Latest news with #ThaniAlZeyoudi
Zawya
2 days ago
- Business
- Zawya
Dubai Chambers hosts roundtable in the presence of European Commissioner for Trade and Economic Security to strengthen trade cooperation with the European Union
H.E. Dr. Thani Bin Ahmed Al Zeyoudi: 'The EU-UAE Investment Roundtable is an important opportunity for business leaders from across all industries to build the relationships that can drive trade and investment to even greater heights.' H.E. Eng. Sultan Bin Saeed Al Mansoori: 'Dubai and the European Union share deep-rooted economic ties built on common interests, mutual aspirations, and a joint commitment to developing a diversified and sustainable economy.' The value of non-oil trade between Dubai and EU countries reached AED 206 billion in 2024, representing year-over-year growth of 8%. Dubai attracted 380 foreign direct investment (FDI) projects from EU countries in 2024 with a value of AED 11.3 billion, achieving a 6.7% increase in project count and a 106% surge in investment value compared to 2023. Dubai's investments in EU countries between 2020 and 2024 reached a combined value of AED 9.5 billion and contributed to the creation of 8,000 jobs. 15,248 companies from EU countries were registered as active members of Dubai Chamber of Commerce at the end of Q1 2025, representing year-over-year growth of 27%. Dubai, UAE – Dubai Chambers explored prospects for enhancing trade and investment cooperation between Dubai and European Union countries today during a roundtable with a high-level delegation led by H.E. Maroš Šefčovič, European Commissioner for Trade and Economic Security. The roundtable was attended by H.E. Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers; H.E. Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; H.E. Lucie Berger, Ambassador of the European Union to the United Arab Emirates; H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Mr. Leon Delvaux, Director at the Directorate-General for Trade and Economic Security, together with representatives from Dubai and the European private sectors. H.E. Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, commented: 'The European Union is one of the main pillars of the global economy and our second-most important trade partner. As we accelerate efforts to bring our markets closer together, it is important we build the platforms for our private sectors to identify and explore areas for collaboration, particularly in sectors that align with our economic diversification objectives. The EU-UAE Investment Roundtable is an important opportunity for business leaders from across all industries to build the relationships that can drive trade and investment to even greater heights.' H.E. Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, stated: 'Dubai and the European Union share deep-rooted economic ties built on common interests, mutual aspirations, and a joint commitment to developing a diversified and sustainable economy. Today's roundtable is designed to advance collaboration in high-potential sectors and identify new avenues for growth. We are committed to supporting European companies and enabling them to expand and thrive while leveraging Dubai as a strategic hub to access new opportunities across local and regional markets.' The roundtable highlighted the growing economic relations between Dubai and the EU. The total value of non-oil trade between Dubai and EU member states reached AED 206 billion in 2024, representing year-on-year growth of 8%. In a further indication of Dubai's growing appeal as a leading business hub for European investors, the emirate attracted 380 foreign direct investment (FDI) projects from EU countries last year, with a total value of AED 11.3 billion. This represents a 6.7% year-on-year increase in the number of projects and a remarkable 106% rise in the total value of investment projects. The total value of Dubai's investments in EU countries between 2020 and 2024 amounted to AED 9.5 billion, creating 8,000 jobs in European markets. A total of 15,248 companies from EU countries were registered as active members of Dubai Chamber of Commerce at the end of Q1 2025, representing year-over-year growth of 27%. In addition, 4,693 new European companies joined Dubai Chamber of Commerce during 2024. About Dubai Chambers Dubai Chambers is a non-profit public entity that supports Dubai's vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber of Commerce and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers.
