The substantial trade volume and ongoing collaboration between the UAE and the US reflect a deep-rooted partnership built on mutual interests and shared objectives
Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent
The country has initiated a raft of bilateral trade, investment and cooperation deals with several fast-growing economies
The agreement is expected to boost trade and investment flows in priority sectors such as logistics, infrastructure, travel, tourism, and renewable energy
The two sides discussed non-oil trade opportunities and discussed ways for the two nations to strengthen their bilateral relationship
The Dubai ruler forecast the UAE’s non-oil foreign trade is on track to reach Dhs2.5tn this year and hit Dh4tn by 2031
From 2013-2022, the trade growth rate between the two countries was 18.2 per cent, growing from Dhs159.72bn to Dhs188.8bn
The UAE has become a catalyst for economic progress in Africa
Their total non-oil trade exchange during the same period also amounted to Dhs188bn, with imports accounting for Dhs77.4bn
Asia accounted for 43 per cent of DAFZ’s total trade with a value of Dhs69.5bn, followed by the Middle East and North Africa
The UAE’s non-oil exports were close to Dhs180bn, reflecting a growth rate of 8 per cent over the same period last year
Abu Dhabi registered a 26 per cent growth in exports valued at Dhs49.5 billion during this period
Exports recorded a growth of 35 per cent year-on-year and were valued at Dhs24.449bn
China was the UAE’s leading trading partner with a total trade of Dhs124.45bn
Saudi Arabia was the emirate’s top trading partner during the period, accounting for Dhs17.91bn worth of trade
Aluminium, as well as fresh and chilled meat, topped the list of commodities imported by the UAE from Australia
The UAE’s non-oil trade in 2019 grew 4.4 per cent from Dhs1.536 trillion in 2018