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THE ECONOMY - TRADE

UAE-Venezuela trade grows

Posted on 03/01/2011

Trade between Venezuela and the UAE has increased, despite the global recession, the Venezuelan Ambassador to the UAE told Gulf News. Exports from Venezuela to the UAE increased by 13.30 per cent in 2009 compared to a year earlier, Lenin Bandres Herrera said in an interview. Figures for 2010 have not been compiled yet, he added. "Although the economic meltdown had a minor effect last year, we did not find any major impact," Herrera said. Ever since the UAE and Venezuela opened trade ...  >>MORE

Robust trade drives Dubai economy

Posted on 02/01/2011

Dubai trade remains robust, showing consistent signs of improvement in 2010, latest result released by Dubai authorities confirmed. Comparing it to the first nine months in 2009, UAE non-oil trade jumped to Dh540 billion in September 2010, growing 11 per cent. Exports increased by 39 per cent, re-exports rose by 19 per cent while imports recorded a 5 per cent increase, according to the latest statistics released by the Federal Customs Authority (FCA). This result points to an export sector ...  >>MORE

Lubna, Herat Governor discuss cooperation

Posted on 30/12/2010

Minster of Foreign Trade Sheikha Lubna Al Qasimi and Afghanistan's Herat Provincial Governor Dr. Daud Saba discussed ways to increase joint investments and trade exchange between the two countries. In remarks at the meeting, the minister reaffirmed the UAE's keen interest to further promote relations with Afghanistan. In a presentation she gave on the UAE's economic strategy and plans, the minister noted that efforts to diversify the economy raised the share of non-oil sectors in the ...  >>MORE

Sheikha Lubna inaugurates UAE-Syrian Businessmen Forum

Posted on 29/12/2010

UAE Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi and Syrian Minister of Finance Dr. Mohammad Al-Hussein here yesterday inaugurated the "UAE-Syrian Businessmen Forum.” Syrian Minister of Economy and Trade, Lamia Asi and a number of Syrian ministers, businessmen and members of the Emirati delegation were present on the occasion. In her speech during the opening ceremony, Sheikha Lubna confirmed the strong relations between UAE and Syria and keenness to boost them in various ...  >>MORE

Lubna Al Qasimi discusses trade cooperation with Syria

Posted on 28/12/2010

UAE Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi and Syrian Prime Minister Mohamed Naji al-Otari discussed here yesterday, bilateral relations between UAE and Syria and proposals to develop bilateral trade and investment cooperation. Sheikha Lubna is currently on a visit to Syria at the head of a delegation consisting of 45 members representing various industries. She stressed the keenness of UAE in enhancing cooperation between the two countries, especially in the fields ...  >>MORE

UAE non-oil trade jumps to Dh540 billion in Sept. 2010

Posted on 27/12/2010

The UAE non-oil foreign trade achieved positive growth rates during the first nine months of 2010 and the total volume of the UAE non-oil foreign trade maintained its growth as compared to the same period last year. According to Federal Customs Authority (FCA) the State's total non-oil foreign trade from January to September 2010 increased about 11 per cent Y-o-Y. The preliminary statistical data of FCA confirmed that the total volume of UAE non-oil foreign trade for the same period ...  >>MORE

Sweden eyes stronger relations with UAE, supports EU-GCC FTA agreement

Posted on 26/12/2010

Stockholm - Swedish officials have expressed their country's desire for wider trade and investment relations with the UAE and for a stronger presence in the Gulf country for Swedish businesses seeking to further expand into the whole Gulf region. "We see many good reasons to deepen our cooperation with the GCC and the UAE through and beyond a Free Trade Agreement," Josa Karre, Desk Officer, Middle East and North Africa Department, Ministry for Foreign Affairs told WAM. "Sweden warmly ...  >>MORE

Lubna Al Qasimi says UAE is a model for economies

Posted on 22/12/2010

The Arab Business Councils Forum was held in Dubai last night [Monday] under the patronage of the Minister of Foreign Trade, Sheikha Lubna bint Khalid Al Qasimi. The event, which was organised by the Jordan Business Council, saw the attendance of many accredited Arab Ambassadors and Consuls and the heads and presidents of Arab business councils in Dubai and the representatives of a number of local authorities in the UAE. In her speech at the Forum, Sheikha Lubna bint Khalid Al Qasimi ...  >>MORE

