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THE ECONOMY - TRADE

U.A.E.-US talk innovation

Posted on 30/09/2014

The U.A.E. delegation led by Sultan bin Saeed Al Mansouri, Minister of Economy, held in-depth discussions with a number of senior American business leaders during its tours of Seattle and San Francisco in the West Coast. At Seattle, the delegation visited Boeing's facilities in Everett, the world's largest factory and largest building by volume that assembles Boeing 747s, 767s, 777s, and the new 787 Dreamliner. Talks between the U.A.E. delegation and Boeing officials focused on the current ...  >>MORE

U.A.E. participates in Group of 77 meeting at UNGA

Posted on 29/09/2014

NEW YORK: Khalid Al Ghaith, Assistant Minister for Economic Affairs at the Ministry of Foreign Affairs, has participated in the 38th Annual Meeting of Ministers for Foreign Affairs of the Group of 77 and China, as part of the 69th Session of the UN General Assembly. Al Ghaith spoke at the meeting on behalf of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, stressing the important role the group plays in defending their countries interests. He also reiterated the U.A.E.'s support ...  >>MORE

Minister of Economy discusses innovation and entrepreneurship with US business leaders

Posted on 29/09/2014

A U.A.E. delegation led by Sultan bin Saeed Al Mansouri, Minister of Economy, has held in-depth discussions with a number of senior American business leaders during its tour of Seattle and San Francisco on the U.S. West Coast. At Seattle, the delegation visited Boeing's facilities in Everett, the world's largest factory and largest building by volume (more than 13 million m3) that assembles Boeing 747s, 767s, 777s, and the new 787 Dreamliner. Talks between the U.A.E. delegation and Boeing ...  >>MORE

U.A.E. and Barbados sign agreement

Posted on 26/09/2014

NEW YORK: The U.A.E. and Barbados yesterday signed an agreement to avoid double taxation and prevent fiscal evasion regarding taxes on income. The agreement was signed by Reem bint Ibrahim Al Hashimy, Minister of State, and Maxine McClean, Minister of Foreign Affairs of Barbados. The agreement looks at ways to promote cooperation and strengthen the economic side between both parties by avoidance of double taxation on income per capita and companies, including commercial, land, air ...  >>MORE

Al Mansouri, US Secretary of Commerce discuss relations

Posted on 24/09/2014

WASHINGTON, D.C.: U.A.E. Minister of Economy, Sultan bin Saeed Al Mansouri, has discussed with US Secretary of Commerce, Penny Pritzker, ways to strengthen bilateral relations between the two friendly countries in areas of economy, trade and investment. During the meeting, Al Mansouri highlighted the progress of national economy, noting that the U.A.E. has been scoring successes in the area of excellence, and managed in record time to become competitive to major countries, in accordance to the ...  >>MORE

Dubai Customs continues developing its user-friendly smart services

Posted on 23/09/2014

Guided by the vision of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, towards delivering first-class government services to the U.A.E. community; Dubai Customs continues developing its smart services to ensure smooth and fast completion of customs transactions. In this perspective, Dubai Customs has upgraded its clearance services to save customers' time and effort, by enabling them to fill out customs declarations using their mobile ...  >>MORE

U.A.E.-US economic, trade, investment relations to see further growth: Al Mansouri

Posted on 21/09/2014

Economic, trade and investment relations between U.A.E. and the U.S. are steadily flourishing and are poised for further growth and development as the two countries have a common will for bolstering them, and as several opportunities and avenues that are still untapped would deepen their cooperation relations, affirmed Sultan bin Saeed Al Mansouri, Minister of U.A.E. Economy, who is leading a large high-profile U.A.E. business delegation to the U.S. for meetings with senior officials. "There ...  >>MORE

U.A.E. tops Arab market for Brazilian exports

Posted on 20/09/2014

SAO PAULO: Brazilian exports to the U.A.E. rose by 13 per cent in the first eight months of this year, compared to the period from January to August 2013, according to figures reported by the Arab-Brazilian News Agency, ANBA. Citing figures issued by the Brazilian Ministry of Development, Industry and Foreign Trade and compiled by the Arab-Brazilian Chamber of Commerce, the agency said that Brazilian exports to the Emirates over the period were valued at to US$ 1.767 billion, 20 per cent of ...  >>MORE

Dubai, UK trade hits Dhs19.4 billion in first half

Posted on 20/09/2014

The UK came ninth in the list of Dubai's trade partners in the first half of 2014 totalling Dhs19.4 billion. This includes Dhs12.1 billion of imports, Dhs2.8 billion of exports and Dhs4.4 billion of re-exports.

