed Al Muallem, Member of Board of Directors, Dubai Trade, Kenneth G Maw, President and Group CEO, Brokerage World Solutions, and Saeed J. Al Qaizi, Director of ...  >>MORE

Non-oil UAE trade hits Dh370.3bn in five months with Dh71bn increase

Posted on 04/09/2011

UAE non-oil foreign trade continued growth for 5 months of 2011 compared to the same period of the last year. Federal Customs Authority (FCA) preliminary statistics show that UAE non-oil foreign trade has grown for the staid period by 24 per cent compared to the same period of the last year as Total non-oil Foreign Trade has grown from Dh299.2bn during the first 5 months of 2010 to Dh370.3bn in the same period of 2011, i.e., an increase of Dh71bn. In a press release issued yesterday, FCA ...  >>MORE

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Quick List

Lubna Al Qasimi stresses depth of UAE-Asian countries' cooperation ties


Non-oil UAE trade fetches Dh600 billion in eight months


Dubai total trade with the world exceeds Dhs814bn at the end of Q3 in 2011


Non-oil UAE trade grew 23% to Dh524 billion in 7 months, says FCA


UAE pledges to bolster China-Arab trade relations


UAE calls on WTO members to remove trade barriers


UAE-China trade will ride new growth opportunities


UAE-Sri Lankan trade relations on the right track


UAE, South African officials to expand economic relations


UAE food re-exports up by 16.5% in 2010


Several opportunities for economic cooperation with Turkmenistan, says UAE's Economy Minister


U.S eyes stronger commercial relationship with UAE, says Undersecretary of Commerce


Hatta border port to boost trade


Lubna Al Qasimi discusses trade and investment with France


GCC and France have viable economic partnership: Lubna


UAE, US to boost trade relations through TIFA


US-UAE trade, investment cooperation discussed


UAE, China to enhance trade, tourism and investment ties


Non-oil UAE H1 2011 hits Dh445 billion


Emirates Steel reports strong financial performance


Abu Dhabi non-oil foreign trade totals Dh109.2 billion: SCAD


UAE, Indonesia trade volume touches US$500 million in first five months of 2011


Dubai’s non-oil trade jumps 24%


UAE's foreign trade jumps 14% in 2010, says Ministry of Foreign Trade report


UAE companies win 24 Stevie Awards


Magnificent 7 UAE Expo in Karachi


Stronger UAE-Italy trade cooperation discussed


India-UAE trade hits US$30bn in first half


Lubna Al Qasimi: UAE to adopt more strategic approaches in trade


Dubai Chamber study finds overall export trade increases despite Middle East unrest


Trade volume in Free Zones '&' Markets hits Dh101 billion in First Quarter


U.S. trade delegation concludes successful visit to UAE


Mohammed bin Zayed meets the UK-UAE CEO Forum members


UAE, UK reiterate commitment to boost bilateral trade


UAE-US trade ties continue to strengthen


Abu Dhabi's non-oil trade surges


Dubai international trade of paper products jump to Dh2.2 billion by 16 percent


Dubai Chamber urged to attract more international investors


Lubna takes part at 16th World Annual Investment Conference in Geneva


Insure Direct (Brokers) LLC offers online insurance services to the users of Dubai Trade Portal


Non-oil UAE trade hits Dh370.3bn in five months with Dh71bn increase