Skip to content Skip to Search
Skip navigation

Trade

Trade news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

Modi UAE visit

Flower, Flower Arrangement, Plant

Modi’s UAE visit ‘adds to execution of deals’

Indian prime minister Narendra Modi deftly blended politics and commerce last week as he opened the Middle East’s largest Hindu temple on a visit to the UAE, a Muslim state that is home to 3.5 million Indian expatriates and a major trading ally.  The temple’s inauguration was widely covered in Indian media, while tens of […]

India's PM Narendra Modi waves at supporters gathered at Zayed Sports Stadium in Abu Dhabi on Tuesday

Modi’s visit to Abu Dhabi deepens UAE-India trade ties

Top-level talks between the UAE and India have taken place in Abu Dhabi, on the back of a deal to strengthen their ties and a 16 percent rise in bilateral trade. Sheikh Mohamed bin Zayed Al Nahyan, the president of the UAE, and Narendra Modi, India’s prime minister, met on Tuesday to review progress since […]

Narendra Modi, India's PM, was met by Sheikh Mohamed bin Zayed, the president of the UAE, on his arrival in Abu Dhabi

Maharashtra plans food security corridor with UAE

The central Indian state of Maharashtra is working to develop a food security corridor with the UAE. The government of Maharashtra, which has 11 million farmers, has linked up with US fund manager Pegasus Capital Advisors for the food trade project. Under their agreement, the Maharashtra authorities will share an operational plan within three months, […]

Turkey's stall at the India International Trade Fair in New Delhi: trade and investment opportunities between India and the region are increasing, says HSBC

$112bn of trade with India ‘ready to be tapped’

Untapped trade opportunities between India and the Middle East, North Africa and Turkey could be worth more than $112 billion, research has found. An HSBC report, which analyses data from the UN/WTO International Trade Centre, estimates that there is a $61 billion export gap for Indian companies in the key markets of the UAE, Saudi […]

Latest Trade News

Crowd, Person, Electrical Device

UAE and US non-oil trade reached $31bn in 2023

Non-oil trade between the UAE and the US reached $31.4 billion in 2023, said Danny Sebright, president of the US-UAE Business Council. Trade is projected to grow at the same pace this year, the UAE state-owned Wam news agency reported, citing Sebright. US exports to the UAE reached $24.8 billion last year, rising 19 percent […]

Turkish president Tayyip Erdogan and UK prime minister Rishi Sunak at a Nato summit in 2023. The UK is hoping to increase services exports to Turkey

UK and Turkey open fresh trade negotiations

The UK and Turkey have launched fresh trade talks targeting the services sector as part of any new deal. The two countries are planning to enhance their current trade deal, which was negotiated back in the 1990s and has remained despite the UK leaving the European Union in 2020. Bilateral trade stood at £26 billion […]

People accept gifts from a man dressed as the Chinese God of Wealth during Spring festival in Zaozhuang, Shandong Province. The region is vital to China's economy

Saudi Arabia courts China’s Shandong province

Saudi Arabia is targeting more investment from the Chinese province of Shandong after hosting a delegation of more than 200 private sector and government officials. The Economic Cities and Special Zones Authority (ECZA), in collaboration with Invest Saudi, entertained the visitors last week with the aim of cultivating investment prospects for Chinese enterprises considering expansion […]

Buildings taller than 90m are banned in Budapest to preserve the city's architecture

UAE developer wins $6bn Budapest contract

An Emirati developer has finalised a €5.5 billion ($6 billion) deal to transform a rundown area of Budapest in the same week that the UAE and Hungary signed an economic cooperation agreement aimed at improving bilateral trade and investment. Eagle Hills International, which is based in Abu Dhabi, has partnered with the Hungarian government to […]

Italian exporters Dubai boat show 2024

Boats, baubles and balsamic lift Italian exports to UAE

Italian boat manufacturers were out in force at the Dubai International Boat Show earlier this month, doubtless buoyed by the news that nautical exports to the UAE totalled nearly $120 million in the first 11 months of 2023.  More than 20 Italian companies attended the event at Dubai Harbour, part of a strengthening Italy-UAE trade […]

The value of polished diamonds traded in the UAE grew 32 percent year on year to $16.9 billion

Dubai’s diamond trade grows 2% to $38bn in 2023

Dubai’s trade in rough and polished diamonds rose 2 percent year on year to $38 billion, making the emirate one of the world’s largest trading centres for the precious gems. The free zone registered a five-year compound annual growth rate of 11 percent, Dubai Media Office reported, citing a statement from the Dubai Multi-Commodities Centre […]

Uzbekistan's retail sector is moving away from traditional markets and towards retail chains

Cenomi’s Uzbekistan debut a sign of Saudi trade ambitions

Saudi retail major Cenomi has announced its debut in Uzbekistan in tandem with the kingdom’s efforts to expand bilateral trade with the Central Asian nation. Uzbekistan is Cenomi’s 11th-largest international market, and it has signed a deal to open eight international brands – including a flagship Zara store – at the newly developed Tashkent City […]

