[ad_1]
Sheikh Mohammed and Sheikh Hamdan discuss a project in Dubai. file/WAM
UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, confirms that UAE’s non-oil trade breaks through in the first half of 2022, surpassing AED1 trillion, achieving growth 17% growth in the second half of 2021.
His Highness Sheikh Mohammed said: “For the first time in the history of the UAE, non-oil foreign trade exceeded AED1 trillion in just half a year… We reached AED1 trillion and AED58 billion, an increase of 17% Over the past six months, the UAE has once again demonstrated to the world the revival of international trade after the most difficult pandemic for humanity.”
He added: “Our economic growth is progressive and solid, our trading environment and infrastructure are the best, our economic approach is stable, fair and open to all… Our people provide the best possible life.”
In the first half of this year, the UAE’s non-oil foreign trade reached a record high of AED 10.53 trillion. This figure is an increase of 17% compared to the first half of 2021, 25% and 35% compared to the same period in 2020 and 2019, respectively.
These figures reaffirm the success of the UAE’s strategic direction and vision to accelerate a full recovery after overcoming the negative impact of the spread of the COVID-19 pandemic on international trade.
Economy Minister Abdullah Bin Touq Al Marri said the UAE is continuously working to strengthen its regional and global leadership and its centrality in global trade networks by adopting business and economic opening and strengthening its infrastructure and legislative framework.
Bin Touq added that the result marks the beginning of a phase of economic development unprecedented in the country’s history, and is the result of the combined efforts and initiatives announced by the UAE government as part of the ’50 Year Project’.
Dr. Sani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: “The unprecedented performance of non-oil foreign trade can be attributed to the forward-looking vision of the wise leadership aimed at expanding the UAE’s It is positioned as a major contributor to the doubling of the national economy by 2030.”
Al Zeyoudi also explained that this achievement is the result of forward-looking plans and various initiatives undertaken by the UAE to develop and diversify exports, which have had a significant impact on achieving record growth in trade performance in just six months.
In the first half of 2022, non-oil exports from the UAE reached around AED180 billion for the first time in its history. 8% YoY in 2021, 53% YoY in the first half of 2020, 50% YoY in 2019, and 69% YoY in 2018. It almost doubled compared to the same period in 2017.
In terms of re-exports, the UAE achieved unprecedented success in the first half of 2022. It is approaching the Dh300 billion mark for the first time in its history. The results show a high growth rate compared to previous years, with increases of 20%, 51%, 16% and 23% compared to the same period in 2021, 2020, 2019 and 2018, respectively.
In addition, the UAE’s imports reached the AED580 billion mark in the first half of 2022 for the first time in its history. This is a 19% increase compared to the same period in 2021, a 49% increase compared to the same period in 2020, a 24% increase compared to the first half of 2019, and a 25% increase compared to the same period in 2018.
On the other hand, the share of UAE non-oil trade imports has fallen to 55%, while the share of non-oil exports is 17%. In addition, the share of re-exports reached 28%.
These results show that national exports have achieved substantial growth and significant dynamism, increasing their contribution to national non-oil trade.
Dr. Thani bin Ahmed Al Zeyoudi expects the UAE’s non-oil foreign trade to grow significantly, especially with the signing and launch of the Comprehensive Economic Partnership Agreement (CEPA) with several countries by the end of this year.
In an interview with the Emirates News Agency (WAM), Dr. Al Zeyoudi said this is in line with the forward-looking vision of the UAE leadership to expand the country’s trade with the world and enhance its position as a key driver for doubling the national economy by 2030. Contributor.
He described the UAE’s foreign trade data breakthrough in the first half of 2022, exceeding AED 1 trillion, an increase of 17% compared to the second half of this year, which is unprecedented.
Dr. Al Zeyoudi stressed that these figures are the result of the UAE leadership, the country’s legislative structure, plans and investments aimed at strengthening the country’s cooperation with other countries through the signing of the Comprehensive Economic Partnership Agreement (CEPA). In terms of local and international infrastructure, securing exports and re-exports into international supply chains and strengthening the country’s position as a major global trade gateway.
