International Finance

UAE launches app showing economic and foreign trade relations

Ministry of Economy launches interactive & smart online platform showcasing economic and commercial relations with over 217 countries

March 23, 2017: The Ministry of Economy has launched an interactive and smart online application to strengthen the UAE’s economic and foreign trade relations with countries across the world. The platform will provide updated information on each country in relation with the UAE alongside its economic indicators, key figures, foreign investment agreements and joint trade committees. This will also enhance the speed and accuracy of obtaining information with regard to federal and local government agencies and the domestic private sector.

H.E. Eng. Sultan bin Saeed Al Mansoori, Minister of Economy, led the launching of the interactive application on the ministry’s website, in the presence of H.E. Eng. Mohammed Ahmed bin Abdul Aziz Al Shehhi, Ministry’s Undersecretary for Economic Affairs; H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry; and H.E. Juma Mohammed Al Kait, Assistant Undersecretary at the Ministry for Foreign Trade Affairs.

H.E. Al Mansoori emphasised the Ministry’s commitment to innovate and implement intelligent solutions that will enhance the delivery of government services through the integration of the latest technologies. This is in line with the country’s aspiration to lead the Smart E-Services Index according to the objectives of the National Agenda 2021.

According to H.E. Al Mansoori, the new application contains up-to-date data regarding the UAE economic and foreign trade relations with other countries as well as investment data. It seeks to ensure efficient delivery of services, in addition to improving transparency and information accessibility.

H.E. shared the ministry’s success in providing electronic and smart services in accordance with the smart government initiative of the country’s wise leadership as well as in line with the government’s efforts to bring happiness to the people, ensure customer satisfaction, improve the efficiency of government entities, and develop a business-friendly environment globally. All these form part of the ministry’s vision to establish a diversified, competitive, and knowledge- and innovation-driven economy led by national competencies.

The interactive application developed by the Department of Analysis and Trade Information of the Ministry’s Foreign Trade Sector features data in Arabic and English and on 217 countries. The details cover the volume of investments; the number of trademarks, agencies, companies, and the investments of these countries in the UAE in terms of value and sectors; the UAE’s investments in these countries; the signed agreements; and other general information such as economic indices according to the World Bank reports.

The application also contains data on total non-oil foreign trade, including the volume of direct trade from 1999 to third quarter of 2016 and the volume of trade in free zones from 2011 to the third quarter of 2016. All data are updated automatically.

Additionally, it presents detailed information on non-oil direct foreign trade, including the top five commodities for non-oil exports, imports, and re-exports. It also includes information on bilateral agreements and Memorandums of Understanding, joint committees and events, and delegation visits.

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