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THE ECONOMY - TRADE

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

UAE is major economic partner to South Korea in Middle East

Posted on 30/08/2011

UAE Ambassador to South Korea Abdullah Khalfan Al Rumaithi has stressed keenness of the leadership in the UAE and South Korea to expand the strategic partnership to include the areas of oil, renewable energy, education, training, construction and building sectors, shipbuilding, semiconductors, telecommunications and information technology. He told Emirates News Agency (WAM) in an exclusive interview that the bilateral relations between the two countries have seen qualitative progress in ...  >>MORE

Dubai Direct exports to South Africa valued at Dh219million in 2010

Posted on 24/08/2011

Dubai Exports, an agency of the Department of Economic Development (DED) - Government of Dubai, hosted its largest delegation at Africa's Big Seven (AB7) exhibition held in Johannesburg, South Africa last month, with small and large UAE-based companies in the food '&' beverage and packaging industries. The delegation was also joined by government organisations such as Jebel Ali Free Zone (JAFZA) who sought trade opportunities for their member companies across the South African continent. ...  >>MORE

Dubai direct trade with the world reaches Dh289billion in five months

Posted on 22/08/2011

Dubai trade with the world maintained high rates of growth during the first five months of the current year as the total direct trade exchange reached over Dh289billion with an increase rate of 27% as compared to the same period of 2010 where value of trade exchanges were worth Dh228billion. Statistics issued by Dubai Customs on the first five months of 2011 shows growth in all sectors of direct trade between Dubai and the rest of the world which included exports, imports and re-exports. ...  >>MORE

UAE-UK trade set to rise despite market volatility

Posted on 18/08/2011

Trade between the UAE and the UK is set to increase despite the tough conditions in the global economy, Robert Kelly, deputy director of UK Trade and Investment in Abu Dhabi, told Gulf News. He said the UAE remained the UK's number one trading partner in the Middle East, with trade rising to nearly £9 billion (Dh33 billion) in 2010. This was strengthened by an agreement in 2009 by both countries to increase trade from the then figure of £7.5 billion to £12 billion by 2015. Kelly added that ...  >>MORE

Limited effects of developments in 5 Arab countries on the growth of the UAE's foreign trade, says new MoFT's study

Posted on 18/08/2011

The recent developments and changes in five Arab countries have had limited effects on the growth of the UAE's foreign trade in the first quarter of 2011, according to new study by the Ministry of Foreign Trade, or MoFT, shows. The study attributes the limited effect on trade with Egypt, Libya, Tunisia, Syria and Yemen "to many reasons, most important of which was that the volume of UAE's trade exchange with all of these countries accounted for less than 2% of the its total foreign trade in ...  >>MORE

Exports continue to increase fostering growth in Dubai's manufacturing sector

Posted on 18/08/2011

Dubai Exports, an agency of the Department of Economic Development (DED), Government of Dubai, revealed that in 2010, the Emirate had exported diverse products, including gold and precious metals, sugar, plastics '&' food, in various target export markets particularly in South and West Asia. An important conclusion of the report showed that in 2010, exports sustained the continuous growth trend, while imports to Dubai '&' Free Zone as well as re-exports have reversed the decline witnessed in ...  >>MORE

Non-oil UAE trade hits Dh297.3 billion in 4 months with 59.8 billion Increase

Posted on 16/08/2011

UAE non-oil foreign trade has been on the go for Q 1, 2011 compared to the same quarter of the last year. Federal Customs Authority (FCA) preliminary statistics show that UAE non-oil foreign trade has grown for the said period by 25% compared to the same period of the last year as total non-oil foreign trade has grown from Dh237.5 billion during Q 1, 2010 to Dh297.3 billion in Q 1, 2011, i.e., an increase of Dh59.8 billion. In a press release issued yesterday, FCA said that preliminary ...  >>MORE

Dubai Exports sees more companies exporting to Brazil in coming years

Posted on 04/08/2011

Dubai Exports, an agency of the Dubai Department of Economic Development (DED), Government of Dubai, having recently completed a successful trade mission to Sao Paolo and Rio De Janiero in Brazil is expecting more UAE companies to increase trade and their presence in Brazil through the close cooperation forged during the mission. The Mission is expected to see growth of the UAE's exports to Brazil in the coming years particularly in the sectors of finance, construction, and retail. In ...  >>MORE