UAE: top trade partner to Saudi Arabia in 2010

Posted on 20/12/2010

Riyadh - The UAE emerged as the top trade partner to Saudi Arabia in 2009, according to Saudi official figures. Department of General Statistics and Information said Saudi Arabia imported goods from the GCC fellow countries at SR 17.5 billion in 2009 with the UAE taking the lion's share at SR 10.9 billion or 3.1 per cent of total imports. Worldwide, the UAE became the largest ten supplier to Saudi Arabia. For exports, the UAE was the major market for Saudi exports in the GCC accounting for 4.4 ...  >>MORE

Lubna Al Qasimi meets premier of Helen Zille, the Prime Minister

Posted on 15/12/2010

Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi met yesterday with Helen Zille Prime Minister of the Western Cape, South Africa and a delegation accompanying her. They discussed ways for further developing the bilateral ties between UAE and South Africa, and the mechanism for increasing trade between the two countries. They also discussed the possibilities of setting up joint investment projects in various sectors. – Emirates News Agency, WAM ...  >>MORE

Dubai Direct Exports record 35% increase for first three quarters of 2010

Posted on 15/12/2010

The UAE is striving to become one of the leading exporting countries in the world, Engineer Saeed Al Awadi, Chief Executive Officer, Dubai Exports (EDC), an agency of the Government of Dubai's Department of Economic Development (DED), said. "Although this vision is still distant due to a major challenge posed by the dumping policy of some major industrial countries and with their long history in manufacturing that is hard to compete with, yet our government is willing and able to overcome ...  >>MORE

Dubai's trading sector remains robust, driven by strong logistics infrastructure

Posted on 13/12/2010

Dubai is still the preferred destination for trading among countries globally, according to Al Fajer Information and Services, the organiser of the 25th edition the International Autumn Trade Fair (IATF10), which is taking place from December 13 to 15, 2010, at the Dubai International Convention and Exhibition Centre. At a press conference unveiling details of the show, it was revealed that countries around the world still look at Dubai as the preferred business destination, thanks to the ...  >>MORE

UAE spent US$2.89 billion on imports from Turkey, while exporting goods worth US$291 million

Posted on 12/12/2010

In 2009, the UAE spent US$ 2.89 billion on iron and steel rods, jewellery, petroleum and semi-finished products of steel and iron imports from Turkey, while earning US$291 million from exports in gold, unprocessed aluminium, jewellery, chemical substances and petroleum to Turkey, excluding oil exports, according to Istanbul Chamber of Commerce (ICOC), one of the largest chambers of commerce in the world with more than 300,000 active members. Twenty exhibitors from Turkish private sector will ...  >>MORE

Dubai customs: non-oil trade grew 19% to Dh425billion over 3 quarters

Posted on 12/12/2010

Dubai's direct non-oil trade has continued its increase at the end of the third quarter of 2010. It has reached Dh425 billion, with an increase of 19% compared to the same period in the last year that generated 358 billion dirhams. Ahmed Butti, the Executive Chairman of Ports, Free Zone and Customs Corporation, General Director of Dubai Customs, in an emailed statement, said that all Dubai's non-oil trade indicators have showed positive results during the period from January to September ...  >>MORE

Sheikha Lubna opens UAE-Brazilian Business Forum

Posted on 06/12/2010

UAE Minister of Foreign Trade Lubna Bint Khalid Al Qasimi, in the presence of Brazil's Minister of Development, Industry and Foreign Trade Miguel Jorge, opened in Abu Dhabi yesterday the UAE-Brazilian Business Forum. The Brazilian Minister is leading a delegation composed of over 100 business persons and industrialists in various sectors. In her opening speech, Sheikha Lubna alluded to the depth of the evolving trade partnership between the United Arab Emirates and Brazil and the promising ...  >>MORE

US Under Secretary of Commerce alludes to the role of UAE as a strategic trade partner

