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THE ECONOMY - TRADE

Al-Qasimi, Groser explore venues for stronger UAE-New Zealand trade relations

Posted on 29/04/2010

The UAE Minister of Foreign Trade H.E Sheikha Lubna Al-Qasimi and New Zealander Minister of Trade H.E Home Tim Groser, who is leading the largest ever delegation of senior officials and entrepreneurs to the Middle East, have discussed opportunities to further trade and economic cooperation between their two countries. The two sides also discussed the latest developments on the GCC-New Zealand Free Trade Agreement and the current global economic landscape. In remarks at the meeting, Sheikha ...  >>MORE

UAE-Western Australian trade grows to A$4.2bn in 2009

Posted on 29/04/2010

Western Australia, Australia's largest state, said its bilateral trade with the UAE has been growing at a steady pace over the years and has clocked A$4.2 billion (Dh14.2bn) in 2009, out of which exports to the country alone was to the tune of A$2.4bn and imports A$1.8bn. Elaborating on the significant trade partnership with the UAE and the Middle East and North Africa region in general, senior officials of the Government of Western Australia said the state, which is known for its vast ...  >>MORE

Lubna, FNCCI chief discuss UAE-Nepalese economic, trade relations

Posted on 26/04/2010

UAE Minister of Foreign Trade, or MoFT, H.E Sheikha Lubna Al-Qasimi and visiting President of the Federation of Nepalese Chamber of Commerce and Industry, FNCCI, Kush Kumar Joshi have discussed venues of cooperation on trade, agriculture and investments. Topics of the meeting included discussions on ways to further cooperation between UAE and Nepalese communities, participations by Nepalese companies in exhibitions held in the UAE, Nepalese exports to the regional markets. In remarks at the ...  >>MORE

Sharjah non-oil exports to touch Dh3.1bn in 2009

Posted on 26/04/2010

Sharjah's non-oil exports grew 0.07 per cent last year and reached Dh3.1 billion, compared to the Dh2.89bn recorded in 2008, according to figures available with the emirate's Chamber of Commerce and Industry. The Sharjah Chamber of Commerce and Industry also said the figures have prompted it to make field visits to businessmen in order to help them explore new markets and bolster existing ones. Hussain Mohammed Al Mahmoudi, Director-General of the chamber, told Emirates Business that it was ...  >>MORE

Malaysian Min: MSE 2010 reflects UAE's recovery from economic crisis

Posted on 15/04/2010

Malaysian Minister of International Trade '&' Industry (MITI) Mustapa Mohamed said the Malaysian Services Exhibition, or MSE 2010, reflects deep-rooted trade relations with the UAE, Malaysia's biggest trading partner in Western Asia, and other Gulf countries. The interest of UAE companies and investors in the Malaysian services showcase, held between April 13 and April 15th at Dubai International Convention Centre, reflects the trust regional countries has in Malaysian companies, according to ...  >>MORE

Lubna Al Qasimi meets Malaysian counterpart

Posted on 14/04/2010

UAE Minister of Foreign Trade HE Sheikha Lubna Bint Khalid Al Qasimi and Malaysian Minister of International Trade and Industry Dato' Sri Mustapha Mohamed discussed in Abu Dhabi yesterday bilateral relations between the two countries and the ways for enhancing them, especially in the areas of Trade and investment. During the meeting, which was held in Dubai on the sidelines of the Malaysia Services Exhibition 2010, they also reviewed the activities of UAE firms in Malaysia and the Malaysian ...  >>MORE

UAE provides ideal environment for foreign investment, Norwegian Trade Minister

Posted on 13/04/2010

Oslo - HE Trond Giske, Norway's Minister of Trade and Industry has said that UAE is considered as one of the safest countries in the world and it provides an ideal environment for foreign investment pointing out his country's keenness to develop economic cooperation with UAE. In an interview with a media delegation from the State on the occasion of the visit of His Royal Highness Crown Prince Haakon of Norway, the minister said that the delegation accompanying the Crown Prince will hold ...  >>MORE

