Meeting discusses new strategies, plans to enhance UAE exports

Business Bureau, Gulf Today

Dr Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, recently visited Dubai Exports, the export promotion agency of Dubai Economy, to discuss closer co-ordination and co-operation on enhancing exports from the UAE.

Al Zeyoudi was received by Engineer Saed Al Awadi, CEO of Dubai Exports, in the presence of Their Excellences Ali Ibrahim, Deputy Director General of Dubai Economy, and Abdullah Al Saleh, the UAE Ministry of Economy’s Undersecretary for Foreign Trade Affairs.

Dubai Exports also briefed the Minister on its services and focus areas, especially those related to developing capabilities and policies that enable exporters enter international markets, in addition to new initiatives and future cooperation with the Ministry.

Al Zeyoudi said: “The development and promotion of non-oil exports from the UAE is a priority for the Ministry of Economy. It is also a major focus within the package of 33 initiatives approved by the government to support economic sector and stimulate business activity.

The Ministry is committed to enhancing co-operation with all relevant authorities at the federal and local levels to support exporters in the UAE and increase their access to global markets.”

Al Zeyoudi highlighted the role played by Dubai Exports in developing the capabilities of exporters in the emirate, opening new markets for them and providing services that enhance their competitiveness in foreign markets, which serve the country’s objectives of increasing the volume of non-oil foreign trade and expanding business partnerships.

Al Zeyoudi added: “We will work to raise the level of coordination and cooperation with Dubai Exports to develop future frameworks to further encourage and enhance national exports, and enable exporters to diversify their markets, thus supporting our strategic goals.”

Al Awadi commented: “We welcome the visit of Al Zeyoudi, and we are happy to continue our co-operative approach that we have adopted from the outset with the Ministry of Economy and all federal institutions.”

“We are also satisfied to have apprised the Minister on our services, initiatives and efforts, covering all stages of the export journey.”

Al Awadi added: “We will continue to launch new initiatives and plans that guarantee comprehensive support for exporters in Dubai and across the UAE.”

“Dubai Exports has worked with the Ministry of Economy on varied projects as part of strengthening our support for exporters and ensuring the sustainability of Dubai’s export sector.”

Concluding his visit, the Minister requested that a multi-disciplinary plan be developed to ensure sustainable growth of exports from the UAE, especially in light of the challenges brought forth by COVID-19.

Dubai achieved Dhs323 billion worth of non-oil trade during January-March 2020, which is a 2 per cent growth compared to the same period in 2019 - and exports had a share of Dhs43 billion.

Dubai Exports, an agency of Dubai Economy (Department of Economic Development - Government of Dubai) commenced operations in 2007.

The Dubai Exports’ mandate is to facilitate trade from Dubai and establish itself as a world-class export development and promotion body by creating an enabling environment for Dubai’s exporters.

Dubai Exports has developed a range of value-added trade support services to UAE-based firms exporting through Dubai, for accelerated and profitable expansion of their businesses in foreign markets.

Earlier Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held a virtual meeting with Ranil Jayawardena, British Minister for International Trade, to discuss the frameworks of bilateral trade and economic partnerships. The meeting also discussed new opportunities to expand the scope of the existing partnerships in accordance with the priorities of the coming stage, in order to serve the strategic and development aspirations and visions of the two friendly countries.

Direct investments by the UK in the UAE’s markets exceeded the $20 billion, while Emirati direct investments in the UK amounted to more than $16 billion.

Additionally, the meeting discussed the ongoing efforts to initiate discussion on a free trade agreement between the GCC and the UK.

During the meeting, Dr Al Zeyoudi underscored the UAE’s strong commitment to enhance bilateral cooperation with the UK in all fields of interest, especially in the area of trade and investments.