Posted on 04/12/2010

Washington, D.C. - Francisco J. Sanchez, Undersecretary of the U.S. Department of Commerce for International Trade, said that UAE will continue to play an important role in the scope of the efforts to promote the National Export Initiative (NEI) launched by President Barack Obama to double American exports by 2015, in terms of providing the local market thanks to the ideal location of UAE and its position as a hub of global trade. Sanchez added that NEI put trade promotion at the top of the ...  >>MORE

Dubai Chamber braces to implement the ATA Carnet system soon

Posted on 30/11/2010

In view of the advantages associated with the implementation of the ATA Carnet System for GCC Member States, particularly the UAE and Dubai businesses, the Dubai Chamber of Commerce and Industry (DCCI) is organising a three-day workshop from November 28 to November 30 at the Address hotel in Dubai. Organised in close cooperation with the International Chamber of Commerce (Asia) and the UAE Federal Customs Authority, the third ATA Carnet workshop held within a year's time follows the UAE's ...  >>MORE

MoFT releases study on UAE-UK trade and investment relations

Posted on 25/11/2010

Trade between the United Arab Emirates (UAE) and the United Kingdom (UK) advanced to more than US$6.2 billion in the first half of the year with exports to the UAE reaching US$ 2.8 billion and the total UAE exports, including non-oil exports and re-exports, to the UK in the same period outperforming the whole previous year 2009, a new study by the Ministry of Foreign Trade (MoFT) revealed. UAE's non-oil exports to the UK reached US$116 million and re-exports totalled US$316mn in the first ...  >>MORE

UAE-India's non-oil trade exchange grew by 57% to US$0.4 billion in H1: MoFT study

Posted on 22/11/2010

The United Arab Emirates (UAE) is India's largest trading partner in term of India's total trade exchange in the first half of this current year 2010, according to a new study released by the Analysis and Trade Information Department at the Ministry of Foreign Trade (MoFT) on the occasion of the current state visit by President of India Mrs. Pratibha Devisingh Patilto to the United Arab Emirates. Non-oil trade exchange between the UAE and India grew by 57%, compared to the same period in ...  >>MORE

Abu Dhabi to create investment agency

Posted on 21/11/2010

Abu Dhabi is in the process of creating a body that will work for attracting capital into the emirate as part of its long-term development strategy that focuses on luring in foreign investment, Abu Dhabi's top economy official has said. The emirate is also planning to establish an export promotion agency (EPA) with the aim of expand non-oil exports and ensure sustainable growth away from unpredictable crude export earnings, said Nasser Al Suwaidi, Chairman of the Abu Dhabi Department of ...  >>MORE

Pearl trade exposes UAE to foreign markets: Al Owais

Posted on 15/11/2010

The Arabian Gulf pearl trade enriched the social, economic, and cultural life in the region and exposed the UAE pearl traders to the international markets, Abdul Rahman Mohammed Al Owais, Minister of Culture, Youth and Community Development, said yesterday. 'Pearl opened a world gateway to the people of the region as they dived in seas to catch it and went as far as India and Paris and other countries in the east and west of the world to promote pearl trade,' Al Owais in his opening address at ...  >>MORE

Abu Dhabi's foreign trade reaches Dh425 billion in 2009

Posted on 14/11/2010

Abu Dhabi's foreign trade shrunk to Dh425 billion in 2009, down from Dh487 billion in 2004, according to the latest report by Department of Economic Development's studies Directorate. Abu Dhabi's oil exports dropped in 2009 by 18.7% year-on-year to Dh313 billion as oil prices fell due to the shrinking global demand on oil. Non-oil exports showed a healthy growth of 51.96% year-on-year to Dh9.501 billion in 2009, while re-export of non-oil commodities in 2009 went up to Dh8.695 billion, with ...  >>MORE

Ministry of Foreign Trade discusses investment opportunities with Jersey Finance

Posted on 11/11/2010

Abdullah Ahmad Al Saleh, the Director General of the Ministry of Foreign Trade, discussed with Geoff Cook, the Chief Executive of Jersey Finance, various investment opportunities in the UAE and means by which to benefit from the country's diverse economic growth. Jersey Finance is the joint government / private sector body responsible for promoting the finance industry of the Island of Jersey, one of the British Channel Islands. Al Saleh underlined the willingness of the Ministry of Foreign ...  >>MORE

