Analysis Economy Saudi and China sign 34 deals on first day of President Xi’s visit Saudi and Chinese companies signed 34 investment agreements on Wednesday as President Xi Jinping started his visit to the kingdom. The agreements further bolstered trade between the countries which last year exceeded Riyadh’s with the US and Europe combined for the first time. Bilateral trade between Saudi Arabia and China totalled SAR304 billion ($81 billion) in […] December 8, 2022
Analysis Xi Jinping visits Saudi as GCC looks east on trade When President Xi Jinping of China arrives in Saudi Arabia on Wednesday, it is likely to add further momentum to a flourishing relationship with the GCC that surpassed trade with the US and Europe combined last year. Three summits are planned during the three-day visit with over 20 agreements worth more than $29.3 billion expected […] December 7, 2022
Agriculture Egypt to restart export of agri products to Philippines Egypt will start exporting agricultural products to the Philippines after five years of negotiations, Reuters reported, citing the Egyptian Ministry of Agriculture statement. The first shipment of Egyptian citrus is expected to be exported during the current season. Egyptian agriculture exports from January 1 to August 24, 2022, reached around 4.49 million tons, Egypt Today […] December 4, 2022
Analysis World Cup 2022 Saudi and Mexico get back to business after World Cup exit The deepening relationship between Saudi Arabia and Mexico may have been tested for 90 minutes on Wednesday as the central American team prevailed 2-0 in their World Cup match in Qatar. Both teams went out of the tournament due to results elsewhere in their group, but, more importantly, the two countries are enjoying a bounce […] December 1, 2022
Analysis Abu Dhabi’s ADIO signs up Israeli fintechs as bilateral trade rises Two Israeli companies have joined Abu Dhabi Investment Office’s $545 million Innovation Programme, with industry watchers predicting that many more will follow as ties strengthen between the country and the UAE. ADIO is working with fintech company Liquidity Group to establish an R&D centre in Abu Dhabi. The facility will develop Liquidity’s proprietary underwriting algorithm […] November 16, 2022
Estonia’s exports to UAE double after Expo 2020 Dubai Estonia’s participation in Expo 2020 Dubai helped the European country’s exports of goods and services to the UAE increase by more than 100 percent in the past year. The value of Estonian goods exported to the UAE was up 126 percent year-on-year to €80.8 million ($80.57 million) in the eight months from January to August […] October 31, 2022
Analysis GCC and South Korea kick off fresh round of trade talks The sixth round of trade talks between the GCC and South Korea has started in Seoul. The negotiations began on Monday and are scheduled to run until Friday. The two sides resumed talks on a free trade agreement earlier this year, following a 13-year hiatus. The agenda for the sixth round includes goods and services, […] October 25, 2022
Trade UK drinks firms raise glass to Morocco and Tunisia trade deal British drinks companies have raised a glass after the UK removed trade barriers that deterred alcohol sales to Morocco and Tunisia. The changes in the countries, which extends to Argentina and Angola as well, will help the UK’s products to reach millions of new potential customers and boost alcohol exports, which reached £6.5 billion last […] October 17, 2022
Analysis Oil to outer space: the changing face of UAE-Japan trade When the Emirates lunar mission is launched next month, the trade relationship between the UAE and Japan will be taken to a whole new level – approximately 384,400km higher. The Rashid rover will be transported to the moon on a lunar lander made by Japanese company ispace. The exact date has yet to be confirmed, […] October 11, 2022
Analysis UAE and Germany grow ever closer with shared net zero goals The first four Mercedes Benz cars arrived in Abu Dhabi in 1965, imported by the Al Fahims, who founded Emirates Motor Company three years earlier. Last year, the UAE imported German automobiles worth nearly $1.2 billion. Also in the mid Sixties, the German company Siebert discovered enough water close to Al Ain to enable the […] September 30, 2022
Analysis India reaps early benefits from its trade deal with UAE India’s non-oil exports to the UAE have recorded double-digit growth since the two nations signed a trade deal earlier this year. New Delhi’s Ministry of Commerce reported that exports to the UAE, excluding petroleum products, grew to $5.92 billion in June-August, from $5.17 billion during June-August 2021 – an increase of 14 percent. India’s global […] September 27, 2022
