Non-oil foreign trade through Abu Dhabi’s ports hits Dhs281.9b - GulfToday

Non-oil foreign trade through Abu Dhabi’s ports hits Dhs281.9b

Abu Dhabi Ports committed to deliver on the goals in Vision 2030

The photo has been used for illustrative purposes.

The total volume of non-oil foreign trade through the border crossings of the Emirate of Abu Dhabi amounted to Dhs281.903 billion during the year 2023, with a growth rate of 8 percent compared to Dhs260.435 billion in 2022.

Imports grew by 19 percent during the past year, reaching a value of Dhs136.45 billion, compared to Dhs114.355 billion in 2022. Re-export activities also achieved a growth of 11 percent, reaching a value of Dhs52.394 billion, compared to Dhs47.277 billion in 2022.

Rashed Lahej Al Mansoori, Director-General of the General Administration of Abu Dhabi Customs, emphasised that the growth rates reflect Abu Dhabi’s economic expansion across all sectors, which contributes an active role in driving the economic growth wheel of the country, resulting from the policies, decisions and strategic initiatives adopted by the UAE government to create a business environment open to the global economies, thereby enhancing the country’s competitiveness.

Al Mansoori further explained that Abu Dhabi Customs, as part of its strategic vision to achieve global leadership, continuously adopts the latest technologies and systems to develop its operational and procedural efficiency and provide distinctive services that facilitate trade movement and accelerate customs procedures. This includes providing proactive services and expanding the scope of the ‘Invisible Customs System’, which streamline time and effort for customers, facilitate customs inspection procedures, and support the completion of transactions with high accuracy and speed. These efforts contributed to the growth of Abu Dhabi’s non-oil trade during the past year and achieving a 100 percent compliance rate with the World Customs Organisation’s SAFE framework of standards.

Abdulla Gharib Al Qemzi, Acting Director-General of Statistics Centre - Abu Dhabi, said, “The Emirate of Abu Dhabi witnessed significant growth in several key economic activities during 2023, which was directly reflected in the growth of foreign trade through the Emirate’s ports. These results reflect the ongoing economic diversification efforts, demonstrating the strength and flexibility of the Emirate’s economy. With the acceleration of non-oil activities growth and a strong infrastructure supporting it, Abu Dhabi’s economic position on the global scale is further solidified.”

AD Ports Group, Adnoc Distribution sign agreement: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has announced today that its Ports Cluster is expanding its business remit to the global distribution of marine lubricants.

The announcement came following a strategic agreement inked with Adnoc Distribution, the UAE’s leading manufacturer of marine and automotive lubricants.

Under the terms of the agreement, the Ports Cluster will leverage its connections and advanced infrastructure to distribute high-demand, global standard lubricants, to customers in the UAE during the initial stages, which will then be broadened to encompass a global footprint of distribution. Both parties have agreed to jointly work on expanding the global marine lubricants market due to its significant importance for the shipping and maritime industries.

Commenting on the deal, Saif Al Mazrouei, CEO - Ports Cluster, AD Ports Group, said, “This agreement will see two major global corporations, with vast expertise in their respective fields, creating new opportunities within the marine lubricants market. The distribution solutions offered by the Ports Cluster, which now owns or operates 24 terminals globally, add tremendous value to our partners and stakeholders. This collaboration underscores our commitment to delivering unparalleled value to our customers worldwide.”

Bader Saeed Al Lamki, CEO, ADNOC Distribution, said, “As a leading manufacturer of marine, industrial and automotive lubricants in the UAE, ADNOC Distribution offers an extensive range of lubricant products that perform in any environment. By signing a strategic agreement with the Ports Cluster, part of AD Ports Group, we are further expanding the distribution base for our products, gaining access to over 70 international destinations to provide the highest quality lubricants, and facilitating a consistent and trusted supply for our valued customers.”

 Decarbonisation: Decarbonisation has become an important common challenge for Japan and the UAE, according to Yoshida Nobuhiro, Parliamentary Vice-Minister of Economy, Trade and Industry of Japan.

“The UAE is a key partner for Japan in clean energy endeavours, with a robust bilateral relationship over many years,” he said in an interview with the Emirates News Agency (WAM) during the World Future Energy Summit in Abu Dhabi, organised by Masdar, Abu Dhabi Future Energy Company.

Discussing bilateral economic relations, clean energy initiatives, and cooperation under the Abu Dhabi-headquartered International Renewable Energy Agency (IRENA), Nobuhiro reiterated Japan’s commitment to “global green energy hub” between Japan and the UAE as proposed by Japanese Prime Minister Fumio Kishida during his visit to the UAE last year. The minister underscored collaborative efforts at the UN Climate Conference (COP28), successfully hosted by the UAE in Dubai last year, where Japan and the UAE worked together on various events. Prime Minister Kishida proposed to utilise the Japanese financial and technological capability to advance clean energy agendas across the world, especially in the Asia-Middle East region, he noted.

WAM

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