Lubna, EU official discuss cooperation

Posted on 11/11/2010

UAE Foreign Trade Minister Sheikha Lubna Al Qasimi discussed in Abu Dhabi yesterday with Luigi Narbone, Head of European Union Commission at GCC, the trade relations between the UAE and EU and ways to boost the economic partnership between the two sides. Sheikha Lubna stressed during the meeting held at the ministry keenness of the UAE to strengthen the trade ties with EU and enhancement of investment cooperation in different areas. The minister cited benefit gains by EU from the trade ...  >>MORE

Lubna al Qasimi and Swedish Foreign Minister discuss trade and investment relations

Posted on 10/11/2010

Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, and the Swedish Minister of Foreign Affairs, Carl Bildt, discussed bilateral relations and ways to strengthen them in the fields of trade and investment. Both sides reviewed world economic developments and signs of international trade recovery. Sheikha Lubna said that the UAE economy has great and promising opportunities to raise the pace of trade and investment cooperation, pointing out opportunities provided by the UAE's ...  >>MORE

Al Hameli: Italy is UAE's second largest global trade partner

Posted on 10/11/2010

Minister of Energy Mohammed Bin Dhaen Al Hameli spelt out his hope that the visit by the Italian Minister of Foreign Trade Adolfo Urso will usher in a new era of cooperation between UAE and Italy. Addressing the Italian Business Forum in Abu Dhabi yesterday, Al Hameli also noted that the Bilateral trade between the two countries fluctuated between USD 5.2bn - 8.2bn in the years 2008 and 2009 respectively. More importantly, Italy remained the UAE's second largest trade partner in spite of the ...  >>MORE

UAE has 51 customs outlets

Posted on 08/11/2010

The UAE is served by 51 customs outlets through which all its commercial activity and traffic movement are handled, making it one of the largest business hubs in the region, officials said on Sunday. Dubai has the largest number of land, air and sea outlets, standing at 16, followed by Abu Dhabi which has 12, the officials from the Abu Dhabi Department of Economic Development said during a symposium. Customs outlets stood at 10 in Sharjah, eight in Ras Al Khaimah, three in Fujairah and one ...  >>MORE

Armenian President receives Sheikha Lubna Al Qasimi

Posted on 07/11/2010

Yerevan - Armenian President Serzh Sargsyan has received the UAE Foreign Trade Minister Sheikha Lubna Al Qasimi in the Armenian Capital, Yerevan. The UAE minister arrived in Armenia, heading high profile 50 officials and entrepreneurs to participate at the first Armenian-UAE business conference. During the meeting the Armenian President and Sheikha Lubna discussed the bilateral relations and ways to bolster them, especially in the areas of trade and investment. She conveyed the regards of ...  >>MORE

Foreign Trade Minister: UAE economic strategy boosts productive sectors

Posted on 07/11/2010

Yerevan - The UAE's economic diversification strategy has driven the contribution of non-oil sectors to 71% of the UAE's GDP, up from 63% in 2008. "The strategy which provides for strengthening high value-added sectors seen as a driver for diversification has resulted in the surge and boosted growth and development", she said. Speaking at a meeting with students from the University of Yerevan, Al-Qasimi said the UAE is now the Middle East's top trade hub and now is the world's 16th best ...  >>MORE

Al-Qasimi, Armenian PM discuss trade cooperation

Posted on 04/11/2010

Yerevan - UAE Minister of Foreign Trade Sheikha Lubna Al Qasimi and Armenian Prime Minister Tigran Sargsyan have discussed trade and investments relations between their two countries. Sheikha Lubna conveyed to Sargsyan greetings from Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum. Sheikha Lubna is leading a delegation of around 50 business leaders and officials to Armenia to participate in the UAE- Armenia business forum which ...  >>MORE