Dubai Chamber members' exports and re-exports reach Dh120 billion in H1 2011

Posted on 04/08/2011

The value of exports and re-exports by Dubai Chamber of Commerce and Industry members reached Dh120.2 billion during the first six months of this year - an increase of 16.5 per cent compared to the same period in 2010. Dubai Chamber's half year data shows that its members' exports and re-exports between January and June 2011 were worth Dh17 billion more than the same period in 2010, when they were valued at Dh103.2 billion. The month with the highest value of exports and re-exports was ...  >>MORE

Tunisian President, Lubna Al Qasimi discuss cooperation

Posted on 31/07/2011

Tunis - Caretaker Tunisian President Fouad Al Mebazaa has received UAE Foreign Trade Minister Sheikha Lubna Al Qasimi at the conclusion of her visit to Tunisia, heading high profile trade and investment delegation. During the meeting the Tunisian President and Sheikha Lubna discussed the bilateral relations and ways to boost them, especially in the trade and investment areas. The two sides also tackled the results of the UAE delegation's visit to Tunisia. The UAE minister conveyed the regards ...  >>MORE

Sheikha Lubna opens UAE-Tunisian Partnership meeting

Posted on 28/07/2011

Tunis - Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi yesterday opened the The UAE-Tunisian Partnership Meeting in presence of Tunisian Trade '&' Tourism Minister Mahdi Hawas, Planning '&' International Cooperation Minister Abdel Hamid Al Teraiki and Finance Minister Jalool Ayad. The meeting was also attended by Emirati and Tunisian businessmen and diplomats. In her opening speech, Sheikha Lubna expressed appreciation and thanks to the Tunisian government for the warm ...  >>MORE

Dubai imports show opening for self-sufficiency

Posted on 24/07/2011

Copper, aluminium products and electrical appliances are among the most expensive items on Dubai's import bill and represent opportunities for the emirate to become a self-sufficient producer of locally manufactured goods, says a new report from Dubai Exports. The report identified 10 "substitution opportunities" where imports have surged by more than 25 per cent between 2005 and 2009, accounting for more than Dh360 million (US$98.01m) of yearly spending. "The Dubai Government realises the ...  >>MORE

UAE's foreign trade volume with South Africa increases by 21.7% to reach over US$1 billion in 2010

Posted on 20/07/2011

The UAE Ministry of Foreign Trade (MoFT) in cooperation with the Dubai Export Development Corporation successfully led a delegation of over 30 governmental departments, free zones and private businesses that took part under the UAE pavilion at Africa's Big Seven Exhibition, which was held in Johannesburg, South Africa from July 17 to 19, 2011. The event proved to be a major success for the UAE delegation, with the country's pavilion generating an overwhelming response from visitors who were ...  >>MORE

Dubai's non-oil trade surges

Posted on 14/07/2011

Dubai's non-oil trade with the world shot up by 30pc to reach worth Dh235bn in the first quarter of this year as compared to Dh180bn in the same period last year and Dh159bn in 2009. The latest figures released by Dubai Customs showed that Dubai's imports during the first quarter of the current year surged by more than 40pc with Dh29bn as compared to Dh20bn during the period from January to April in 2010. The re-exports also increased during this period by 38pc with a total value of more ...  >>MORE

UAE-Turkey trade volume rises in Q1

Posted on 11/07/2011

The total bilateral trade volume between the UAE and Turkey, stood over US$ 1.3 billion in the first quarter of this year, representing a 50 per cent increase compared to the same period in 2010. This was contained in a latest trade report released by Istanbul Chamber of Commerce (ICOC) on Sunday. The report further states that the two countries, were aiming for a 20 per cent increase in food trade between Turkey and the UAE. This will bring bilateral food trade between the two countries to ...  >>MORE