Dubai records Dh52.4 billion of direct exports in 2009

Posted on 13/04/2010

The Dubai Export Monitor 2010 published by Dubai Export Development Corporation (EDC), an agency of the Dubai Department of Economic Development, Government of Dubai, revealed that the direct exports from the emirate in 2009 registered Dhs52.4bn, up by 22.9% from 2008 while imports and re-exports reduced by 27.9% and 8.6% respectively. The value of exports of nearly 50% of EDC's target products such as sugar, cocoa, precious stones and aluminium also increased. In addition, Dubai exports to ...  >>MORE

Lubna Al Qasimi meets Maltese Minister of Finance and Economy

Posted on 12/04/2010

Minister of Foreign Trade HE Sheikha Lubna bint Khalid Al Qasimi discussed in Abu Dhabi yesterday with Maltese Minister of Economy, Finance and Investments HE Tonio Fenech areas of development of bilateral relations between UAE and Malta and ways to take advantage of existing investment opportunities on both sides. At a meeting held at the Emirates Palace in Abu Dhabi, they also discussed how Malta and its major companies could benefit from the ideal and distinctive investment environment ...  >>MORE

UAE non-oil foreign trade stood at Dh53billion last February

Posted on 12/04/2010

The UAE's non-oil foreign trade reached Dh53 billion in terms of value in February 2010, according to a preliminary report issued by the Federal Customs Authority (FCA). Out of this amount, imports amounted to Dh35.2 billion, exports were Dh4.9 billion, while re-exports reached Dh12.9 billion. The total non-oil foreign trade weighed 5.4 million tonnes, out of which 3.3 million were imports, 1.5 million were exports and 0.6 million tonnes were re-exports. Khalid Ali Al Bustani, Acting ...  >>MORE

Ajman trade rebounds, hits Dh4.4bn in 2009

Posted on 12/04/2010

The value of trade in Ajman reached about Dh4.4 billion in 2009, an increase of 0.46 per cent compared to 2008, reflecting a recovery. Obaid Ali Al Muhairi, Chairman of Ajman Chamber of Commerce and Industry, said the value of origin certificates issued by the chamber of export and re-export operations recorded a total of Dh4.499bn. It was Dh4.448bn in 2008. He said this proves the recovery of the emirate's economy from the impact of the global downturn which was reflected in Q4 of 2008 and ...  >>MORE

Ministry of Foreign Trade hosts US delegation

Posted on 30/03/2010

Director General of the Ministry of Foreign Trade (MoFT) Abdullah Ahmed Al-Saleh on Monday received a delegation of assistants to US Congress members who are on a current visit to the UAE. The meeting discussed investment and trade relations between the two countries as well as investment opportunities provided by the UAE's non-oil sectors which, according to Al-Saleh, accounted for 66% of the UAE's GDP in 2009. Al-Saleh further stressed the UAE's interest in furthering cooperation with ...  >>MORE

Customs non-oil foreign trade touches Dh55b

Posted on 29/03/2010

The UAE's non-oil foreign trade reached Dh55 billion in January, according to a report issued by the Federal Customs Authority. Out of this amount, imports amounted to Dh37 billion, exports were Dh5.6 billion while re-exports reached Dh12.4 billion. The total non-oil foreign trade weighed 5.8 million tonnes, out of which 3.7 million were imports, 1.3 million were exports and 0.8 million tonnes were re-exports. Khalid Ali Al Bustani, Acting Director General of the Authority, said issuing ...  >>MORE

Lubna Al Qasimi, Belgian Minister explore venues for expanding relations

Posted on 28/03/2010

Brussels - UAE Foreign Trade Minister H.E Sheikha Lubna Al Qasimi and H.E Vincent Van Quickenborne, Belgian Minister of Enterprise and Streamlining, have discussed in Brussels venues for expanding trade and investment relations between the two countries. Sheikha Lubna is in Belgian capital, Brussels, to take part in a gathering organised by the Arab-Belgium-Luxembourg Chamber of Commerce under the theme "Sustainable Development, Diversification, Investment Opportunities in the UAE." The two ...  >>MORE

UAE will continue to maintain an open market, offer incentives, says Sheikha Lubna Al-Qasimi