Straits Times
3 days ago
- Business
- Straits Times
UAE minister says trade talks with EU not a hurdle for deal between GCC and bloc
UAE minister says trade talks with EU not a hurdle for deal between GCC and bloc DUBAI - The United Arab Emirates does not see bilateral talks for a free trade deal with the European Union as an obstacle to a similar agreement between the 27-nation bloc and the Gulf Cooperation Council, the UAE's trade minister said on Wednesday. "We're not seeing this as a hurdle, we are seeing it's a flow which is going to be starting from here and moving to the the blocs are much slower than the bilateral, and that's why we're starting here, so we can move quickly," Thani Al Zeyoudi told reporters. He said the UAE was keen to conclude a bilateral deal with the EU "in a very short period, three to six months from now." He was speaking in Dubai beside the EU trade commissioner Maros Sefcovic as the EU and the UAE officially launched talks. The UAE, an influential, oil-rich Middle East state, has long advocated deeper EU involvement in the Gulf region, with the GCC the EU's sixth-biggest export market. Since 2021, the UAE has initiated a raft of bilateral trade, investment and cooperation deals - called Comprehensive Economic Partnership Agreements - to reduce its dependence on fossil fuels and bolster long-term growth prospects. The EU and the GCC started trade talks 35 years ago but talks were formally suspended in 2008. Zeyoudi said bilateral talks that the UAE held with New Zealand and South Korea in the past had led to trade agreements with the GCC. He said the UAE also had the opportunity to start bilateral talks with the UK and that China had also approached the Gulf country for bilateral discussions, but said UAE would prioritise GCC talks. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
3 days ago
- Business
- Yahoo
UAE minister says trade talks with EU not a hurdle for deal between GCC and bloc
By Federico Maccioni DUBAI (Reuters) -The United Arab Emirates does not see bilateral talks for a free trade deal with the European Union as an obstacle to a similar agreement between the 27-nation bloc and the Gulf Cooperation Council, the UAE's trade minister said on Wednesday. "We're not seeing this as a hurdle, we are seeing it's a flow which is going to be starting from here and moving to the the blocs are much slower than the bilateral, and that's why we're starting here, so we can move quickly," Thani Al Zeyoudi told reporters. He said the UAE was keen to conclude a bilateral deal with the EU "in a very short period, three to six months from now." He was speaking in Dubai beside the EU trade commissioner Maros Sefcovic as the EU and the UAE officially launched talks. The UAE, an influential, oil-rich Middle East state, has long advocated deeper EU involvement in the Gulf region, with the GCC the EU's sixth-biggest export market. Since 2021, the UAE has initiated a raft of bilateral trade, investment and cooperation deals - called Comprehensive Economic Partnership Agreements - to reduce its dependence on fossil fuels and bolster long-term growth prospects. The EU and the GCC started trade talks 35 years ago but talks were formally suspended in 2008. Zeyoudi said bilateral talks that the UAE held with New Zealand and South Korea in the past had led to trade agreements with the GCC. He said the UAE also had the opportunity to start bilateral talks with the UK and that China had also approached the Gulf country for bilateral discussions, but said UAE would prioritise GCC talks.