DP World Chairman and Chairman of Ports, Customs and Free Zone Corporation (PCFC), Sultan Ahmed Bin Sulayem, met with the new UK Ambassador to the U.A.E., Philip Parham, to discuss trade, business and maritime issues.

During the introductory meeting, ...  >>MORE

Dubai SME and Epoc Messe Frankfurt collaborate on pavilion for Intersec 2014

Posted on 15/09/2014

Dubai SME, the agency of the Department of Economic Development in Dubai mandated to promote the small and medium enterprise (SME) sector, and Epoc Messe Frankfurt have signed a Memorandum of Understanding in order to encourage the ongoing growth and development of local SMEs within the security sector. Mr Abdul Baset Al Janahi, Chief Executive Officer, Dubai SME and Mr Ahmed Pauwels, Chief Executive Officer, Epoc Messe Frankfurt GmbH signed the agreement which will facilitate the ...  >>MORE

Abu Dhabi, Brisbane discuss stronger economic relations

Posted on 14/09/2014

Chairman of Department of Economic Development in Abu Dhabi (DED-Abu Dhabi) Ali Majid Al Mansouri, and Graham Quirk, Lord Mayor of Brisbane, the capital of the State of Queensland, Australia, have discussed ways of bolstering economic and investment relations between Abu Dhabi and Australia at a meeting in Abu Dhabi. Representatives of government departments and semi-government economic bodies attended the meeting at DED-Abu Dhabi alongside the members of the Australian business delegation ...  >>MORE

SCAD issues quarterly report on non-oil merchandise trade

Posted on 14/09/2014

Statistics Centre - Abu Dhabi (SCAD) has issued its quarterly report on non-oil merchandise trade through the ports of the Emirate of Abu for Q2 2014 to support decision makers and businesses with accurate and up-to-date statistics on the non-oil merchandise that entered or exited the territory of the Emirate of Abu Dhabi through the emirate's ports (including air, sea and land ports) during the reference period. The report highlights the relative importance of each individual component of ...  >>MORE

FCA: U.A.E. ranks third in the world in terms of customs procedures KPI

Posted on 10/09/2014

The 2014-2015 Global Competitiveness Report, issued by the Global Economic forum, reflected the progress that has been made in the U.A.E.'s customs sector in recent years in terms of customs procedures efficiency. The report noted that the U.A.E. has moved up two places in the global ranking for customs procedures KPI, coming in third after previously coming in fifth, according to last year's report. Khalid Ali Al Bustani, Acting General Director of the Federal Customs Authority, stated that ...  >>MORE

Minister of Economy heads U.A.E. delegation to ninth Bled Strategic Forum in Slovenia

Posted on 03/09/2014

BLED – SLOVENIA: The U.A.E. Ministry of Economy marked a high level participation at the two day ninth Bled Strategic Forum that concluded yesterday in Slovenia. Led by Sultan Al Mansouri, Minister of Economy, the U.A.E. delegation comprised leading trade representatives from the private and public sector. Bled Strategic Forum is a project of the Government of the Republic of Slovenia. Organised jointly by the Slovenia Ministry of Foreign Affairs and the Centre for European Perspective, the ...  >>MORE

Dubai reinforces the diversity of its foreign trade in H1 2014

Posted on 28/08/2014

Dubai has cemented its position as a regional and global trading hub, as the world's trust in the emirate's potentials is leveraged in view of the highly developed infrastructure and efficient logistics and customs facilitations placed at the service of world trade flow. Figures released by Dubai Customs have shown that the emirate has reinforced the diversity of its foreign trade in the first half of 2014, reflecting a key change in the commodity composition of trade to cope with the UAE's ...  >>MORE

