UAE, EU to enhance trade ties and promote investment opportunities
A UAE delegation including Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Ahmed Al Sayegh, Minister of State, has visited Brussels, Belgium, for meetings with senior European Union (EU) officials and members of the Belgian government to strengthen economic ties, promote investment opportunities, and identity areas for further collaboration.
The European Union is the UAE's second-largest global trade partner, sharing $67.6 billion in non-oil trade 2024, a 3.6 per cent increase on 2023 and 18.1 per cent more than was recorded in 2022.
The EU now accounts for 8.3 per cent of the UAE's total non-oil foreign trade.
During talks with Maros Sefcovic, EU Commissioner for Trade and Economic Security, Al Zeyoudi reviewed the key drivers behind the UAE's strong trade relations with the European Union, particularly in advanced manufacturing, healthcare and e-commerce.
The two sides also identified opportunities for increased investment flows into high-growth sectors such as logistics and renewable energy.
Highlighting the deep economic and business ties between the UAE and European Union, Al Zeyoudi said: 'The European Union is a highly valued trade and investment partner for the UAE, with ties that continue to deepen across a range of sectors.' 'This is evidenced not only by increasing trade exchanges but also through strategic collaboration in areas such as food security, energy transition and advanced technology.'
'Both sides believe there is significant potential to maintain the positive trajectory of bilateral trade and investment flows - both on an EU-wide level and with individual member nations. This week's meetings have underlined the benefits of doing so.'
For his part, Ahmed Al Sayegh said that closer ties are essential to navigating a challenging global economy. 'The UAE has long recognised the importance of constructive dialogue, particularly on matters of trade and global supply chains.
Both the UAE and the European Union are committed to ensuring that trade remains open and accessible and this week's meetings have enabled us to identify areas of collaboration that can preserve the free flow of goods and services between our economies.'
'We look forward to building on these foundations and ensuring we can deliver prosperity for both our peoples.'
Al Zeyoudi also participated in a roundtable discussion on UAE trade policy at the European Policy Centre (EPC) alongside Fabian Zuleeg, Chief Executive and Chief Economist of the EPC, where they discussed the imperative of preserving open, rules-based trade.
During the session, Dr Thani highlighted the extensive benefits of the UAE's Comprehensive Economic Partnership Agreement (CEPA) programme, through which the UAE as concluded 27 deals to date.
He also emphasised the opportunities for further collaboration between the UAE and the EU in key areas such as food security, advanced manufacturing, healthcare, logistics, and artificial intelligence.
Al Sayegh and Al Zeyoudi held a bilateral meeting with Maria Luis Albuquerque, EU Commissioner for Financial Services and Financial Stability, to discuss the key role of the financial sector in facilitating global trade.
The two sides highlighted ways to improve small businesses' access to supply chains, reduce trade barriers, and enhance cross-border payments through financial technology solutions, including blockchain and decentralised finance. While in Brussels, Dr Thani Al Zeyoudi and Ahmed Al Sayegh also held meetings with senior officials in the Belgium government, including Maxime Prévot, Deputy Prime Minister and Minister of Foreign Affairs, Theo Francken, Minister of Foreign Trade, Annelies Verlinden, Minister of Justice of the Kingdom of Belgium, and David Clarinval, Deputy Prime Minister and Minister of Employment, Economy, and Agriculture.
Bilateral non-oil trade between the UAE and Belgium reached $4.7 billion in 2024, and both sides agreed to create more pathways for cooperation, particularly in sectors such as energy, logistics and manufacturing.
Al Zeyoudi was joined in Brussels by Ahmed Al Sayegh, Minister of State, Saeed Al Hajeri, Assistant Minister for Economic and Trade Affairs, and Juma Al Kait, Assistant Under Secretary for Foreign Trade Affairs.
The visit to Brussels, and the UAE's expanding economic ties with the European Union, underscore the country's forward-looking vision to cement its position as a global leader in trade and investment by enhancing partnerships with all 27 member states of the bloc.
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