Agriculture China and Arab states sign $471m worth of agri deals A total of 34 deals worth AED1.73 billion ($471 million) were signed at the China-Arab States Expo, promoting cooperation and development in the agricultural sector. Agriculture has become an important part of China-Arab cooperation, and trade in agricultural products has recorded steady growth, the UAE state-run Wam news agency reported, citing the China Economic Net […] September 25, 2023
Finance India-Middle East-Europe corridor to revive spice route Indian spices and spice products are likely to be the first commercial products to find their way through the new India-Middle East-Europe Economic Corridor (Imec), an Indian minister has said. Imec, announced last month at the G20 summit in New Delhi, India, aims to integrate railway routes and link ports along a route from India […] September 21, 2023
Analysis Trade UAE-Serbia talks begin in Dubai as trade speeds up “I want to have Dubai as a base for my business and innovation,” says Novak Djokovic. “I love the champion mentality.” The world tennis number one, arguably Serbia’s most famous son, describes the emirate as his “second home”. Emirati officials, who launched trade talks with the European country on Monday, will be hoping Djokovic’s compatriots […] September 20, 2023
Analysis Trade Dubai Chamber opens offices in France and Italy Dubai has opened new representative offices in Paris and Milan as part of the UAE’s ambitions to build trade and investment opportunities with the European Union. Dubai International Chamber made the move on the back of more than $53 billion of trade between the UAE and Europe last year, up $11 billion on 2021. The […] September 19, 2023
Finance UAE boosts trade ties with China’s Hainan province The UAE and China’s Hainan province have signed four major private sector agreements to boost bilateral trade and investment ties. The agreements include a memorandum of understanding between Ajlan & Bros Holding, Hainan Airlines Holding and Yangpu Economic Development Zone Management Committee and a cooperation framework agreement between Dubai Integrated Economic Zones and Hainan Airport […] September 18, 2023
Trade Northern Ireland keen to deepen trade ties with Gulf The recent Brexit deal for Northern Ireland places it in a strong position to deepen trade links with the Middle East and North Africa (Mena), especially in manufacturing and life sciences, according to the regional head of Invest Northern Ireland. The economic development agency aims to grow the number of Northern Irish businesses active in […] September 18, 2023
Video length: 06:36 VIDEO Trade Abraham Accords – 3 years on, $3 billion in trade An Israeli politician has described how the Abraham Accords, signed three years ago today, have “opened a floodgate to, hopefully, a new Middle East”. Fleur Hassan-Nahoum, deputy mayor of Jerusalem, tells AGBI in an exclusive video interview that the agreement signed at the White House on September 15 2020, is transforming Israel’s relations with the […] September 15, 2023
Analysis Trade Hong Kong thrives as GCC-China ‘super-connector’ As Hong Kong prepares to host the Belt and Road Summit this week, its focus is increasingly turning to the Gulf for trade and investment opportunities. The Chinese special administrative region has been strengthening its links with the Middle East since 2013, when the Belt and Road Initiative was launched. It now wants to attract […] September 12, 2023
Trade PIF to open Indian office as part of $100bn investment drive Saudi Arabia’s Public Investment Fund (PIF) is planning to set up an office in India’s Gujarat International Finance Tec-City (Gift City), as part of the kingdom’s plan to invest $100 billion in the world’s fifth largest economy. Gift City is a special economic zone located in Gandhinagar in the Indian state of Gujarat, offering various […] September 12, 2023
Opinion Trade Meanwhile, on the G20 sidelines, history in the making The proposed India-Middle East-Europe Economic Corridor could become a 'green and digital bridge across continents and civilisations' September 11, 2023
Banking & Finance Mubadala’s Beijing office to deepen UAE-China ties Mubadala Investment Company, the second-biggest state fund in Abu Dhabi, has officially opened an office in Beijing. The move marks a significant development in the growing economic relations between the UAE and the world’s second largest economy. The sovereign fund entered China a few years ago but had to delay its office opening ceremony due […] September 8, 2023