U.A.E.'s non-oil trade in first quarter of 2014 stands at Dh256b: FCA

Posted on 20/08/2014

U.A.E.'s non-oil trade reached Dh 256 billion in the first quarter of 2014 reflecting the continuous momentum of U.A.E's non-oil foreign trade in 2013, driven by stronger performance in all economic sectors and the country's more advanced position on many global indices, preliminary data of the Federal Customs Authority (FCA) showed on Tuesday. "FCA's statistics show that imports accounted for 65%, or Dh 166.4 billion of the non-oil trade in the first quarter, while exports accounted for ...  >>MORE

Bilateral trade between U.A.E. and Japan up 4.43% at US$25.92b in H1

Posted on 19/08/2014

Value of two-way trade between Japan and the U.A.E. during the first six months of 2014 rose by 4.43 per cent to US$25.92 billion, compared to US $ 24.82 billion during the same period in the previous year. The increase in trade is driven by expansions in both exports and imports to and from the U.A.E.. Japan's exports to the U.A.E. surged by nearly 13 per cent to US$ 4.59 billion, and imports by 2.76 per cent to US$ 21.34 billion during the first six months of 2014. Japan's first half trade ...  >>MORE

Dubai Customs delivers 4.5 million transactions in first half of 2014, up by 10 per cent

Posted on 10/08/2014

The total number of transactions performed by Dubai Customs during the first half of 2014 grew 10 per cent to 4.5 million transactions, compared to 4.1 million in the same period of last year. "The mounting growth in the number of delivered transactions echoes the nation's increasing economic performance. This is mainly due to the steady recovery of most economic sectors and the increase of foreign trade as a result of a growing demand for commodities necessary to meet the development needs of ...  >>MORE

U.A.E. and US total trade hits Dh42.83b in first half

Posted on 09/08/2014

The total trade between the U.A.E. and the United States dropped by around 22 per cent to US$11.67 billion (Dh42.83 billion) in the first half of this year compared with US$14.92 billion (Dh54.76 billion) in the corresponding period last year.

According to the United States Departments of Commerce, the U.A.E. imports from the United States fell by around 23 per cent to US$10.41 billion (Dh38.21 billion) in the first 6 months of this year compared with US$13.52 billion (Dh49.62 ...  >>MORE

Dubai’s foreign trade in mobile phones grows 126% in Q1 over four years

Posted on 07/08/2014

The on-going implementation of Smart Dubai Strategy, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the U.A.E. and Ruler of Dubai, has bolstered the escalating growth of the emirate's foreign trade in mobile phones with the increasing demand for smart phones to keep up Dubai's comprehensive shift into smart applications and services. The ambitious strategy of turning Dubai into the smartest city in the globe over three years is a major ...  >>MORE

U.A.E.’s overall trade with Japan robust

Posted on 04/08/2014

Propelled by increased exports of motor vehicles, Japan maintained its robust performance in the trade with the U.A.E. in 2013. In the overall trade, U.A.E. was Japan's 8th largest trading partner in the world in 2013, behind China, USA, South Korea, Australia, Taiwan, Thailand and Saudi Arabia. By meeting nearly 23 per cent of the total crude oil requirements of Japan, U.A.E. remained to be Japan's 2nd largest supplier of crude oils after Saudi Arabia, which covered 31.83 per cent of ...  >>MORE

UAE-India bilateral trade flourishing

Posted on 17/07/2014

The UAE-India bilateral trade continues to grow in strength with the trade between the two countries expected to touch US$100 billion (Dhs367 billion) in the next few years, according to the Indian Businessmen and Professional's Council (IBPC). It is noted that the NRI contribution to the UAE economy has touched US$133 billion as UAE-India bilateral trade crosses US$85 billion at present. Speaking to The Gulf Today during the week, Indian Businessmen and Professional's Council (IBPC) ...  >>MORE

U.A.E., France to boost trade, economy ties

Posted on 14/07/2014

Committed to economic partnership, both France and the U.A.E. are aiming to expand economic and trade exchange, particularly in oil, renewable energy, nuclear energy, advanced technologies, land and air transport, and services. Entities like the French Business Group (FBG) have a strong presence in the U.A.E. dating back to1974. With sectoral committees to develop business opportunities in key areas of economy like construction, renewable energy, oil and gas, FBG actively supports small and ...  >>MORE