Zawya
3 days ago
- Business
- Zawya
UAE, EU continue talks on Comprehensive Economic Partnership Agreement
Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, welcomed Maroš Šefčovič, EU Commissioner for Trade and Economic Security, to the UAE for ongoing talks regarding the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the EU. The visit also included an investment roundtable with representatives from leading private sector companies aimed at exploring opportunities for increased collaboration and investment flows between the EU and UAE. The UAE-EU CEPA is poised to be a significant milestone in strengthening economic ties and unlocking new avenues for trade and cooperation. The agreement will pave the way for the removal of trade barriers, enhance market access for goods and services, and stimulate investment in key sectors. By consolidating access to the EU market, the second largest economic bloc in the world, the CEPA will reinforce the UAE's status as a global trade and logistics hub. The EU is already one of the UAE's key trading partners, accounting for 8.3% of non-oil trade. In 2024, non-oil trade between the two reached US$67.6 billion, representing a growth of 3.6% over 2023. Al Zeyoudi emphasised the importance of the CEPA with the EU, stating, 'Our negotiations toward a UAE-EU Comprehensive Economic Partnership Agreement is of great importance to both the UAE and the EU and represents an extraordinary opportunity for us both to enhance trade and investment ties that will foster greater collaboration and create mutual benefits and prosperity. By working together, we will strengthen our supply chains, drive innovation, and create jobs that will benefit our communities and economies for many years to come.' Maroš Šefčovič commented, 'Europe continues to be a reliable trading partner, which respects the deals it makes. And it is natural to seek to grow our relations with long-standing and trusted partners like the United Arab Emirates. A bilateral FTA would unlock tremendous business opportunities for European and Emirati businesses alike. Our aim is therefore to reach an ambitious deal that is commercially meaningful on both sides – one that brings tangible, lasting benefits, along with predictability, so essential to any successful business. This would add strength to our regional cooperation with the Gulf Cooperation Council countries.' During the investment roundtable, representatives from the UAE and the European private sectors, engaged in discussions to identify mutual investment opportunities that can drive innovation and sustainable economic development. FDI flows between the UAE and EU are strong and robust, with recent partnerships in data centres in Italy, solar plants in Spain, and neighbourhood redevelopment in Budapest. A UAE-EU CEPA has the potential to unlock further opportunities, including a US$50 billion AI data centre deal with France and a US$40 billion commitment in Italy's energy and defense sectors. The CEPA programme is a key pillar of the UAE's foreign trade agenda, reflecting the nation's commitment to open, rules-based trade to drive economic growth and diversify its economy. By enhancing access to global markets and establishing stronger trade and investment flows with partners around the world, the CEPA programme has contributed to a record non-oil trade of US$816 billion in 2024, marking a 14.6% increase over 2023.
Zawya
3 days ago
- Business
- Zawya
Dubai Chambers hosts roundtable to strengthen trade cooperation with EU
Dubai Chambers explored prospects for enhancing trade and investment cooperation between Dubai and European Union countries today during a roundtable with a high-level delegation led by Maroš Šefčovič, European Commissioner for Trade and Economic Security. The roundtable was attended by Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers; Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade; Lucie Berger, Ambassador of the European Union to the United Arab Emirates; Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Leon Delvaux, Director at the Directorate-General for Trade and Economic Security, together with representatives from Dubai and the European private sectors. Dr. Thani Al Zeyoudi commented, 'The European Union is one of the main pillars of the global economy and our second-most important trade partner. As we accelerate efforts to bring our markets closer together, it is important we build the platforms for our private sectors to identify and explore areas for collaboration, particularly in sectors that align with our economic diversification objectives. The EU-UAE Investment Roundtable is an important opportunity for business leaders from across all industries to build the relationships that can drive trade and investment to even greater heights.' Sultan Bin Saeed Al Mansoori stated, 'Dubai and the European Union share deep-rooted economic ties built on common interests, mutual aspirations, and a joint commitment to developing a diversified and sustainable economy. Today's roundtable is designed to advance collaboration in high-potential sectors and identify new avenues for growth. We are committed to supporting European companies and enabling them to expand and thrive while leveraging Dubai as a strategic hub to access new opportunities across local and regional markets.' The roundtable highlighted the growing economic relations between Dubai and the EU. The total value of non-oil trade between Dubai and EU member states reached AED 206 billion in 2024, representing year-on-year growth of 8%. In a further indication of Dubai's growing appeal as a leading business hub for European investors, the emirate attracted 380 foreign direct investment (FDI) projects from EU countries last year, with a total value of AED11.3 billion. This represents a 6.7% year-on-year increase in the number of projects and a remarkable 106% rise in the total value of investment projects. The total value of Dubai's investments in EU countries between 2020 and 2024 amounted to AED9.5 billion, creating 8,000 jobs in European markets. A total of 15,248 companies from EU countries were registered as active members of Dubai Chamber of Commerce at the end of Q1 2025, representing year-over-year growth of 27%. In addition, 4,693 new European companies joined Dubai Chamber of Commerce during 2024.
