Reaching “zero dependence” on the Strait of Hormuz by the end of this year

Minister of Foreign Trade Thani bin Ahmed Al-Zeyoudi expected the completion of the plan to reduce dependence on the Strait of Hormuz, especially in the oil sector, to zero by the end of the current world.
Al-Zeyoudi indicated in an interview with CNBC Arabia that the plan, which has already begun to be implemented, to reduce dependence on the Strait of Hormuz with regard to the oil sector, and work is underway on the alternative path, in which the completion rate is progressing rapidly, revealing the study of establishing a third path, which will ensure not only reducing dependence on the Strait, but also accommodating any future expansions in production.
He pointed to work on developing a petrochemical line, in addition to accelerating the connection of the Etihad train to both Khor Fakkan and Dibba, to enhance the flow of goods.
He revealed a plan to transform the Union Export Credit Company into a more profitable company, while increasing its capital, so that it becomes a strong competitor to international export insurance companies.
Al-Zeyoudi explained that during the crisis the priorities changed. In the past, they were achieving commercial growth and ensuring profitability, but with recent developments, the primary goal has become to ensure the smooth flow of trade movement, the provision of goods in the markets, and their uninterruption, in addition to raising the efficiency of the link between the various logistical sectors, whether sea, land or air, which had a direct role in achieving these results.
When asked about the target contribution of exports to total trade, especially after it rose to 23.4% in the first half of 2026 compared to 21.3% a year ago, 18.4% during 2024, and 16.9% compared to 2023.

The UAE Minister of Foreign Trade indicated that the great interest in the industrial sector over the past years, in addition to enhancing local content and supporting local industry, had a clear impact in providing goods within the local market, while at the same time enhancing the flow of its exports to regional and global markets.
He expected to achieve a target of 4 trillion dirhams in non-oil foreign trade by the end of the current year 2026, if performance continues at the current rate.
Al-Zeyoudi confirmed that the UAE is currently conducting negotiations with 20 countries to sign comprehensive economic partnership agreements with them, anticipating the completion of negotiations with the European Union at the end of this year.
Regarding expansion plans in ports and logistical infrastructure, especially in the Eastern Region, Al-Zeyoudi said that expansion is continuing in the Eastern Region, whether in Fujairah, Khor Fakkan, or Dibba Port, in addition to expansion in the main ports and associated logistics services.
He pointed to DP World’s announcement, a few days ago, of expanding Jebel Ali Port and increasing its operational capabilities, in addition to strengthening the truck fleet operating in the Gulf region, ensuring the smooth movement of goods.
He also talked about the strategic project announced by Abu Dhabi Ports to link the UAE to the city of Basra, and from there to Turkey and Syria, which represents a very important strategic project, according to his description.
He added that this route has already been tested, not only between Basra and Abu Dhabi, but also to Dubai and Sharjah, and has proven highly efficient. Therefore, it is being expanded significantly, with investment in infrastructure, and accelerating land transport movement between Iraq, Syria and neighboring countries.
From linking the UAE to the city of Basra to developing the Türkiye-Basra axis, as it is also one of the important strategic paths, the minister stated that investments related to it will be accelerated during the coming period.
He stressed that the projects of businessman Mohammed Al-Abbar in Syria are progressing positively, and that all that remains is to complete some approvals, legal procedures and commitments between the two sides, and then the projects will be announced.
He pointed out that it is expected that during the next two or three months the implementation steps and first touches will begin.
He explained that there are plans to expand Emirati projects in Syria, in addition to working to develop a number of free zones in Syria.