U.A.E. becomes fifth largest Vietnam export market

Posted on 13/07/2014

HANOI: United Arab Emirates has surpassed Germany and Hong Kong to become Vietnam's fifth largest export market, trailing behind the U.S., China, Japan, and the Republic of Korea. The vietnamnet.vn quoting Vietnam Customs statistics has said that Vietnamese total exports to the U.A.E. in the first five months of the year jumped 27% year on year, tallying in at U.S. $2.03 billion. It is now forecasting the total export turnover to the U.A.E. to hit a record US$2.4 billion in the first half of ...  >>MORE

Dubai-Canada trade grows 61% to Dh2bn in Q1 2014

Posted on 10/07/2014

Dubai's Ports, Customs and Free Zone Corporation, PCFC, has affirmed its commitment to support the economic ties between U.A.E. and Canada, as reflected by their growing bilateral trade between U.A.E. and Canada surged 53% in 2013 to Dh9.2 billion compared to Dh6 billion in 2012, while Dubai foreign trade with Canada scored a 61% growth in the first quarter of 2014 to reach Dh2 billion, up from Dh1.3 billion for the same period in 2013, according to Sultan Ahmed bin Sulayem, Chairman of Dubai's ...  >>MORE

Dubai glass trade stood at Dh5b in 2013, says Dubai Customs

Posted on 06/07/2014

The total value of Dubai trade of glass products in 2013 stood at around Dh5 billion, with AE2.6 in imports, Dh1.3 billion in imports and Dh1 billion in re-exports, according to Dubai Customs. Director of Strategy and Corporate Excellence, Dubai Customs, Ahmed Abdul Salam Kazim, in a statement to WAM, said, "the facilities offered by Dubai Customs have supported the growth of the emirate's glass trade." In 2013, China emerged as the top exporter of glass products to Dubai with Dh585 million, ...  >>MORE

Ethiopian President expresses desire to expand economic relations with U.A.E.

Posted on 03/07/2014

ADDIS ABABA: Ethiopian President Mulatu Teshome has expressed his country's desire to expand economic relations with U.A.E. and welcome more U.A.E. investors to his country's markets. President Teshome made his remarks as he met with a delegation from U.A.E.'s Majid Al Futtaim Group, a shopping mall, retail and leisure major in the Middle East and North Africa (MENA), in the presence of U.A.E. Ambassador to Ethiopia and Permanent Representative to the African Union, Yousuf Eisa Al Saberi. ...  >>MORE

Sharjah set to attract global heavyweights

Posted on 22/06/2014

The Sharjah Investment and Development Authority (Shurooq) has announced that Sharjah will be hosting the 12th edition of the prestigious World Forum for Foreign Direct Investment (FDI), the annual event that covers the latest news on corporate strategy concerning location requirements, people and future expansion. Shurooq's participation in this event comes in line with the Authority's strategy to promote the rewarding investment opportunities in Sharjah and in line with the directives of His ...  >>MORE

Shurooq strengthens business ties with China

Posted on 16/06/2014

A Chinese Business delegation has recently visited the Sharjah Investment and Development Authority (Shurooq) to explore ways to increase investment and business opportunities in the emirate. The delegation, which was received by from Shurooq by Elie Armaly, Director of Business Development and Yonghui MA, Investment Promotion Executive, included Xiaosong Yang, Executive Vice Chairman of Liaoning Province Federation of Industry and Commerce, De Wei, Executive Vice President of the ...  >>MORE

U.A.E. sees encouraging investment opportunities in Iraq's Kurdistan

Posted on 14/06/2014

U.A.E. economic officials have urged U.A.E. businesses and investors to tap what they described as the 'very promising markets' of Iraq's Kurdistan Region which serves as a gateway for their products and services to all Iraq, citing energy, agriculture, tourism infrastructure, industry, health and education as the major targeted sectors of the Iraqi region. Under Secretary for Foreign Trade Affairs at U.A.E. Ministry of Economy, Abdullah Al Saleh, in statements to WAM, said, "recent meetings ...  >>MORE

Iraqi Kurdistan investors show intense interest in Sharjah's economic success

Posted on 14/06/2014

Investors from Iraq's Kurdistan Region show intense interest in the economic success of Sharjah, according to Sharjah Investment and Development Authority (Shurooq) which on Friday described the potential to forge new economic partnerships and strengthen existing ones between Sharjah and Iraq as 'enormous'. "Sharjah s economic success has been propelled by sectors that investors in Iraq's Kurdistan Region have shown intense interest in exploring. Sharjah is also particularly strong in both ...  >>MORE

