Trade Global trade will grow in 2025 despite tariff threats, says UAE By Pramod Kumar January 24, 2025, 11:09 AM Reuters/Brendan McDermid 'Trump is a businessman and he wants to ensure that deals are going to be done throughout the year,' said UAE’s minister of state for foreign trade Thani Al Zeyoudi Al Zeyoudi speaks at WEF Global trade momentum growing Business ‘adapting’ to disruptions Global trade is expected to grow in 2025 despite threats by US President Donald Trump to impose new import tariffs, UAE’s minister of state for foreign trade Thani Al Zeyoudi has said. The momentum in foreign trade and global trade is growing, he told Bloomberg Television at the World Economic Forum in Davos, Switzerland. “Trump is a businessman and he wants to ensure that deals are going to be done throughout the year,” Al Zeyoudi said. In September 2021, the UAE announced plans to attract $150 billion in foreign investment, following which it signed economic agreements with more than 20 countries. The latest comprehensive economic partnership agreements (Cepas) were signed this month with New Zealand, Malaysia and Kenya, Al Zeyoudi said. Business is “manoeuvring and adapting” despite global trade disruptions over the past four years, he said. In December 2024, the UAE central bank said that real GDP growth is expected to remain stable at 4 percent in 2024, accelerating to 4.5 percent and 5.5 percent in 2025 and 2026, respectively. UAE economic growth to accelerate in 2025 and 2026 UAE finalises trade deal with five-nation EAEU bloc UAE-Australia trade expected to triple after Cepa deal Growth expectations are underpinned by strong performances in key sectors such as tourism, transportation, financial and insurance services, construction, real estate and communication, the bank said. The Cepas that the UAE has signed with many countries have bolstered its trade partnerships, leading to non-oil trade exceeding AED1.3 trillion ($353.93 billion) in the first half of 2024, accounting for 134 percent of the country’s GDP.