Tech startup aims to spice up India’s agriculture trade with GCC Indian startup Ninjacart has launched Ninja Global, a new digital platform for agricultural export-import businesses in the UAE and other countries in the Gulf. Ninjacart operates in over 150 markets across agri-commodities, was valued at almost $1bn this year, and is backed by retail giant Walmart and India’s Tiger Global among others. Its Ninja Global is […] September 26, 2022
Analysis Biden Middle East UAE reforms seen as magnet for further US investment A series of new economic and social reforms, known as the Projects of the 50, will make the UAE an even more attractive environment for American businesses. According to Danny E Sebright, president of the US-UAE Business Council, the UAE is already widely recognised by American businesses for these strengths. “Another important strength of the […] September 26, 2022
Analysis New UK foreign secretary Cleverly to bolster Gulf ties New UK foreign secretary James Cleverly’s experience and knowledge of the Gulf region should help pave the way for a stronger start to relations between economies, according to industry professionals. Cleverly was given his new role by Britain’s new prime minister Liz Truss, who appointed many of her closest allies to key roles in her […] September 9, 2022
Analysis Kenya general election ‘could delay’ trade deal with UAE The UAE and Kenya are launching talks to form a free trade agreement to boost bilateral economic ties. But political uncertainty in the east African country could hamper efforts to collaborate on shared priorities such as oil, gas, technology and ports, experts say. The two countries signed a joint statement on July 28 pledging to […] August 9, 2022
Biden Middle East US special envoy for Yemen travels to the Middle East The US special envoy for Yemen will visit Saudi and Jordan this week, as part of diplomatic efforts in support of the United Nations-mediated truce in Yemen. The US State Department reported on Monday. Tim Lenderking’s “engagements will focus on expanding, extending, and renewing the current truce agreement that will further the tangible benefits already […] July 26, 2022
Analysis Biden Middle East Biden’s ‘Jerusalem Declaration’ could slash UAE-Iran trade The US and Israel pledged today to deny Iran nuclear weapons – a move that could dissuade global trade partners from dealing with Tehran, experts have said. The freshly united stance from US president Joe Biden and Israeli prime minister Yair Lapid represents a rare show of unity by allies long divided over Iran diplomacy. The […] July 14, 2022
Analysis UK minister reaffirms Gulf ties amid PM resignation turmoil July 7 will be remembered as the day British prime minister Boris Johnson resigned his post following a cabinet revolt and the departure of dozens of ministers. But on the same day, Amanda Milling MP, the UK government’s minister for Asia and the Middle East, completed a largely unreported trip to the Gulf region, visiting […] July 11, 2022
Opinion Johnson’s exit will not impede deepening UK-Gulf relations New political leadership will make little difference upon the trade deal with both markets set to benefit July 8, 2022
Analysis Biden Middle East US-Saudi trade relationship in rude health The US-Saudi trade relationship rebounded from the pandemic lows of 2020 to posting record high exchanges of non-oil and non-defence goods last year as vehicles and vaccines boosted American imports into the kingdom. According to data from the US-Saudi Business Council, total trade volume amounted to SR92.5 billion ($24.7 billion) during 2021, rising 22 percent […] July 8, 2022
UK PM resignation unlikely to affect Gulf trade talks Boris Johnson said on Thursday he was resigning as Britain’s prime minister, bowing to calls from ministers in his Conservative Party. “The process of choosing that new leader should begin now,” Johnson said at the door of Number 10 Downing Street. “And today I have appointed a cabinet to serve, as I will, until a […] July 7, 2022
UK Morocco trade envoy resigns amid Johnson leadership crisis Boris Johnson, the British prime minister, is set to resign today following a swathe of party resignations. Among those to submit their resignation was Dr Andrew Murrison, trade envoy to Morocco, who submitted a strongly-worded letter yesterday saying that Johnson’s position had become “unrecoverable” over his handling of the row over disgraced deputy chief whip Chris […] July 6, 2022