ADIB sponsors U.A.E.-Iraq Trade Forum in Erbil

Posted on 11/06/2014

Abu Dhabi Islamic Bank (ADIB) sponsored U.A.E. Iraq Trade Forum held on 9th - 10th June to promote business between Iraq and the U.A.E., and to highlight trade and investment opportunities for U.A.E. companies. The event, which took place in Erbil, included a number of working sessions focused on different aspects of the opportunities available for the U.A.E. private sector. Speakers included Newroz Mawlod, Chairman of the Board of Investment, Kurdistan Regional Government, Dara Jalil Khayat, ...  >>MORE

U.A.E., Russia seek to increase trade exchange to US$7 billion

Posted on 10/06/2014

U.A.E. and Russia have agreed to increase their trade exchange by 133 per cent from US$3 billion to US$7 billion in the coming period, and stressed on the need for preparing a relevant action plan to specify areas of cooperation and joint investments, in various sectors including oil and gas, agriculture, industry, small and medium size enterprises (SMEs). U.A.E. Minister of Economy, Sultan bin Saeed Al Mansouri, and Russian Minister of Economic Development, Aleksey Valentinovich Ulyukayev, ...  >>MORE

U.A.E., Iraq's Kurdistan Region work on wider economic cooperation

Posted on 10/06/2014

ERBIL: U.A.E. and Iraq's Kurdistan Region have are working on expanding and supporting their economic cooperation in different sectors and stressed on the need for opening new investment opportunities for their businesspersons in order to forge strategic partnership that serve U.A.E.-Iraqi relations. The call came during a meeting between a U.A.E. delegation led by Undersecretary for Foreign Trade Affairs at Ministry of Economy, Abdullah Al Saleh, and Kurdistan officials led by Minister of ...  >>MORE

U.A.E., the Maldives sign customs cooperation agreement

Posted on 09/06/2014

U.A.E. and the Republic of the Maldives have signed a customs agreement which will see the two countries cooperate on removing trade barriers between them through exchange of data and expertise on consignments, customs policies and training on inspection and procedures. Acting Director-General of Federal Customs Authority (FCA), Khalid Ali Al Bustani, said the agreement is part of U.A.E.'s interest in enhancing trade and economic cooperation with all its trade partners based on the fact that ...  >>MORE

Dubai Chamber, Slovakian delegation talk trade ties

Posted on 09/06/2014

The delegation met with Dubai Chamber officials, and the meeting provided a platform for the visitors to meet representatives of the local business community. The Dubai Chamber of Commerce and Industry on Sunday welcomed a high-profile delegation of 30 Slovak ministers and private sector representatives, led by Miroslav Lajcak, Deputy Prime Minister and Minister of Foreign and European Affairs of the Republic of Slovakia, to discuss potential areas of collaboration between the two nations. ...  >>MORE

U.A.E., Russia agree on upgrading economic, investment ties

Posted on 08/06/2014

MOSCOW: The United Arab Emirates and Federal Republic of Russia have agreed to extend bilateral relations to wider horizons through exploring new economic and investment opportunities in different development sectors. U.A.E. Minister of Economy, Sultan bin Saeed Al Mansouri and Minister of Regional Development of the Russian Federation, Igor Slyunyayev signed a Memorandum of Understanding (MoU) on Friday, during the inauguration of the U.A.E.- Russian Business Forum in Moscow, to strengthen ...  >>MORE

Shurooq promotes Sharjah’s investment opportunities in Russia

Posted on 08/06/2014

A high-ranking trade delegation from Sharjah, including representatives from the Sharjah Investment and Development Authority (Shurooq), has concluded its participation in the Kazan Summit 2014 in Tatarstan and the U.A.E.-Russia Business Forum in Moscow, which were held from 5-7 June, as part of the U.A.E. trade delegation that was led by Engineer Sultan Saeed Al Mansouri, Minister of Economy. Sharjah delegation included Abdul Aziz Al Midfaa, Deputy Director of Economic Relations & Public ...  >>MORE