UAE's non-oil trade grows 14% year-on-year in 2010, says new report

Posted on 06/07/2011

Non-oil foreign trade of the United Arab Emirates (UAE) in 2010 witnessed significant growth of 14% year-on-year, according to Ministry of Foreign Trade (MoFT) in a new report. MoFT's new report shows that the UAE foreign non-oil trade grew by 14% (or Dh94 billion) year-on-year, jumping from Dh660.4 billion in 2009 to Dh754.4 billion in 2010. MoFT said the report which was prepared by researcher Dr. Abdul Hameed Redwan and supervised by Dr Mattar Ahmed Al Ali, Director of MoFT's Department ...  >>MORE

UAE to forge closer ties with Italy

Posted on 29/06/2011

The UAE Minister of Economy Sultan Bin Saeed Al Mansoori lauded the results of the recent meeting of the UAE-Italian Joint Economic Committee, and announced the formation of an integrated mechanism to follow-up the recommendations of the Committee and strengthen bilateral relations between the UAE and Italy. The Committee had met in the Italian city of Verona and signed an agreement. Al Mansoori said the follow-up mechanism will ensure direct communication with Italian officials through ...  >>MORE

Dubai scores record growth in direct trade in first quarter of Dh183bn

Posted on 29/06/2011

Dubai Customs announced a new record growth rate in Dubai direct trade exchange with the world by the end of the first annual quarter of 2011 to 34%. This year, it exceeded Dhs183bn as compared to Dh136bn for the same period last year. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General stated that the statistics issued by the end of the first three months of this year demonstrated a rise in the weight of the exchanged goods in ...  >>MORE

Sheikha Lubna underlines importance of sustainable business practices

Posted on 23/06/2011

UAE Minister of Foreign Trade Sheikha Lubna Al Qasimi emphasised the need for businesses in the region to adopt sustainable business practices. She was addressing the ceremony for the distribution of the Coca-Cola Eurasia and Africa Group President's Sustainability Awards 2011, held in Dubai. The ceremony in Dubai marked the first time the event was taking place in the Middle East. Sheikha Lubna said, "Sustainability is a business imperative and sustainable practices allow businesses to ...  >>MORE

Dubai private sector exports, re-exports reach Dh100b

Posted on 23/06/2011

Exports and re-exports by Dubai's private sector increased 17 per cent to Dh100 billion in the first five months of 2011, compared to Dh85 billion in the corresponding period last year, according to the Dubai Chamber of Commerce and Industry. "This is extremely positive news for Dubai's economy," Abdul Rahman Saif Al Ghurair, Chairman of the Chamber, said while presiding over the second Economic Seminar of the year held at the Chamber Wednesday. May's figure of Dh22 billion was the highest ...  >>MORE

UAE wins "Best Pavilion Award " in Import Goods Fair 2011

Posted on 15/06/2011

Seoul - The UAE has won the "Best Pavilion Award" during its participation in the Import Goods Fair 2011 here in the Korean capital, Seoul. A number of UAE companies took part in the fair which was organised by the UAE Ministry of Foreign Trade, that also contributed to the strong presence of UAE companies in the exhibition. The UAE is the second largest export market for South Korea in the Middle East while Korea is one of the largest investors in the goods and services area in the country, ...  >>MORE

Jordan harbours high esteem for UAE for economic and political support: Jordan's Speaker

Posted on 06/06/2011

Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research, and visiting Jordan's Speaker of House of Representatives Faisal Al Fayez explored yesterday ways of further enhancing strong ties between the UAE and Jordan for the best interest of the two brotherly peoples. Al Fayez affirmed that his country views the UAE with high respect and gratitude for its stand besides Jordan politically and economically, noting that the UAE was among the first aid donors to ...  >>MORE

Lubna Al Qasimi: UAE will play a greater role in helping Bangladesh achieve its growth objectives

Posted on 06/06/2011

UAE Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi said here yesterday that the UAE would like to play a greater role in helping Bangladesh achieve its growth objectives under its Vision 2021 plan. She was speaking opening the Emirati-Bangladeshi Business Forum organised by the Federation of Bangladesh Chamber of Commerce and Industries. A number of ministers in Bangladesh government including ministers of Trade, Finance and Labour, and president of the Federation of ...  >>MORE

