UAE-US non-oil trade over Dh111.1b in 2016: Minister of Economy

ABU DHABI: Non-oil trade between the UAE and the USA hit more than Dh111.1 billion — $30.3 billion- by the end of 2016, including free zone trade, against $27.8 billion in 2015, said Sultan Bin Saeed Al Mansouri, Minister of Economy.

“UAE-USA economic relations are based on mutual trust, respect and common interest, and they are progressively growing for the higher good of both countries,” added the minster at a meeting with the US Ambassador to UAE, Barbara Leaf, and her accompanying delegation, in the presence of top executives from the Ministry of Economy.

Al Mansouri reiterated the UAE government’s keenness to continue creating a business-friendly investment conducive to streamlining economic investment and utilising the immense potential boasted by the countries to their best interests, noting that US investments bound to the UAE have tangibly improved over the past years, hitting around $7 billion in 2015.

A total of 305 US companies have been operating in the UAE until 2015, excluding free-zone firms, in addition to 676 trade agencies and 38,290 brands, which translates the robust growth in bilateral ties, he added.

The US ambassador corroborated the importance US is attaching to advancing relations with the UAE across all areas of common concern, noting that the developmental economic model forged by the UAE and the achievements made by the country across different domains over the past years significantly contribute to strengthening bilateral relations, particularly at the level of trade exchange and investment between the two countries.

She underscored the significance of intensifying channels of collaboration and coordination between the two sides to stamp out any obstacles and potential challenges.

 

Abu Dhabi non-oil trade with 4 GCC nations reaches Dh11.33b in five months

The Emirate of Abu Dhabi’s non-oil trade with four GCC states hit Dh11.33 billon during the first five months of the year, with the Kingdom of Saudi Arabia coming on top of the emirate’s Gulf trade partners.

According to the Statistics Centre- Abu Dhabi, the four countries, which include Kingdom of Saudi Arabia, Kingdom of Bahrain, Sultanate of Oman and State of Kuwait claim 15.5 per cent of Abu Dhabi’s total trade with all world countries which stood at Dh73 billion since the beginning of the year until May.

In more detail, Abu Dhabi’s trade with Saudi Arabia is valued at Dh7 billion during the monitored period, accounting for 62 per cent of the emirate’s total trade with the four nations, and reflecting the strong ties binding the two nations across all domains, including trade.

Kuwait comes second among the four nations, with total non-oil trade of Dh1.73 billion, followed by Bahrain at Dh1.6 billion and then Oman at Dh1.1 billion.

Abu Dhabi’s total non-oil trade with the outer world surged to Dh73 billion during the first five months of the year, accounting 43 per cent of the emirate’s total trade all through 2016, which stood at Dh170 billion.

— WAM

Leave a Reply

Your email address will not be published. Required fields are marked *

*

14 − 8 =