Saudi imports from UAE drop 23% in a year Saudi imports from the UAE fell by 23 percent year-on-year in April, with analysts citing last year’s changes to the customs rules as the main reason for the drop. Imports into the kingdom from the six GCC countries, which also includes Oman, Bahrain, Kuwait and Qatar, rose seven percent year-on-year to 6.55 billion riyals ($1.75 […] June 30, 2022
Dubai to open 50 commercial offices around the world Dubai is planning to open 50 commercial representative offices around the world as part of its goal to transform the emirate into a truly global trading hub and double its economy in the next five years. The new Dubai Global initiative, launched yesterday, aims to help Dubai-based companies scale up globally and provide them with […] June 29, 2022
Agriculture Scotland eyes big export boost from UK-Gulf trade talks Scottish businesses in key export sectors such as food, financial services and renewables have high hopes for a free trade deal with the GCC June 27, 2022
Exclusive UK-GCC talks must extend beyond tariffs, say top diplomats The newly-commenced free trade agreement talks between the UK and the GCC have been welcomed by senior diplomats. Lord Udny-Lister, co-chair of the UAE-UK Business Council and a former strategic advisor to British Prime Minister Boris Johnson, hailed the FTA discussions as “great news”, but called for a wide and nuanced set of agreements that […] June 24, 2022
Analysis From chocolate to solar power, the UK-GCC trade deal is a winner A trade deal between the United Kingdom and the Gulf region has the potential to support jobs “from Dover to Doha”, while building vital green industries and supplying innovative services to the GCC. That’s according to UK Trade Secretary Anne-Marie Trevelyan, who today launched free trade negotiations with the Gulf Cooperation Council, made up of […] June 22, 2022
Saudi Arabia’s Crown Prince lands in Egypt for two-day state visit Egyptian President Abdel-Fattah El-Sisi received Saudi Arabia’s Crown Prince Mohammed bin Salman at Cairo International Airport on Monday night, UAE state news agency WAM reported, citing a statement by Egyptian presidential spokesman Bassam Rady. El-Sisi and Bin Salman, who is on an official two-day visit to Egypt, will discuss bilateral relations and ways of enhancing […] June 21, 2022
Analysis Trade commissioner: UK and GCC have endless opportunities The Gulf states and the UK have historically enjoyed strong diplomatic and trade ties, but this decades-long alliance has intensified in the last two years. As UK businesses look to drum up new trade in the wake of Brexit and the coronavirus pandemic, the Gulf looks set to become ever closer to Britain. Pre-Brexit, around […] June 20, 2022
UAE sends ministerial delegation to Morocco to boost trade The United Arab Emirates’ minister of economy, Abdulla bin Touq Al Marri, will today lead a high level delegation to Morocco to discuss ways to boost bilateral investment between the two Arab countries. “The visit aims to promote cooperation between the business communities of the two countries and motivate the private sector and entrepreneurs to […] June 9, 2022
Israel and UAE ink bumper trade deal Israel and the United Arab Emirates will sign a free trade agreement in Dubai on Tuesday in a move aimed at boosting trade between the two countries, Israel's Economy Ministry said on Monday May 30, 2022
Analysis Qatar promise may trigger deluge of Gulf investments in UK More Gulf sovereign wealth funds could make huge investments in the United Kingdom following a £10 billion commitment from Qatar. On Tuesday the UK and Qatar signed a new Strategic Investment Partnership which will see the emir state invest billions over the next five years in key sectors of the UK economy including fintech, zero […] May 26, 2022
Analysis Stars and strife: rebuilding UAE-US relations The passing of UAE President Sheikh Khalifa has prompted an outpouring of condolences and support from around the globe, with heads of state being hurriedly dispatched to Abu Dhabi. Particularly notable among these was the high-profile delegation sent by the US; headed by Vice-President Kamala Harris, it included nearly all of the administration’s top national […] May 19, 2022
Russian oil dilemma may kickstart EU-GCC trade deal A new partnership adopted today between the European Commission and the Gulf Cooperation Council (GCC) could kickstart stalled talks on a free trade agreement. The High Representative and the European Commission said in a joint communication that the strategic partnership would focus on areas such as energy security, climate change and the green transition, digitalisation, […] May 18, 2022
Finance UAE, Pakistan in push for stronger trade ties Leaders of the UAE and Pakistan have reaffirmed earlier commitments made by the two countries to boost bilateral trade. Pakistan imports from the UAE stood at £5.9 billion in 2021, according to the United Nations’ Comtrade database on international trade, but there is currently no formal free trade agreement between the two countries. A free […] May 3, 2022