Posted on 28/03/2010

Brussels - Sheikha Lubna Al Qasimi, Minister of Foreign Trade, stressed that the UAE will continue to maintain an open market, offering numerous business and investment incentives such as a close geographic proximity to the top European and Asian markets, world-class free zones; 100 % repatriation of capital and profits. She added that the UAE enjoys a highly diversified economy which relies on non-oil industries to generate 66 per cent of national GDP; easy access to raw materials; cheap ...  >>MORE

Lubna Al Qasimi highlights the fundamentals of the UAE Economy in Brussels

Posted on 27/03/2010

The UAE Foreign Trade Minister HE Sheikha Lubna Al Qasimi has underscored that the UAE is considered one of the advanced open-economy states which adopts free market and fair competition principles. "The UAE's economy is the second largest in the Arab World. It registered positive growth during 2009, reaching 3.1%, raising the GDP to USD 249 billion. It was supported by the strong non-oil related sectors which contributed 66% of the year's GDP", She added, indicating that "This was achieved ...  >>MORE

Lubna calls on Filipino firms to tap UAE competitive edge

Posted on 19/03/2010

The UAE is maintaining a strong trade position and attractive investment environment, H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, said yesterday and invited companies in Philippines to tap this exceptional competitive edges to boost their joint investment and forge trade partnerships for the benefit of both sides. 'The UAE is role model of tolerance and denunciation of bigotry and discrimination as it is hosting workers from about 200 nationalities working and living ...  >>MORE

British Minister praises Khalifa Fund's experience

Posted on 15/03/2010

Lord Davies of Abersoch, the British Minister for Trade, Investment and Small Business, praised the experience of the Khalifa Fund to Support and Develop Small '&' Medium Enterprises (SMEs) for supporting the potential of national entrepreneurs and helping them contribute towards national economy. As a result, he suggested signing a memorandum of Understanding between the two sides to exchange expertise in this field. Lord Davies said during a meeting today with Dr. Ahmed Khalil Al-Mutawa, ...  >>MORE

Sheikha Lubna praises trade relations with Africa and Indian Ocean

Posted on 15/03/2010

HH Sheikha Lubna Al Qasimi, Minister of Foreign Trade has praised trade relations with Africa and the Indian Ocean and vowed to further promote it considering it very important for UAE. "Trade today with Africa and the Indian Ocean is very important to us and one we take it very seriously. That trade is growing very quickly, having expanded almost 3 fold over the past decade", she said while addressing a conference on Africa and the Indian Ocean organised by NYU in Abu Dhabi. She said that ...  >>MORE

MOFT releases the first issue of 'The Trade Affairs' Bulletin for 2010

Posted on 15/03/2010

The Department of trade negotiations and WTO in the Ministry of Foreign Trade has released the first issue of the Trade Affairs Bulletin for 2010. The Bulletin provides the UAE's trade and business community with the latest news and updates on trade developments such as negotiations and free trade agreements with countries and economic blocs. It also monitors and analyses WTO agreements and related issues and follows-up the Organisation's meetings and negotiation rounds. The bulletin's ...  >>MORE

British Trade Minister visits DP World

Posted on 12/03/2010

Lord Davies of Abersoch, the British Minister for Trade, Investment and Small Business, visited DP World head office yesterday and had a meeting with Mohammed Sharaf, DP World Chief Executive Officer and Mohammed Al Muallem, Senior Vice President and Managing Director of DP World, UAE Region. HE Edward Oakden, British Ambassador to UAE, and HE Guy Warrington, the British Consul General in Dubai were also present. Lord Davies, who is leading a 70-strong SME business delegation on an official ...  >>MORE

Heads of American chambers of commerce visit Jafza, DP World

Posted on 11/03/2010

A top level US business delegation comprising senior members of the Association of American Chambers of Commerce (ACCE), this week visited Jebel Ali Free Zone (Jafza), the Economic Zones World flagship operation, and Jebel Ali Port, the home base of global container terminal operator DP World. The US-Dubai 2010: Executive Business Leaders Mission to Dubai is an initiative organised by Dubai Chamber of Commerce '&' Industry with the objective of boosting trade ties between Dubai and the US ...  >>MORE