Dubai non-oil trade continues growth to reach Dh377 billion in August

Posted on 02/11/2010

Dubai non-oil trade continued to grow to reach Dh377 billion with 18 per cent of increase rate by the end of August 2010 compared to Dh320 billion during the same period last year. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General, said that there are a number of factors which contributed to this rise in Dubai international trade exchange; especially with the huge logistic services the emirate provides and its advanced ...  >>MORE

World Trade Organisation’s Director commends UAE on issuance of voluntary trade policy review

Posted on 26/10/2010

The Director General of the World Trade Organisation [WTO], Pascal Lamy, commended the United Arab Emirates' issuance of the "2010 Trade Policy Review" [2010 TPR], which was prepared by the Ministry of Foreign Trade last August. Lamy's remarks came in a letter of appreciation addressed to Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, regarding the issuance of the voluntary report that showcases the UAE's foreign trade policy outside of the regular TPR framework, setting a ...  >>MORE

UAE ranks second worldwide in HSBC Trade Confidence Index

Posted on 25/10/2010

Traders in the Middle East reported high levels of confidence in the market once again, according to the HSBC Trade Confidence Index released in the region yesterday. The UAE results showed a slight drop from the first half of the year, when the Emirates reported the highest levels of confidence globally, to report an index score of 125, in second place behind India. Saudi Arabia registered a score of 118, above the global average of 116, and in line with the overall emerging markets average ...  >>MORE

Dubai exporters show optimism

Posted on 24/10/2010

Majority of exporters in Dubai believe the emirate will continue to grow, with profit expectations also high for the fourth quarter of the year, according to the first survey unveiled by the Department for Economic Development, or DED. The DED on Saturday launched an Exporter Confidence Survey, the first of its kind in the country, and is part of the DED's initiative of an extensive programme of conducting regular business surveys to know the business community's sentiments. "The survey ...  >>MORE

Lubna Al Qasimi discusses cooperation with Japanese bank

Posted on 21/10/2010

UAE Minister of Foreign Trade Sheikha Lubna Al Qasimi and Executive Director of The Japan Bank for International Co-operation (JBIC) Fumio Hoshi discussed yesterday, ways of strengthening relations between the two countries and increasing Japanese investments and funding operations for Emirati projects. At a meeting held at the Ministry headquarters in Abu Dhabi, they also reviewed the investments opportunities existing in the UAE and explored the possibility of Japanese companies stepping up ...  >>MORE

UAE trade prospects for 2011 shows upward trajectory

Posted on 17/10/2010

A recently released Dubai Chamber of Commerce '&' Industry study shows that the UAE was among the major 30 merchandize exporters and importers globally in 2008 and 2009. The country maintained its 2008 rank as the 19th merchandize exporter globally in 2009, with shipments worth US$175bn which is lower than 2008 shipment value of US$232bn. However, the country has managed to maintain its share in world exports of 1.4% in 2008 and 2009. In light of the global trade, which during the last two ...  >>MORE

Japan's imports from UAE reach Dh60b

Posted on 14/10/2010

Japan's imports from the UAE reached Dh60 billion in the first half of 2010, representing a 55.3 per cent growth against the same period last year, according to figures from Japan Customs presented Wednesday at the Dubai Chamber Country Focus on Japan. Exports to the UAE grew by a modest 12 per cent to 326 billion yen (Dh14.6 billion). Trade with the UAE accounted for about 4.5 per cent of Japan's world imports and 1 per cent of exports, the report said. Japanese imports of oil from the ...  >>MORE

Lubna Al Qasimi discusses trade cooperation with Syria

Posted on 12/10/2010

UAE Trade Minister Sheikha Lubna Al Qasimi has discussed with Dr Beshir Qadoor, Charge d' Affairs of the Syrian Embassy in the UAE, ways to bolster bilateral relations, especially in the area of trade. The two sides lauded today in a meeting held at the ministry in Abu Dhabi, distinguished relations between the UAE and Syria in all fields. Sheikha Lubna referred to the keenness of UAE to boost trade and economic cooperation with Syria, citing a host of existing cooperation opportunities could ...  >>MORE