Tengku Zafrul Abdul Aziz, Malaysia’s minister of investment, trade and industry, said the two countries are close to finalising the deal

Digital economy focus of UAE-Malaysia trade talks

The UAE is expected to sign a free trade deal with Malaysia by the end of June as the latter courts more investment to develop its digital economy. Talks on establishing a comprehensive economic partnership agreement (Cepa) began last year and Tengku Zafrul Abdul Aziz, Malaysia’s minister of investment, trade and industry, said the two […]

The proposed initiative for an industrial zone on the Mediterranean coast aims to position Egypt as a manufacturing and export hub for Chinese products

Egypt and China in talks to set up industrial zone

Egyptian and Chinese officials have engaged in further discussions about setting up a Chinese industrial zone along the Mediterranean Sea, according to a local news report. Egypt’s Minister of Trade and Industry, Ahmed Samir, and Zhang Tao, the acting Chinese Ambassador to Cairo, discussed the progress made since last month’s meeting with Samir’s Chinese counterpart, […]

China Eastern Airlines will operate three flights a week from Shanghai to Riyadh

Direct Shanghai flights reinforce Saudi air links scheme

China Eastern Airlines is to launch direct flights to Riyadh as part of the Saudi Air Connectivity Program (ACP) and the ‘Air Silk Road’ initiative to improve trade and tourism links between the two countries. Commencing on April 8, 2024, the three weekly flights will operate directly from Shanghai Pudong Airport and Riyadh’s King Khalid […]

The new deal is intended to improve UK-Saudi collaboration in sectors such as space tech and life sciences

Tech deal aims to improve UK-Saudi trade engagement

The UK and Saudi Arabia signed an agreement on Monday aimed at elevating science and technology links and trade growth opportunities. Officials said the deal will pave the way for the UK and Saudi Arabia to work together on deep science and technology breakthroughs that underpin progress in tackling challenges such as food security and […]

Egypt’s food exports to Europe reached 1.4m tonnes in 2022-23

Egyptian food producer plans European expansion

An Egyptian food producer is planning to expand into European markets on the back of a significant rise in US sales. City Farm, a frozen fruits and vegetables processor, intends to open representative offices in Germany, Belgium and the Netherlands first. CEO Mahmoud Lamei said the plan followed “remarkable success” in the United States and […]

Abdul Aziz Al Ghurair Dubai Chambers Video length: 04:40

UAE companies ‘can do more’ with Brics

UAE businesses need to do more to take advantage of the UAE joining Brics and signing free trade agreements with various countries, according to the chairman of Dubai Chambers. “Other countries are aware, but our business community needs to take advantage of what they can do with India, Indonesia, Turkey and other countries,” Abdul Aziz […]

Brazil exports many of the foods served at Iftar, the meal eaten after sunset during Ramadan

Brazilian exports to Kuwait rise in readiness for Ramadan

With Ramadan around the corner, trade between Kuwait and Brazil has been brisk – the Latin American country plays an important role in supplying the food needed for Iftar, the fast-breaking evening meal that Muslims enjoy during the holy month. Brazilian exports to the Gulf country spiked in November as Muslim importers began to prepare […]

FAB CEO Hana Al Rostamani, pictured here at Cop28 in December, said the bank looks forward to 'facilitating vital trade and investment' between the GCC and China

First Abu Dhabi makes China expansion a priority

First Abu Dhabi, the UAE’s largest bank by assets, plans to triple revenue from its operations in China by 2026. FAB is the only fully licensed UAE-based bank in mainland China and considers growth in the country a “priority” after revenue rose by 50 percent last year to about AED100 million ($27 million).  Group CEO […]

WTO director general Ngozi Okonjo-Iweala said Iraq and Lebanon both want to resume talks and the organisation will 'try to go as fast as possible'

Iraq and Lebanon face long wait to join WTO

Iraq and Lebanon have indicated a desire to resume talks aimed at joining the World Trade Organization (WTO), but history suggests the two could be in for a long wait. To join the WTO, a government has to bring its economic and trade policies into line with the organisation’s rules and principles and negotiate with […]

'International partnerships are crucial,' says Anne-Marie Mountifield, chair of The Solent Cluster

UK’s Solent Cluster courts Gulf for green investment

The Solent Cluster, a network of 114 companies with interests on the English south coast, is considering working with Gulf companies to deliver $15 billion of green investment.  The group is prioritising decarbonisation and among its proposals are a sustainable aviation fuel (SAF) plant for which Dubai’s national carrier Emirates and other airlines could become […]

FILE PHOTO: United Arab Emirates Minister of State for Foreign Trade Thani Al Zeyoudi gestures during an interview with Reuters in Dubai, United Arab Emirates, June 30, 2022. REUTERS/Abdel Hadi Ramahi/File Photo

UAE and Kenya complete Cepa negotiations

The UAE and Kenya have completed negotiations on a comprehensive economic partnership agreement (Cepa) between the two countries. It is the 12th Cepa deal secured by the UAE and its third in Africa, after agreements were signed last year with Mauritius and the Republic of the Congo (Congo-Brazzaville). “The UAE-Kenya Cepa will not only boost […]