UAE continues to be the top tea re-exporter in the world: MOFT

Posted on 10/03/2010

Initial indicators have shown that the UAE is still the top tea re-exporter of the world for the year 2009, and is set to retain the top position it reached in 2004, according to a study conducted the UAE Ministry of Foreign Trade . The indicators affirm that the UAE continues to play a key role in the international tea trade due to its unique geographic location and provision of competitive logistic and storage services, particularly through the Dubai Tea Trading Centre (DCTT) in Jebel Ali ...  >>MORE

Abu Dhabi foreign trade rises 9% to Dh112 billion

Posted on 10/03/2010

Abu Dhabi's foreign trade rose to Dh112.071 billion in 2009, an increase of 9% as compared to 2008 as per annual statistics of foreign trade operations announced by HE Saeed Ahmed Abdullah Al Muhairi, Director General of Abu Dhabi Customs yesterday. HE Al Muhairi pointed out that Abu Dhabi's volume of foreign trade grew despite global economic challenges and said, "One of the key figures of 2009 customs statistics is the growth in non-oil exports that climbed to Dh9,505 million, an increase ...  >>MORE

UAE-Korea bonds scale to new heights

Posted on 09/03/2010

The UAE awarding last December of a 20.4-billion-US-dollar contract to build four nuclear power plants to a South Korean-led consortium has ushered relations between the UAE and South Korea into a new strategic turn, a senior Abu Dhabi government official said today. H.E Nasser Al Suweidi, Chairman of Abu Dhabi Department of Economic Development (ADDED), told the UAE-Korea Business Forum that bilateral economic relations had seen positive and promising developments through the marked increase ...  >>MORE

9% growth rate in exports and 86% growth rate in UAE's Foreign Trade over 5 years

Posted on 07/03/2010

The UAE total volume of non-oil foreign trade reached about 663 billion dirham in terms of value in 2009, of which 449.2 billion dirham for imports value, 66 billion dirham for exports value, and 147.8 billion dirham for re-export value. While, in terms of weight, the UAE trade reached about 80.5 million tons, of which 49.2 million tons for imports weight, 22.4 million tons for exports weight, and 8.9 million tons for re-exports weight. Khalid Ali Al Bostani, the acting Director General of ...  >>MORE

Unified customs tariffs for 37 services

Posted on 28/02/2010

Customs offices at the UAE's different points of entry will start on Monday levying the new unified tariffs for 37 services to facilitate procedures for importers and exporters. Khalid Ali Al Bustani, acting Director General of the Federal Customs Authority, said the new rule will be implemented in line with the cabinet's resolution no. 45 for 2009 and as part of the UAE's commitments to the GCC customs union and to the other international conventions. "The unification of tariff for customs ...  >>MORE

UAE dominates trade with Japan

Posted on 26/02/2010

Trade between the UAE and Japan reached US$29.21 billion (Dh107.2 billion) with the trade balance heavily tilted towards the UAE, according to the latest statistics published by the Japan External Trade Organisation (Jetro). Japan is a major oil importer from the UAE, which helps the balance of trade in favour of the UAE, despite a heavy influx of Japanese products into the country. UAE exports to Japan totalled US$22.7 billion in Dec-ember 2009, down from US$46.41 billion in December 2008. ...  >>MORE

Dubai direct export rises to Dh52.4 billion

Posted on 24/02/2010

Dubai's non-oil direct exports grew an average rate of 23% in 2009 compared to 2008. The value of the exported goods through all Dubai Customs entries amounted to Dh52.4 billion in 2009 as opposed to Dh42.6 billion in 2008 while the growth rate over the past five years reached 47%. H.E Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General stressed that the UAE adopted strategy with respect to diversifying the production base and ...  >>MORE

UAE tops US imports table

Posted on 24/02/2010

The UAE has emerged as the biggest importer of US goods in the Arab world last year. That is despite the trade value having declined by 16 per cent, to US$12.1 billion (Dh44.44bn) as the global downturn dampened demand for US vehicles, machinery and components. US car exports to the UAE declined by 57 per cent while aerospace sales surged 19 per cent, led by Boeing aircraft deliveries to Emirates Airline, Etihad Airways and flydubai, the budget airline. The data was released by the US ...  >>MORE

