Latest news with #Dh490
Al Etihad
07-05-2025
- Business
- Al Etihad
Mohammed bin Rashid meets with foreign trade, CEPA negotiation teams at Ministry of Economy
DUBAI (WAM) His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, met with the Foreign Trade team at the Ministry of Economy and the Comprehensive Economic Partnership Agreements (CEPA) negotiation team, in recognition of their exceptional performance. The teams played a pivotal role in driving the UAE's foreign trade to a historic level in 2024, with total trade reaching Dh5.23 trillion and a trade surplus exceeding Dh490 billion—underscoring the strength and resilience of the national economy. The meeting, which took place at Union House in Dubai, was attended by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE; and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance. During the meeting, which was also attended by Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, His Highness Sheikh Mohammed bin Rashid said that trade has long been a foundation of great civilisations and remains a key pillar of sustainable economic growth. H.H. emphasised that the UAE's success in this vital sector is the result of a forward-looking vision, robust partnerships, flexible policies, and the dedication of teams who see geography not as a boundary, but as a starting point for ambition. H.H. Sheikh Mohammed bin Rashid commended the strong coordination among the entities leading the UAE's foreign trade efforts, encouraging continued innovation to preserve the country's leading position on the global trade map and to sustain the growth of its international trade relations. His Highness Sheikh Mohammed bin Rashid also said that the UAE is not merely keeping pace with global trade, but actively shaping its future. As a strategic bridge between East and West, the nation continues to earn the trust and respect of the international community. His Highness expressed his appreciation to all those contributing to the growth of the UAE's trade ecosystem, noting that their efforts are helping to write the success story of a nation committed to global economic leadership. The meeting was also attended by Lieutenant General H.H. Sheikh Ahmed bin Rashid Al Maktoum, Deputy Chairman of Chief of Police and Public Security in Dubai; H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group; H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, President of the UAE National Olympic Committee; and H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority. The gathering was also attended by a number of Sheikhs, Ministers, Directors General, members of the Federal National Council, dignitaries, and investors. His Highness engaged in discussions with attendees, focusing on the UAE's sustainable development, economic progress, and the private sector's role in driving growth and innovation. The UAE has signed 21 CEPAs so far, expanding its access to global markets in Asia, Africa, and Latin America—markets that collectively represent around 25% of the world's population. These agreements are an integral part of the UAE's 'Projects of the 50', which play a key role in boosting the nation's non-oil trade. The UAE now accounts for 41.4% of the total goods exports in the Middle East, ranking 11th globally in goods exports and 13th in services exports. On the sidelines of the meeting, Sarah Al Amiri, Minister of Education, delivered a lecture on the integration of Artificial Intelligence (AI) into the curriculum of public schools across the UAE. She emphasised the importance of the UAE government's decision in equipping future generations with the skills to master a technology that will have a transformative impact on various aspects of life, extending beyond just work and production to influence societies at large.
Gulf News
20-04-2025
- Business
- Gulf News
UAE President hails Sheikh Mohammed's vision as nation hits record trade milestone
Abu Dhabi: President His Highness Sheikh Mohamed bin Zayed Al Nahyan has lauded the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE, and Ruler of Dubai, following the announcement of a major trade milestone for the country. The UAE's foreign trade reached a record Dh5.23 trillion in 2024, with a trade surplus of over Dh490 billion, as revealed in a post by Sheikh Mohammed on the social media platform X. Responding to the announcement, Sheikh Mohamed bin Zayed praised Sheikh Mohammed's leadership and the commitment of Emirati teams: 'You have never let us down, my brother Bu Rashid. With your vision, and the dedication of determined, sincere, and capable Emirati teams, you continue to demonstrate to the world that the UAE is truly an exceptional country—just as the late Sheikh Zayed, the nation's founding father, envisioned. Thank you, Sheikh Mohammed, and thank you to all our Emirati sons and daughters who are devoted to the progress and prosperity of our nation.'
