International Finance

UAE recorded $52 bn non-oil trade growth with Arab countries in H1 2021

The non-oil trade between the UAE and Arab countries grew by 29%

During the 108th meeting of the Arab League’s Economic and Social Council Abdulla bin Touq Al Marri, Minister of Economy mentioned that the UAE has registered $52 billion non-oil trade with Arab countries, and it grew by 29 percent, according to media reports. During the meeting, Al Marri also highlighted that the UAE is keen on achieving the development goals of Arab countries in line with the Council’s recommendations.

He also called for additional efforts to increase the trade between UAE and Arab countries and added that UAE’s support for all their relevant regional efforts that are made between Greater Arab Free Trade Area (GAFTA) and the Arab Customs Union.

Last year, the trade between Arab countries and the rest of the world amounted to $1.27 trillion and the UAE accounted for 25 percent of it. In 2021, the non-oil trade between the UAE and Arab countries grew to Dh191 billion from Dh148 billion, compared to last year.

Al Marri also mentioned the UAE’s bid to host the 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Abu Dhabi in 2023 along with the UAE’s effort to address climate change and protect the environment. Recently, the UAE has made headlines for its achievements in the renewable energy sector and continues to strive for a more a sustainable and green future.

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