Al Zeyoudi Outlines UAE Trade Strategy to Secure Economic Resilience

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has detailed the strategic frameworks designed to maintain the UAE’s economic stability and its status as a primary global trade hub. The strategies focus on expanding international trade networks and diversifying the national economy away from hydrocarbon dependency. Trade Expansion Through CEPA A central pillar of the strategy is the Comprehensive Economic Partnership Agreement (CEPA) program. To date, the UAE has concluded agreements with major economies including India, Indonesia, Israel, and Turkey. These partnerships are designed to eliminate or significantly reduce tariffs, remove unnecessary barriers to trade, and facilitate investment flows. The government aims for these agreements to eventually cover more than 90% of the country’s global trade volume. Recent data supports this trajectory, with the UAE’s non-oil foreign trade reaching a record AED 1.239 trillion in the first half of 2023, representing a 14.4% increase compared to the same period in 2022. This growth is linked to the increased legal flexibility regarding foreign ownership and the implementation of long-term residency visas for…