The UAE is presenting in Prague its successful experience in overcoming the challenges resulting from the Iranian terrorist aggression on its foreign trade
Prague, May 24 / WAM / His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, participated in a dialogue session held in the Czech capital, Prague, entitled “The Ripple Effect: How the Conflict with Iran Shapes the Features of Global Economies and Policies,” where His Excellency reviewed the UAE’s response to the disturbances that affected global trade routes, and its contributions to overcoming the current challenges facing international trade flows, which consolidates the country’s position as a stable and flexible global trade center.
Speaking before a group of the most prominent decision-makers, business leaders and international officials, His Excellency Al-Zeyoudi stressed that the Strait of Hormuz must remain a free and open international waterway, and no party can dominate it, use it as a pressure card, or turn it into a weapon against the global economy.
Al-Zeyoudi reviewed the immediate measures adopted by the UAE since the beginning of the Iranian terrorist aggression against the Gulf Cooperation Council countries, the heart of which is the UAE, and Iran’s closure of the Strait of Hormuz to disrupt global energy supplies and terrorize the world economically and commercially.
Al-Zeyoudi pointed out that these measures taken by the UAE included activating alternative trade corridors to avoid the Strait of Hormuz, including the ports of Fujairah and Khor Fakkan in the east of the country, launching air bridges to ship priority goods such as medicines, food, etc., creating a green trade corridor with the Sultanate of Oman, and a new trade bridge between Sharjah and Dammam.
His Excellency also pointed out that the UAE has activated an economic support fund worth one billion dirhams with the aim of ensuring business continuity and providing targeted support to small and medium-sized companies, in addition to a five-pronged package to enhance the flexibility of financial institutions launched by the Central Bank to support the stability of credit flows.
His Excellency said: “The process of restructuring logistics services, which we have been implementing for a decade, now aims to be completed in years, as the current circumstances have accelerated the timelines of current plans, and highlighted the wisdom of the wise leadership and its forward-looking vision that was behind the decision to create a flexible, diversified and solid commercial structure before it was needed.”
His Excellency touched on the UAE’s long-term trade vision, as he stressed that the Comprehensive Economic Partnership Agreements program adopted by the country remains a vital tool through which the UAE continues to drive positive momentum in its foreign trade, as it resulted in the completion of 35 agreements with partners on 6 continents and contributed to reaching the value of non-oil foreign trade to $1.03 trillion in 2025.
Al-Zeyoudi added: “Our achievements over the past five years remain solid and persistent. The UAE is a bridge to high-growth markets across the Arabian Gulf, Africa and Asia, and a reliable global partner in trade, logistics, investment and technology, and that role has not diminished, but rather has become more important.”
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