UAE, UK set to double trade exchange

Posted on 05/06/2011

Economy Minister Sultan bin Saeed Al Mansouri met in Abu Dhabi yesterday with British Minister of State for Foreign and Commonwealth Affairs Lord David Howell and discussed with him ways to enhance economic relations, as well as the progress of implementation of the points agreed during last meeting of the two countries joint economic committee. The two sides also reviewed the planned increase in trade exchange between the UAE and the UK from its current volume of 7 billion Sterling pounds ...  >>MORE

UAE, Australia keen to boost commercial cooperation

Posted on 05/06/2011

Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi and Prime Minister of West Australia State Colin Barnett have discussed ways to enhance bilateral relations between the UAE and the State of West Australia and cooperation in the business, investment and commercial fields. Sheikha Lubna praised the growth in non-oil trade between UAE and Australia which rose last year by 17.3 percent to US$2.2 billion. For his part, Barnett said his government was greatly interested in the UAE's ...  >>MORE

UAE imports 98 per cent cucumbers from outside of European Union, Ministry of Foreign Trade

Posted on 05/06/2011

Ministry of Foreign Trade (MOFT), says that 98% of all Cucumber imports into the UAE come from outside of the European Union (EU), leaving only 2% that do come from the economic bloc. According to the data of the ministry released yesterday the two European countries that the UAE imports cucumbers are Spain and Holland, with no such imports from Germany or Denmark, which are the two countries that the Ministry of Environment and Water has imposed a temporary cucumber imports ban on as a ...  >>MORE

Lubna Al Qasimi, British Minister discuss cooperation

Posted on 01/06/2011

UAE Foreign Trade Minister Sheikha Lubna Al Qasimi discussed here yesterday with British Minister of State of the Foreign and Commonwealth Office Lord David Howell, the trade and investment cooperation. The two sides also discussed the economic developments between the two countries and the investment opportunities provided by the strategy of economic diversification in the UAE, especially in the sectors of renewable energy, industry and technology, as well as the developments in the ...  >>MORE

UAE signs agreement on Multimodal Transport of Goods among Arab countries

Posted on 01/06/2011

The UAE yesterday signed the Agreement on Multimodal Transport of Goods among Arab countries at the Arab League (AL) headquarters in the Egyptian capital, Cairo. Mohammed bin Nakhera Al Dhahiri, UAE Ambassador to Cairo and Permanent Representative at the Arab League, who signed the agreement with Redwan bin Khadra, Director of AL's Legal Department, affirmed the UAE's commitment to supporting joint Arab action in all sectors, particularly economy. He said the agreement would contribute to ...  >>MORE

UAE-Turkey trade at US$2.782b in 2010

Posted on 31/05/2011

Non-oil trade exchange between the United Arab Emirates (UAE) and Turkey made significant growth over the past few years from US$2.074 billion in 2006 to US$7.999 billion in 2008, said Ministry of Foreign Trade (MoFT) in its new study released yesterday. The study noted that volume of trade exchange between the two countries retreated to US$2.847 billion in 2008 and again to US$2.782 billion in 2010. The study which was conducted by researcher Ahmed Al-Ananbeh of MoFT's Department of Analysis ...  >>MORE

UAE non-oil trade hits Dh70.9 billion in Feb. 2011

Posted on 29/05/2011

The UAE non-oil foreign trade achieved a breakthrough growth of 28% Y-o-Y in February 2011. The preliminary statistical data of FCA confirmed that the UAE non-oil foreign trade jumped Dh15.3 billion to Dh70.9 billion from Dh55.6 billion in the year-ago period. In a press release issued yesterday, the FCA announced that the preliminary statistical data for Feb. 2011 reflected a 24% rise in imports to Dh45.5 billion as compared to Dh36.8 billion in February 2010. The exports recorded a ...  >>MORE

