Thani Al-Zeyoudi: Increasing the country’s comprehensive economic partnership agreements during 2025
Abu Dhabi, December 31 / WAM / His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, confirmed that work will continue to increase the number of comprehensive economic partnership agreements for the UAE during the year 2025, to include more countries and economies in order to achieve common benefits for the state and its partners around the world, and enhance the paths of Free, rules-based international trade accelerates access to sustainable development, in addition to encouraging more investments and expanding the horizons of trade exchange of goods and services and re-export opportunities.
His Excellency said, in statements to the Emirates News Agency, WAM, that the UAE’s Comprehensive Economic Partnership Agreements Program aims to expand the country’s network of trade and investment partners around the world, which strengthens the UAE’s position as a gateway to facilitate trade flows of non-oil goods and services across the world and an international business center. And investment.
He added that these agreements reflect the vision of the country, which is fully aware of the importance of rules-based free trade in achieving sustainable economic growth and comprehensive development, and its diversity and ability to sign qualitative partnerships with vital economies on five continents multiplies the opportunities and opens wider spaces around the world and in its markets for the Emirati economic sectors. .
He stated that the positive impact of signing comprehensive economic partnership agreements is reflected in the various sectors of foreign trade in the country, and the most prominent of those sectors benefiting from the agreements are the country’s non-oil foreign trade, in addition to re-export services, “logistics services sectors, clean and renewable energy, technology products, solutions and applications, financial services and industries.” Green, advanced materials, sustainable agriculture and food systems.”
He explained that the comprehensive economic partnership agreements continue to achieve a tangible and direct qualitative impact on the country’s foreign trade data, which reflects positively on various vital sectors, including the advanced technology sector.
His Excellency said that the advanced technology sector in the country benefits from the program of these agreements, with the strategic partnerships and constructive cooperation it achieves in this vital sector for the economies of the future, and because the strategic program has a role in enhancing access to global markets, reducing or eliminating customs duties, facilitating customs procedures, and providing clear rules. Transparent and promoting competition based on fair trade.
Since its launch in September 2021 until the beginning of December 2024, the UAE has witnessed the signing of 24 comprehensive economic partnership agreements with countries and international blocs of strategic importance regionally and globally on the map of international trade, in which about 2.5 billion people live, or a quarter of the population. the world.
The program of agreements opens broad horizons and promising opportunities for the UAE’s foreign trade, in the field of advanced technology and its products and services, such as artificial intelligence applications, data center services, self-driving transportation and delivery solutions, and financial technology, in addition to emerging technologies based on blockchain, big data modeling, the Internet of Things, and uses of technology. Advanced health, therapeutic and preventive services, the development of pharmaceutical innovations, and the development of technologies for generating, collecting and storing clean and renewable energy such as concentrated solar energy, wind energy, hydrogen and smart logistics services.
During the year 2024, the UAE’s foreign trade continued its distinguished upward performance thanks to a clear strategic vision based on strengthening cooperation and partnerships with various economies of the world, and continuing to work with partners to expand the principles of free trade based on approved rules agreed upon between countries, in addition to having a confident and ambitious vision that is The “We are the Emirates 2031” vision, which directs the value of the country’s non-oil foreign trade in goods to 4 trillion dirhams, and charts the path to increasing UAE exports of non-oil goods. To 800 billion dirhams by 2031.
The UAE’s foreign trade achieved an unprecedented historical record in the first half of 2024, as its value exceeded 1.395 trillion dirhams, with a growth of 11.2% compared to the same period in 2023, and recorded increases of 28.8%, 54.7%, and 66% compared to the same period. From the years 2022, 2021 and 2019, respectively.
The Comprehensive Economic Partnership Agreements Program contributed to accelerating this upward path and more than half the way towards achieving the foreign trade targets in the “We Are the Emirates 2031” vision, as merchandise trade reached 2.6 trillion dirhams by the end of 2023, even 8 years before the date set for achieving the 4 target. Trillions of dirhams.
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