Finance UAE exports to Egypt given $100m financing boost The UAE’s exports to Egypt are set to increase after the two Arab countries signed a revolving loan facility of $100 million. Abu Dhabi Exports Office (Adex), the export-financing arm of the Abu Dhabi Fund for Development, has signed a financing agreement with the National Bank of Egypt to reinforce bilateral trade and economic relations. […] September 7, 2023
Trade UAE and Brazil boost non-oil trade with partnership The UAE and Brazil have launched a partnership to exchange economic expertise and build on non-oil bilateral trade of $4.3 billion in 2022. The initiative is part the UAE’s Government Experience Exchange Programme that welcomed a Brazilian delegation to the Emirates earlier this week. Abdullah bin Touq Al Marri, the UAE’s minister of economy, said […] September 6, 2023
Finance Pakistan reveals Saudi investment of $25 billion Saudi Arabia will invest up to $25 billion over two years in Pakistan, according to a statement from Pakistan’s caretaker prime minister Anwaar-ul-Haq Kakar. The announcement was made to journalists at Mr Kakar’s residence in Islamabad, citing mining, agriculture and information technology as the main sectors to benefit. There was no Saudi statement about the […] September 5, 2023
Trade Italian companies urged to make Saudi their ‘second home’ Saudi Arabia has invited top Italian companies to make the kingdom their “second home” as both countries aim to boost investment and trade levels. The Italian-Saudi Investment Forum, which brought together policy makers, business leaders and innovators, witnessed the signing of 21 memoranda of understanding (MoUs) and investment agreements. They covered sectors including clean energy, […] September 5, 2023
Analysis Trade UAE and New Zealand plan Cepa to build non-oil trade When Auckland-based startup Exsurgo joined the Hub71 technology park in Abu Dhabi it was a potential sign of things to come in the UAE-New Zealand trade relationship. Exsurgo has raised $10.5 million and aims to provide non-pharmaceutical treatments for neurological conditions through the use of neuroscience and data analytics. Last week, two months after Exsurgo’s […] September 5, 2023
Trade Turkish deals help UAE hit non-oil foreign trade record Bilateral trade between the UAE and Turkey recorded one of the highest growth rates in the first half of 2023, rising 87.4 percent annually. The massive growth helped the UAE’s non-oil foreign trade reach a record high of AED1.239 trillion ($337.33 billion) in H1 2023, an increase of 14.4 percent year on year, the Ministry […] August 31, 2023
Trade Qatar kicks back after post-World Cup slump There has been a rise in international companies considering a move to Qatar following a post-World Cup slump. Experts believe the spike in interest is partly due to the UAE’s decision to introduce corporate tax as well as an update to Qatar’s Single Window system, which was launched in 2019 to help companies set up […] August 31, 2023
Analysis Trade Saudi minister Al Falih heads to Milan for trade talks Saudi Arabian and Italian officials are to meet in Milan next week for talks on investment opportunities in clean energy, healthcare, manufacturing and hospitality. The Ministry of Investment of Saudi Arabia will co-host the Italian-Saudi Investment Forum on September 4, as the countries seek to build on bilateral trade that surpassed $11 billion last year. […] August 30, 2023
Trade Middle East moves closer to China with comms deal China’s Guodong Network Communication Group has raised $150 million from a Middle Eastern sovereign wealth fund in a further sign of strengthening relations between Beijing and the region. The proceeds will support the expansion of Guodong’s communication base stations, Reuters reported, citing a statement from Guodong’s deputy general manager Ji Xiaoling. The statement did not […] August 29, 2023
Trade New Saudi bid to turn around sliding non-oil trade Saudi Arabian non-oil trade exports, which have declined in the wake of oil production cuts, could get a boost via a credit insurance deal agreed this week with an affiliate of petrochemicals company National Industrialization Co (Tasnee). The initiative, provided by the Saudi Export-Import Bank (Saudi EXIM Bank) through Evonik Tasnee Marketing, protects against the […] August 25, 2023
Analysis Trade New Middle East members expand Brics reach Four Middle East countries are to join the Brics bloc of developing countries, bridging regional political divides and signaling increased Chinese influence around the world. The new memberships of Saudi Arabia, Iran, the United Arab Emirates and Egypt, as well as those of Argentina and Ethiopia, will be effective from 2024. The decision to add […] August 24, 2023