Dubai-Japan trade at Dh26b in 2010

Posted on 29/05/2011

The volume of Dubai's non-oil trade with Japan reached Dh26 billion at the end of 2010, which is 2.7 per cent higher than the 2009 figures. Japan is a major trading partner of Dubai as the country ranked 9th on the list of the Emirate's top trading partners in 2010. Dubai is home to 122 Japanese partnership and full ownership companies registered with Dubai Chamber. A recent Dubai Chamber of Commerce and Industry study (DCCI) dealing with the Japanese earthquake, its economic cost, ...  >>MORE

Trade volume of Free Zones in the UAE stood at Dh352.8 billion in 2010

Posted on 22/05/2011

The total trade volume in UAE free zones and markets grew 23 per cent Y-o-Y to approximately Dh352.8 billion in 2010, of which imports accounted for Dh201.4 billion, while exports and re-exports reached Dh151.4 billion. The total UAE trade volume (non-oil foreign trade and free zones trade) amounted to nearly Dh1.1 trillion in 2010, of which imports hit Dh754.3 billion, while exports and re-exports contributed Dh352.8 billion. The Federal Customs Authority (FCA) announced at a press ...  >>MORE

UAE emerges as largest export market for US products in GCC in 2010, DCCI's reports says

Posted on 19/05/2011

The UAE has replaced Saudi Arabia as the largest GCC market for US exports last year, the latest study by Dubai Chamber of Commerce and Industry has revealed. US exports to the UAE reached a total of US$11.64bn in 2010, compared to US$11.59bn to Saudi Arabia, the study found. Meanwhile, US exports to Qatar valued US$3.2bn, to Kuwait US$2.8bn, to Bahrain US$1.2bn and to Oman US$1.1bn. The study, quoting the US Census Bureau, further revealed that US trade with GCC countries increased during ...  >>MORE

Dubai's international trade rises 31% and reaches Dh113bn in the first two months of 2011

Posted on 19/05/2011

Dubai's non-petroleum direct international trade during the first two months of this year showed a hike of 31% (valued at Dh113bn) compared to Dh86bn for the same period last year. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone, Director General of Dubai Customs, explained that the statistics information report announced by Dubai Customs at the end of last February showed a highest trade value record during the first 2 months of this year compared to the same period of ...  >>MORE

UAE-China direct non-oil trade hits Dh46b

Posted on 15/05/2011

With around 3,000 Chinese companies operating in the UAE and a huge community of 200,000 Chinese residents, direct non-oil trade exchange between Dubai and China has hit 16 per cent over the last five years, it was revealed. The announcement was made by Ahmed Butti, Executive Chairman of Ports, Customs and Free Zone, while launching the ERTIBAT (Interrelation) project between Dubai Customs and the Chinese Business Council. The meeting saw the presence of China Consul General in Dubai Zan ...  >>MORE

UAE, Armenia to enhance bilateral cooperation

Posted on 12/05/2011

Minister of Foreign trade Sheikha Lubna bint Khalid Al Qasimi discussed here yesterday with Armen Gevorgyan, Vice Prime Minister of the Republic of Armenia, ways to enhance commercial and investment cooperation between the two countries. The meeting was held on the sidelines of the Annual International Investment Forum. The two sides expressed satisfaction at the growing trade exchange between the two countries which surged last year to US$99 million from US$70 million in 2009. The Armenian ...  >>MORE

Dubai Airport Freezone contributes Dh52bn to total trade volume in Dubai

Posted on 12/05/2011

Dubai Airport Freezone recorded a significant contribution of Dh52bn to the total volume of Dubai trade in 2010. This represents 5.8% of the total volume, according to study released by the Dubai Airport Freezone. The total exports from Dubai were Dh355bn, out of which Dubai Airport Freezone contributed Dhs21.652bn constituting 6%. The overall imports into Dubai were Dh547bn, of which Dh30.64bn representing 5.6% was contributed by Dubai Airport Freezone. The efficiency per square meter from ...  >>MORE