Dubai’s non-oil exports up 40%

Posted on 10/10/2010

Dubai’s non-oil exports have surged 40 per cent and re-exports by 20 per cent in the first seven months of 2010 against the same period of 2009, and the upward trend is forecast to continue in the next five months of this year, according to the Dubai Export Development Corporation, or EDC. The 40 per cent growth is almost double the growth of the first seven months of 2009 over the same period in 2008, statistics released by the EDC to Khaleej Times revealed on Saturday. EDC Chief ...  >>MORE

Sheikha Lubna discusses trade cooperation with Turkey

Posted on 07/10/2010

Istanbul - Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi and Dr. Murat Yalcintas, Chairman, Istanbul Chamber of Commerce; Chairman, Association of Mediterranean Chambers of Commerce (ASCAME) discussed here yesterday mechanisms to promote bilateral trade and investment cooperation between UAE and Turkey in various fields. Sheikha Lubna is in Istanbul to attend the 4th International Business Forum (IBF) Congress which opened here yesterday. They stressed the need to enhance ...  >>MORE

UAE non-oil trade rises to Dh412 billion in 7 months

Posted on 07/10/2010

Preliminary statistical data of the FAC confirmed an 8 % total growth of UAE non-oil foreign trade volume by the end of 2010 compared to the same period in 2009. According to preliminary statistical data of the FCA, the total volume of non-oil foreign trade of the State increased during that period, from Dh381.546 b in the first seven months of 2009 to Dh411.951 b in the same period in 2010, with an increase value of Dh30.405 billion. FCA said in a press statement yesterday that preliminary ...  >>MORE

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Quick List

UAE-Venezuela trade grows


Robust trade drives Dubai economy


Lubna, Herat Governor discuss cooperation


Sheikha Lubna inaugurates UAE-Syrian Businessmen Forum


Lubna Al Qasimi discusses trade cooperation with Syria


UAE non-oil trade jumps to Dh540 billion in Sept. 2010


Sweden eyes stronger relations with UAE, supports EU-GCC FTA agreement


Lubna Al Qasimi says UAE is a model for economies


UAE: top trade partner to Saudi Arabia in 2010


Lubna Al Qasimi meets premier of Helen Zille, the Prime Minister


Dubai Direct Exports record 35% increase for first three quarters of 2010


Dubai's trading sector remains robust, driven by strong logistics infrastructure


UAE spent US$2.89 billion on imports from Turkey, while exporting goods worth US$291 million


Dubai customs: non-oil trade grew 19% to Dh425billion over 3 quarters


Sheikha Lubna opens UAE-Brazilian Business Forum


US Under Secretary of Commerce alludes to the role of UAE as a strategic trade partner


Dubai Chamber braces to implement the ATA Carnet system soon


MoFT releases study on UAE-UK trade and investment relations


UAE-India's non-oil trade exchange grew by 57% to US$0.4 billion in H1: MoFT study


Abu Dhabi to create investment agency


Pearl trade exposes UAE to foreign markets: Al Owais


Abu Dhabi's foreign trade reaches Dh425 billion in 2009


Ministry of Foreign Trade discusses investment opportunities with Jersey Finance


Lubna, EU official discuss cooperation


Lubna al Qasimi and Swedish Foreign Minister discuss trade and investment relations


Al Hameli: Italy is UAE's second largest global trade partner


UAE has 51 customs outlets


Armenian President receives Sheikha Lubna Al Qasimi


Foreign Trade Minister: UAE economic strategy boosts productive sectors


Al-Qasimi, Armenian PM discuss trade cooperation


Dubai non-oil trade continues growth to reach Dh377 billion in August


World Trade Organisation’s Director commends UAE on issuance of voluntary trade policy review


UAE ranks second worldwide in HSBC Trade Confidence Index


Dubai exporters show optimism


Lubna Al Qasimi discusses cooperation with Japanese bank


UAE trade prospects for 2011 shows upward trajectory


Japan's imports from UAE reach Dh60b


Lubna Al Qasimi discusses trade cooperation with Syria


Dubai’s non-oil exports up 40%


Sheikha Lubna discusses trade cooperation with Turkey


UAE non-oil trade rises to Dh412 billion in 7 months