UAE Strengthens Global Trade Position Amid Service Sector Boom

The UAE, guided by strategic leadership, maintains its leading global trade status, particularly in the Middle East and Africa. Key drivers include open economy policies and strategic trade agreements. Despite global trade challenges, the UAE projects strong growth, notably in digital services and key sectors like finance and hospitality.

Abu Dhabi [UAE], April 20 – In a testament to its strategic foresight, the United Arab Emirates is consolidating its status as a keystone in global trade, with its latest achievements outlined in the recent World Trade Organisation (WTO) report, "World Trade Outlook and Statistics." Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, reiterated this in an address to the Emirates News Agency (WAM), proudly noting the nation's persistent leadership in trade arenas since 2014, especially across the Middle East and Africa.

Al Zeyoudi attributes the UAE's upward trade trajectory to an open economy, inviting investment and nurturing a regulatory-friendly climate bolstered by Comprehensive Economic Partnership Agreements (CEPA). This has underpinned its expansive international trade network. He highlighted the instrumental role played by both semi-governmental and private sector entities in elevating the UAE's trade stature on the global stage.

The WTO report underscores that the UAE continues to enjoy substantive growth in foreign trade, predicting a 25 percent surge in the opening month of 2025. Additionally, the UAE emerged as a top exporter of digital services in 2024, mirroring its emphasis on developing the digital economy, including booming sectors like finance, hospitality, and transportation. Even as global goods trade is set for a slight contraction, service trade booms, reinforcing the UAE's growth strategy that aligns with global shifts towards a service-dominated economy.

(With inputs from agencies.)