UAE and Morocco form taskforce to double trade by 2030 The UAE and Morocco are aiming to double bilateral trade and investment volumes over the next seven years. The two countries are forming a taskforce to build on their AED3.6 billion ($991 million) non-oil foreign trade last year, which was up 16 percent from 2021 and more than two-thirds higher than 2020. The UAE is […] May 10, 2023
Analysis GCC and Japan move into fast lane for trade growth When Abu Dhabi announced the launch of the world’s largest autonomous racing league last month, it was with a significant nod to trade with Japan. Aspire, an arm of the emirate’s Advanced Technology Research Council, unveiled plans to host the first autonomous car race next year, featuring the Dallara-built Super Formula cars exclusively provided by […] April 13, 2023
EXCLUSIVE Economy Brazil steps up efforts to engage UAE in free trade talks Brazil is keen to progress free trade negotiations with the UAE, a business leader has said, and working hard to “reduce resistance” from the country’s petrochemicals sector. Osmar Chohfi, president of the Arab Brazilian Chamber of Commerce, told AGBI that current resistances revolve around “some sensibilities by the Brazilian petrochemical industry fearing unfair competition” but […] March 30, 2023
Trade Bahrain, Egypt, Jordan and UAE sign $2bn of industrial deals Businesses from the UAE, Egypt, Jordan and Bahrain have signed industrial deals valued at more than $2 billion at a government-backed gathering in Amman. The meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development, held on Sunday, brought together CEOs and the industry ministers of the four countries. Twelve agreements were […] February 27, 2023
Analysis Southeast Asian investors flocking to Gulf to deploy capital A growing number of businesses from the Association of Southeast Asian Nations (Asean) are investing and expected to set up operations in the GCC to capitalise on deepening trade links. Freddie Neve, senior Middle East associate at UK-based think tank Asia House, said that rapidly expanding ties between the Gulf and emerging economies in Asia […] February 22, 2023
Analysis Logistics Fujairah’s ship is coming in – and bringing tourists as well as trade Fujairah’s position on the Gulf of Oman coast has become its defining characteristic. The location has helped the emirate build a thriving maritime sector and given the rest of the UAE an alternative to the Strait of Hormuz. The Port of Fujairah opened in the early 1980s and successive development projects have added berths and […] February 8, 2023
Analysis Tech and startups will drive future UAE and India trade growth Growing opportunities in manufacturing, agtech, food processing, healthtech and fintech will support future growth in bilateral trade between the UAE and India. While petroleum products and jewellery remain the most exported goods from India to Dubai as trade is set to touch $88 billion for the current fiscal year, the relationship is changing, with officials […] January 25, 2023
Analysis UK seeks North Africa trade boost after Cairo deal The British export credit agency has signed a deal with Egyptian engineering and construction company Hassan Allam Holding to increase cooperation on projects across the Middle East and North Africa. The agreement, signed at the British embassy in Cairo, aims to secure inward investment into the UK and promote cooperation on financing projects and encourage […] January 24, 2023
Analysis Korea prospects high as President Yoon courts GCC free trade deal Negotiations are continuing on a free trade deal with GCC countries which will make “enormous contributions” to expanding relations, South Korea’s President Yoon Suk Yeol has said. “I hope that the Korea-GCC FTA will become a forward-looking agreement that contributes to our two countries’ joint endeavours of responding to new challenges including climate change, supply […] January 24, 2023
Analysis Economic success for Menap hinges on greater regional trade Many countries in the Middle East, North Africa, Afghanistan and Pakistan (Menap) region are enjoying growth, but new research has found that intra-regional exports account for only 2.9 percent of total gross domestic product. This compares to a global average of 7.9 percent, and 22 percent across the European Union (EU), Norway, Switzerland and the […] January 24, 2023
Opinion Next New Zealand PM must prioritise trade with Middle East New Zealand businesses in the region hope Jacinda Ardern's successor will focus on Middle East trade relations January 20, 2023
Analysis Lattes and logistics drive growth in UAE-Canada trade Tim Hortons coffee shops are the most visible symbol of the trade relationship between the UAE and Canada. The chain has just opened its 250th café in the Gulf – in City Centre Mirdif, Dubai – halfway to its target of 500 outlets in the region. “This milestone is representative of the UAE’s position as […] January 18, 2023
Opinion Economy Maharashtra looks to Mena for investment and partnerships The Indian state is pledging to become a $1 trillion economy – and strengthening relationships with the Middle East is at the forefront of these plans January 12, 2023
Analysis Indian exports to GCC boom ahead of free trade talks Indian exports to the GCC are booming, with nearly $30 billion of business in the first seven months of the fiscal year – and analysts are predicting more growth as talks resume on a free trade deal. The GCC is already India’s largest trading partner bloc, with bilateral trade valued at over $154 billion in […] January 11, 2023
Lister: Next 12 months are crucial for UK and UAE trade relations The UK can use the UAE as a “springboard” for global trade, says Lord Udny-Lister, co-chair of the UAE-UK Business Council. A third round of negotiations for a free trade agreement between the UK and GCC is set to take place in the Saudi capital Riyadh early next year, following talks in London three weeks […] December 26, 2022
Opinion Sustainability Green for go as UK and UAE count down to Cop28 The environment will be a key theme as the UK and UAE look to commercialise innovations in sustainability December 26, 2022
What I learned Finance Gulf business insights from 2022 and what to expect in 2023 In the context of the Ukraine war, the energy crisis, rising inflation and supply chain issues, the past year was certainly one of challenges and lessons for companies. Here, a selection of AGBI columnists and Gulf entrepreneurs reveal their business insights from 2022 and what they are looking forward to in the year ahead. Chris […] December 25, 2022
Opinion A positive outlook for Middle East trade and investment in 2023 Over the next year the Middle East will continue to be a beneficiary of inward investment from companies looking for stability in energy costs and availability December 22, 2022
Analysis UAE and UK commit to data bridge to boost $18bn trade links The UK and UAE are making “significant progress” towards building a robust data bridge which experts believe will create further opportunities to develop bilateral trade. The UK government and Dubai International Financial Centre (DIFC) said in a joint statement that they will work together to realise “the benefits of the important role that the trustworthy […] December 22, 2022
Analysis ‘Primed for growth’: UAE and Indonesia cement trade ties When Kaesang Pangarep, the son of President Joko Widodo of Indonesia, married this month, the guests included Sheikh Khaled Bin Mohamed Al Nahyan, chairman of the Abu Dhabi Executive Office, representing the UAE’s president, his father Sheikh Mohamed. The invitation highlighted the growing relationship between the UAE and Indonesia, just weeks after the two countries […] December 19, 2022
Analysis New Dubai plan to support overseas expansion a ‘win-win’ A new initiative to support the expansion of Dubai-based businesses into international markets has been described by experts as a “win-win situation”. Dubai Chambers has launched In Focus, which aims to drive its members’ interest in selected regions as potential destinations for their global expansion plans. At the same time, it has launched new representative […] December 12, 2022
Analysis UAE-Israel trade could reach $4bn after countries ratify deal Bilateral trade between the UAE and Israel could touch $4 billion next year after both governments ratified their comprehensive economic partnership agreement (Cepa) on Sunday. That’s the view of Dorian Barak, co-founder of the UAE-Israel Business Council, who told AGBI that the deal “builds on the unprecedented interest among Emiratis and Israelis in taking this […] December 12, 2022