Lubna Al Qasimi meets University of Washington President, US investors

Posted on 22/02/2010

Minister of Foreign Trade H.E. Sheikha Lubna bint Mohammed Al Qasimi, received in Abu Dhabi yesterday President of the University of Washington Mark A. Emmert, who was accompanied by a business delegation of the university graduates. During the meeting, Sheikha Lubna highlighted the recent developments in the UAE-U.S. cooperation in the areas of trade, economy, healthcare and education. She referred to the remarkable growth in the UAE's non-oil foreign trade which surged by 45 percent in ...  >>MORE

UAE - Bosnia Herzgovina trade up to Dh42m

Posted on 22/02/2010

Trade between the Republic of Bosnia and Herzegovina and the UAE has witnessed a sharp increase, reaching a total of 8 million Euros (Dh42 m) in the last 2 years. "The UAE is the biggest business hub in the region and one of the most important trading hubs in the world. The Republic of Bosnia and Herzegovina is looking forward to strengthen its economic ties with the UAE and further increase the trade between the two countries". Said H.E. Radomir Kosic, the Ambassador of Bosnia and ...  >>MORE

Lubna Al Qasimi stresses importance of adopting strategic methods to boost UAE trade globally

Posted on 21/02/2010

UAE Foreign Trade Minister HE Sheikha Lubna Al Qasimi, has emphasised importance of adopting the latest strategic methods to update the trade position of the UAE to help it deal with challenges and changes at the regional and international markets. She added that the Ministry of Foreign Trade (MoFT) got inspiration from the directives of wise leadership to upgrade the foreign trade in order to diversify the economy and highlight the UAE trade position and competitiveness through increasing ...  >>MORE

UAE-Japan trade down 49 per cent

Posted on 18/02/2010

The sharp decline of oil prices worldwide over 2009 led the total value of trade exchange between the UAE and Japan fell by nearly 49 per cent to US$29.22 billion (about Dhs107.24 billion) in the year compared with US$57.21 billion (Dhs210 billion) in 2008. According to Japan External Trade Organisation (JETRO), the UAE's exports to Japan fell by 51 per cent to US$22.71 billion (Dhs83.35 billion) in 2009 compared with US$46.42 billion (Dhs170.36 billion) in the previous year. At the same ...  >>MORE

Lubna calls on UAE and Iraq to tap virgin investment potentials

Posted on 17/02/2010

H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, stressed yesterday the need for maximising efforts to increase trade exchange between the UAE and Iraq, capitalising on the huge virgin investment potentials. Sheikha Lubna told a symposium on investment in Kurdistan region in Iraq attended by region's Prime Minister Barham Saleh that there were no doubt adequate opportunities for pushing trade exchange to higher levels towards the strategic partnership that fits the aspired ...  >>MORE

Lubna sells UAE investment potentials to French companies

Posted on 17/02/2010

Trade and investment indicators show the recovery of the UAE economy from the impact of the international financial crisis, H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, affirmed yesterday. "Despite the economic slowdown worldwide, the openness climate has allied with resolve to boost strategic partnerships and economic diversification to unfold more investment opportunities and mitigate investment risks which usually appeal in global markets. This makes the UAE an ...  >>MORE

UAE-British business community opens meeting

Posted on 16/02/2010

UAE Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi, and Lord Peter Mandelson, UK's First Secretary of State, Secretary of State for Business, Innovation and Skills (BIS) opened in Abu Dhabi yesterday a meeting of the Emirati and British businessmen. The meeting underway at the Emirates Palace Hotel is being organised by the MoFT with the participation of business communities and investors from both countries. In her opening speech the minister spelt out UAE's keenness to ...  >>MORE

Lubna Al Qasimi discusses bilateral relations with Deputy Treasury Secretary

Posted on 16/02/2010

UAE Minister of Foreign Trade H.E. Sheikha Lubna Bint Khalid Al-Qasimi discussed yesterday with Deputy US Treasury Secretary Neal Wolin ways of boosting trade relations. During the meeting, they discussed developments in trade between the two countries and means of encouraging private sector in both countries to boost contacts via forums and exhibitions so as to tap investment opportunities in order to stimulate economic growth in the two countries. Al Qasimi stressed the importance of ...  >>MORE

