Dubai Career Diary

The United Arab Emirates has marked a significant achievement in its economic development by reaching a new zenith in its foreign non-oil trade, with transactions totaling AED3.5 trillion ($952 billion) in 2023. This milestone, shared by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, underscores the nation’s enduring resilience and strategic ingenuity in navigating the complexities of the global trade landscape.

In a message that reflected both pride and optimism, Sheikh Mohammed emphasized, “Every morning in the UAE brings about a new achievement, for which we are grateful. Today, we celebrate our non-oil foreign trade in goods and services achieving an unprecedented benchmark of AED3.5 trillion in 2023, setting a new record in our nation’s economic narrative, inspite of the global downtrend in international trade, as reported by the United Nations Conference for Trade and Development.”

This unparalleled accomplishment is attributed to the UAE’s proactive approach towards cultivating and deepening partnerships across the globe. The nation witnessed a significant upsurge in trade with its top ten trading partners, with commercial activities with Turkey escalating by more than 103%, trade with Hong Kong-China soaring by 47%, and dealings with the United States growing by 20% over the course of just one year.

Sheikh Mohammed praised the UAE’s pivotal role in the global trading ecosystem, emphasizing the nation’s capabilities in fostering robust economic relations worldwide. He further reiterated the UAE’s ethos of commitment and fulfillment of its pledges, positioning the Emirates as a central and influential force in international trade dynamics.