UAE, Tatarstan to strengthen strategic ties

Posted on 07/06/2014

Kazan: The UAE and Tatarstan resolved to boost relations in the agricultural, educational, health spheres and in the industrial, oil, petrochemical sectors. During a meeting held in Kazan, capital city of Tatarstan, on Thursday, Sultan bin Saeed Al Mansouri, Minister of Economy and Tatarstan President, Rustam Minnikhanov explored investment opportunities between the governments and private sectors in the two countries. The discussed ways to enhance economic and trade relations in various ...  >>MORE

UAE envoy sees 30 per cent jump in China trade

Posted on 07/06/2014

The proposed "21st Century Maritime Silk Road” will open up greater business opportunities for all the countries involved in it. The UAE expects a 30 per cent jump in bilateral business with China in the next two years, according to UAE ambassador in Beijing, Omar Al Bitar. "We expect the bilateral trade to go up from US$46 billion in 2013 to US$60 billion by 2015,” Al Bitar told Khaleej Times on the sidelines of the China-Arab States Cooperation Forum (CASCF) held in Beijing on Thursday. ...  >>MORE

U.A.E. calls for unity in fight against hunger

Posted on 06/06/2014

KAZAN, RUSSIA: The U.A.E. has called on delegates to the International Summit on Economic Cooperation between the Russian Federation and Countries of the Organisation of Islamic Cooperation (OIC) to unite and harness available natural resources in the fight against hunger and poverty, and voiced its support to efforts to enhance global food security using innovative approaches relying on state-of-the-art tools of scientific research in agriculture, animal resources and development. Sultan bin ...  >>MORE

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Quick List

U.A.E.-US talk innovation


U.A.E. participates in Group of 77 meeting at UNGA


Minister of Economy discusses innovation and entrepreneurship with US business leaders


U.A.E. and Barbados sign agreement


Al Mansouri, US Secretary of Commerce discuss relations


Dubai Customs continues developing its user-friendly smart services


U.A.E.-US economic, trade, investment relations to see further growth: Al Mansouri


U.A.E. tops Arab market for Brazilian exports


Dubai, UK trade hits Dhs19.4 billion in first half


Dubai SME and Epoc Messe Frankfurt collaborate on pavilion for Intersec 2014


Abu Dhabi, Brisbane discuss stronger economic relations


SCAD issues quarterly report on non-oil merchandise trade


FCA: U.A.E. ranks third in the world in terms of customs procedures KPI


Minister of Economy heads U.A.E. delegation to ninth Bled Strategic Forum in Slovenia


Dubai reinforces the diversity of its foreign trade in H1 2014


U.A.E.'s non-oil trade in first quarter of 2014 stands at Dh256b: FCA


Bilateral trade between U.A.E. and Japan up 4.43% at US$25.92b in H1


Dubai Customs delivers 4.5 million transactions in first half of 2014, up by 10 per cent


U.A.E. and US total trade hits Dh42.83b in first half


Dubai’s foreign trade in mobile phones grows 126% in Q1 over four years


U.A.E.’s overall trade with Japan robust


UAE-India bilateral trade flourishing


U.A.E., France to boost trade, economy ties


U.A.E. becomes fifth largest Vietnam export market


Dubai-Canada trade grows 61% to Dh2bn in Q1 2014


Dubai glass trade stood at Dh5b in 2013, says Dubai Customs


Ethiopian President expresses desire to expand economic relations with U.A.E.


Sharjah set to attract global heavyweights


Shurooq strengthens business ties with China


U.A.E. sees encouraging investment opportunities in Iraq's Kurdistan


Iraqi Kurdistan investors show intense interest in Sharjah's economic success


ADIB sponsors U.A.E.-Iraq Trade Forum in Erbil


U.A.E., Russia seek to increase trade exchange to US$7 billion


U.A.E., Iraq's Kurdistan Region work on wider economic cooperation


U.A.E., the Maldives sign customs cooperation agreement


Dubai Chamber, Slovakian delegation talk trade ties


U.A.E., Russia agree on upgrading economic, investment ties


Shurooq promotes Sharjah’s investment opportunities in Russia


UAE, Tatarstan to strengthen strategic ties


UAE envoy sees 30 per cent jump in China trade


U.A.E. calls for unity in fight against hunger