US Deputy Treasury Secretary discusses sustainable growth with leading Abu Dhabi organisations

Posted on 16/02/2010

Deputy Treasury Secretary Neal Wolin, who is currently visiting the UAE, stressed the importance of sustainable economic growth and partnership between the UAE and U.S. The U.S. official met yesterday with the UAE Central Bank Governor Sultan bin Nasser Al Suwaidi and representatives from leading Abu Dhabi organisations spearheading initiatives that encourage and support the UAE citizens to pursue meaningful private sector employment opportunities. The meetings come within the framework of ...  >>MORE

Lubna meets Tunisian minister

Posted on 15/02/2010

H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, discussed yesterday with visiting Tunisian Minister of Trade And Handicrafts Mohammed Ridha Ben Mosbah ways of enhancing bilateral trade cooperation. The two ministers reviewed progress of investment projects being executed by UAE companies in Tunisia and mechanisms for boosting investment cooperation in developmental sectors. Sheikha Lubna invited Tunisia private sector to take advantage of the UAE global trade edge and its ...  >>MORE

Italy is UAE's No 2 partner in Europe

Posted on 15/02/2010

Italy is ranked number two among European countries in terms of trade volume with the UAE, according to Francesco Alfonsi, Italy's Trade Commissioner in the UAE. Speaking ahead of a planned exhibition of Italian interiors in Abu Dhabi from March 4 to 6, he said that trade between the two countries exceeds Dh30 billion per annum. "Italy is the leading furniture exporter and the second largest furniture manufacturer in the world, including to the UAE. "To support this hive of activity, more ...  >>MORE

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Quick List

Al-Qasimi, Groser explore venues for stronger UAE-New Zealand trade relations


UAE-Western Australian trade grows to A$4.2bn in 2009


Lubna, FNCCI chief discuss UAE-Nepalese economic, trade relations


Sharjah non-oil exports to touch Dh3.1bn in 2009


Malaysian Min: MSE 2010 reflects UAE's recovery from economic crisis


Lubna Al Qasimi meets Malaysian counterpart


UAE provides ideal environment for foreign investment, Norwegian Trade Minister


Dubai records Dh52.4 billion of direct exports in 2009


Lubna Al Qasimi meets Maltese Minister of Finance and Economy


UAE non-oil foreign trade stood at Dh53billion last February


Ajman trade rebounds, hits Dh4.4bn in 2009


Ministry of Foreign Trade hosts US delegation


Customs non-oil foreign trade touches Dh55b


Lubna Al Qasimi, Belgian Minister explore venues for expanding relations


UAE will continue to maintain an open market, offer incentives, says Sheikha Lubna Al-Qasimi


Lubna Al Qasimi highlights the fundamentals of the UAE Economy in Brussels


Lubna calls on Filipino firms to tap UAE competitive edge


British Minister praises Khalifa Fund's experience


Sheikha Lubna praises trade relations with Africa and Indian Ocean


MOFT releases the first issue of 'The Trade Affairs' Bulletin for 2010


British Trade Minister visits DP World


Heads of American chambers of commerce visit Jafza, DP World


UAE continues to be the top tea re-exporter in the world: MOFT


Abu Dhabi foreign trade rises 9% to Dh112 billion


UAE-Korea bonds scale to new heights


9% growth rate in exports and 86% growth rate in UAE's Foreign Trade over 5 years


Unified customs tariffs for 37 services


UAE dominates trade with Japan


Dubai direct export rises to Dh52.4 billion


UAE tops US imports table


Lubna Al Qasimi meets University of Washington President, US investors


UAE - Bosnia Herzgovina trade up to Dh42m


Lubna Al Qasimi stresses importance of adopting strategic methods to boost UAE trade globally


UAE-Japan trade down 49 per cent


Lubna calls on UAE and Iraq to tap virgin investment potentials


Lubna sells UAE investment potentials to French companies


UAE-British business community opens meeting


Lubna Al Qasimi discusses bilateral relations with Deputy Treasury Secretary


US Deputy Treasury Secretary discusses sustainable growth with leading Abu Dhabi organisations


Lubna meets Tunisian minister


Italy is UAE's No 2 partner in Europe