FDI Foreign direct investment in the UAE to soon reach previous peak

Posted on 11/05/2011

Foreign Direct Investment (FDI) in the UAE is believed to have reached US$13.7 billion (Dh50.32 billion) in 2010, Alessandro Golombiewski Teixeira, president of the World Association for Investment Promotion Agencies, said at the Annual Investment Meeting (AIM) being held in Dubai. However, according to the UAE Ministry of Foreign Trade, FDI in the UAE was as high as US$15 billion. Teixeira said: "The FDI in the UAE is expected to get back to its peak of a few years ago." He added that ...  >>MORE

Lubna, Tatarstan President discuss cooperation and relations

Posted on 11/05/2011

Sheikha Lubna bint Khaled al Qasimi, the Minister of Foreign Trade discussed yesterday with Rustam Nurgaliyevich, the President of the Russian Federation's Republic of Tatarstan, bilateral ties and the opportunities to increase bilateral commercial and investment cooperation. Sheikh Lubna pointed out to the UAE's keenness on boosting cooperation with the Republic in commercial and economic fields, stressing on the importance of ensuring continued communication to explore investment ...  >>MORE

UAE-Brazilian trade relations discussed

Posted on 11/05/2011

UAE Minister of Foreign Trade Sheikha Lubna bint Khaled al Qasimi on Tuesday held talks with Brazilian Deputy Minister of Development, Industry, '&' Trade to discuss UAE-Brazilian economic, investment and trade relations and opportunities for cooperation between the private sectors of both countries. The meeting also discussed the Annual Investment Meeting AIM, which kick started in Dubai yesterday, what offering to stimulate investment flow between the UAE and Brazil and in the world in ...  >>MORE

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Quick List

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


UAE is major economic partner to South Korea in Middle East


Dubai Direct exports to South Africa valued at Dh219million in 2010


Dubai direct trade with the world reaches Dh289billion in five months


UAE-UK trade set to rise despite market volatility


Limited effects of developments in 5 Arab countries on the growth of the UAE's foreign trade, says new MoFT's study


Exports continue to increase fostering growth in Dubai's manufacturing sector


Non-oil UAE trade hits Dh297.3 billion in 4 months with 59.8 billion Increase


Dubai Exports sees more companies exporting to Brazil in coming years


Dubai Chamber members' exports and re-exports reach Dh120 billion in H1 2011


Tunisian President, Lubna Al Qasimi discuss cooperation


Sheikha Lubna opens UAE-Tunisian Partnership meeting


Dubai imports show opening for self-sufficiency


UAE's foreign trade volume with South Africa increases by 21.7% to reach over US$1 billion in 2010


Dubai's non-oil trade surges


UAE-Turkey trade volume rises in Q1


UAE's non-oil trade grows 14% year-on-year in 2010, says new report


UAE to forge closer ties with Italy


Dubai scores record growth in direct trade in first quarter of Dh183bn


Sheikha Lubna underlines importance of sustainable business practices


Dubai private sector exports, re-exports reach Dh100b


UAE wins "Best Pavilion Award " in Import Goods Fair 2011


Jordan harbours high esteem for UAE for economic and political support: Jordan's Speaker


Lubna Al Qasimi: UAE will play a greater role in helping Bangladesh achieve its growth objectives


UAE, UK set to double trade exchange


UAE, Australia keen to boost commercial cooperation


UAE imports 98 per cent cucumbers from outside of European Union, Ministry of Foreign Trade


Lubna Al Qasimi, British Minister discuss cooperation


UAE signs agreement on Multimodal Transport of Goods among Arab countries


UAE-Turkey trade at US$2.782b in 2010


UAE non-oil trade hits Dh70.9 billion in Feb. 2011


Dubai-Japan trade at Dh26b in 2010


Trade volume of Free Zones in the UAE stood at Dh352.8 billion in 2010


UAE emerges as largest export market for US products in GCC in 2010, DCCI's reports says


Dubai's international trade rises 31% and reaches Dh113bn in the first two months of 2011


UAE-China direct non-oil trade hits Dh46b


UAE, Armenia to enhance bilateral cooperation


Dubai Airport Freezone contributes Dh52bn to total trade volume in Dubai


FDI Foreign direct investment in the UAE to soon reach previous peak


Lubna, Tatarstan President discuss cooperation and relations


UAE-Brazilian trade relations discussed