In the first half of 2022, the UAE’s non-oil exports reached around AED 180 billion for the first time in its history, up 8% compared to the same period in 2021. In terms of re-exports, the UAE achieved unprecedented success in the first half of 2022, approaching the AED300 billion mark, a 20% increase compared to the same period in 2021. In addition, the UAE’s imports increased, approaching the AED580 billion mark in the first half of 2022, an increase of 19% compared to the same period in 2021.
Dr. Al Zeyoudi said these unprecedented figures also highlighted the growing demand for the UAE market due to its attractive investment environment. He added that the country is continuing to strengthen international partnerships with strategic markets around the world, stressing that after the two countries signed CEPA, the country’s trade with India has grown by 20 percent, in addition to its partnership with Africa. country and the Republic of Turkey.
Al Zeyoudi expects trade growth to increase significantly, especially with the signing of CEPA with Indonesia and Israel in 2022 and the national economy by 2030, he noted.
Foreign trade, an important part of the national economy, is a key indicator of the success of the country’s economic diversification policy and the development of the economic sector, which will have a positive impact amid the rapid recovery of oil prices in the global economy, he added.
These unprecedented figures may also be attributed to the combined efforts of various federal authorities, including the Ministry of Foreign Affairs and International Cooperation, which has led the push for cooperation with other countries, as well as the Ministry of Industry and Advanced Technology and the Ministry of Foreign Trade, as well as other local authorities and the private sector.
Meanwhile, after two months of spotlighting Dubai’s extraordinary summer destination and attracting local and international audiences to explore the city’s top resorts, the summer phase of the popular #DubaiDestinations campaign ended today, generating a record-breaking number of viewers engagement and response.
An initiative announced by the Dubai Media Council at the direction of Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council, the #DubaiDestinations campaign aims to deliver interactive and engaging Stories to capture and share the spirit of the city as a destination. Make Dubai a truly unique place to explore. The next phase of the campaign will be launched by the Dubai Media Council later this year, highlighting Dubai’s top experiences, outdoor activities and activities, and hospitality and dining options in winter.
Launched in December 2021, the Creative Media Programme is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai the most livable and visited place in the world Cities, the creative media programme has become a year-long event that showcases Dubai as a city for all seasons, capable of offering a range of experiences to suit the tastes and interests of people of all ages and nationalities.
Dubai Brands, the creative arm of the Dubai Government Media Office, works with the creative community to make them an integral part of the campaign. Shaima Al Suwaidi, Dubai Brand Director, said: “The latest phase of the #DubaiDestinations campaign has touched the hearts and minds of local communities as well as regional and global audiences, encouraging them to visit the city’s unique destinations and encourage them to explore new activities. Dubai is a world leader One of the top tourist destinations in 2022, receiving 7.12 million international tourists in the first half of 2022. The city’s safety, connectivity and accessibility greatly contributed to the success of the summer event, which attracted a large number of visitors from the creative community, Families and tourists interact and share their experiences at various destinations in Dubai. Dubai Brands will continue to work with various stakeholders and creators to implement the next phase of the campaign, which will launch in winter.”
The latest phase of the campaign encourages Dubai’s diverse community to explore the city’s unique destinations during the summer. Creative guides, colorful social media posts and cross-platform storytelling invite audiences to indulge in Dubai’s unique offerings, from beach activities, hotel dining and family-friendly activities to water parks, water sports adventures and indoor entertainment. These events and activities capture the essence of the Dubai summer experience and underline its emergence as a one-of-a-kind summer destination. The event coincides with the start of the school’s summer break.
Some of the UAE’s most accomplished creative minds, including influencers, photographers, digital media content creators, animators and videographers, have come together to create engaging content through traditional and new media to enhance the city’s main attractions and leisure purposes the city’s popularity, while capturing Dubai’s unique summer vibe.
Over the summer, the event took place on multiple social media platforms including Instagram, Twitter and Facebook, with over 3.3 million participants and over 50 million video views. Hundreds of videos and promotional content produced by the creative community showcase Dubai’s hotspots, hidden gems and exciting events, making Dubai one of the most popular destinations in the world.
As part of the latest phase of the campaign, the Dubai brand has developed a series of interactive bilingual guides to help people discover the city’s vibrant hotspots and create memorable moments with family and friends. These guides cover exciting summer and weekend activities, summer camps, waterfront dining options, and other businesses with fun summer projects.
WAM
[ad_2]
Source link