Khaleej Times
20-04-2025
- Business
- Khaleej Times
UAE foreign trade hits over Dh5 trillion in 2024; 49% increase from 2021
The UAE's foreign trade surged to Dh5.23 trillion in 2024, marking a remarkable 49 per cent increase from Dh3.5 trillion (USD 949 billion) in 2021. The milestone, based on the latest figures from the World Trade Organisation (WTO), was announced on Sunday by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. Sharing the news on social media, Sheikh Mohammed wrote: 'The UAE's foreign trade volume reached Dh5.23 trillion in 2024, with a trade surplus exceeding Dh490 billion, making the country a lever for international trade.' Service exports played a significant role in the UAE's trade performance last year, totalling Dh650 billion, with digital services alone accounting for Dh191 billion — or 30 per cent of all service exports. "This growth in digital trade highlights the country's successful digital transformation and investment in innovation-driven sectors," Sheikh Mohammed added. Meanwhile, goods exports reached Dh2.2 trillion, representing a 6 per cent growth compared to the previous year. Sheikh Mohammed emphasised the UAE's dominant regional position, stating: 'The UAE now accounts for 41 per cent of the Middle East's total commodity exports, confirming its leadership as the region's primary trade centre.' The Dubai Ruler credited the UAE's achievements to its consistent policy of economic openness, international collaboration, and unrestricted movement of trade, capital, and people. "In a world facing major economic and trade challenges, the UAE has chosen from the outset an approach of openness, bridge-building, and freedom of movement of trade, money, and people. Today, it has become a bridge between East and West... and a global economic centre," he said. He also praised the efforts of President Sheikh Mohamed for sustaining the UAE's direction of economic advancement. 'Praise be to God, the achievement will continue,' he said. 'With the follow-up of my brother, the President of the State, we will preserve and enhance the gains.' The Dubai Ruler reaffirmed the UAE's ongoing strategy of openness and economic integration, adding, 'By maintaining our approach of openness, trade liberalisation, and building bridges, growth and leadership will remain our ally, God willing.' Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, echoed the sentiment, highlighting the UAE's rising global trade rankings. 'Driven by visionary leadership and a commitment to economic openness, innovation, and global integration, the UAE has solidified its status as a global trade hub,' he said. According to the minister, the UAE ranked 11th globally in merchandise exports and 13th in services exports last year, with a trade surplus of Dh492.3 billion. This included merchandise exports worth Dh2.22 trillion and services exports of Dh646.6 billion, with digital services making up Dh191 billion. 'These achievements stem from national efforts, flexible policies, and strong international partnerships. The UAE will continue to enhance its global role by facilitating trade, expanding collaborations, and integrating with global value chains," Al Zeyoudi added.
Gulf News
20-04-2025
- Business
- Gulf News
UAE foreign trade surges to Dh5.23 trillion in 2024
Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced that the UAE's foreign trade volume reached Dh5.23 trillion in 2024, with a trade surplus exceeding Dh490 billion. On his X official account, Sheikh Mohammed also revealed that in 2024, the UAE exported services worth Dh 650 billion, including Dh191 billion in digital services, which accounted for 30% of total service exports. Citing the latest data from the World Trade Organization, Sheikh Mohammed added that the UAE exported goods worth Dh2.2 trillion in 2024, representing a 6 percent increase over the previous year. The UAE now accounts for 41 percent of the Middle East's total merchandise exports, reaffirming its position as the region's leading trading hub. 'In a world facing major economic and commercial challenges, the UAE chose, from the very beginning, a path of openness—building bridges, and enabling the free movement of trade, capital, and people,' Sheikh Mohammed wrote. 'Today, the UAE stands out as a vital bridge between East and West, and a dynamic global economic hub,' he added. 'By the grace of Allah, this journey of progress will continue. Under the leadership of the UAE President, we will preserve these achievements and continue to build upon them.'
