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Abu Dhabi [UAE], April 20 (ANI/WAM): Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stated that the United Arab Emirates, guided by the directives of its wise leadership, continues to lead and maintain its competitiveness on the global trade map. This was reaffirmed by the latest World Trade Organisation (WTO) report titled "World Trade Outlook and Statistics".
In statements to the Emirates News Agency (WAM), Al Zeyoudi highlighted that the UAE has consistently ranked among the top global trade hubs since 2014, holding the leading position in the Middle East and Africa for trade in goods and services, noting that trade in services accounts for 20 per cent of the UAE's total trade with the world. He attributed the significant growth in the UAE's foreign trade to the country's open economy, its ability to attract investors, flexible policies and regulations, and its Comprehensive Economic Partnership Agreements (CEPA) programme. These factors have helped forge a global trade network linking the UAE with international markets. He also underscored the pivotal role of semi-government entities and the private sector in boosting the country's global trade profile. Al Zeyoudi revealed that the UAE's foreign trade continues to achieve significant growth, with preliminary estimates indicating a 25 per cent increase in the first month of 2025. He added that the UAE ranked among the top global exporters of digital services in 2024, reflecting the ongoing development of this vital sector. Key service segments that recorded notable growth include finance, hospitality, information, and transport, with growth rates ranging between 9 and 14 per cent. According to the WTO report, global trade in goods is expected to contract by 0.2 per cent in 2025 under current tariff conditions, before rebounding modestly by 2.5 per cent in 2026. Meanwhile, global trade in services - although not directly subject to tariffs -- is projected to grow by 4.0 per cent in 2025 and 4.1 per cent in 2026. The report also noted that despite a 2.9 per cent increase in global goods trade and a 6.8 per cent rise in services trade in 2024, global GDP grew by 2.8 per cent. The total value of goods exports rose by 2 per cent to reach USD 24.43 trillion, while services grew by 9 per cent to USD 8.69 trillion. Services contributed 26.4 per cent of global trade in 2024, marking the highest share since 2005. (ANI/WAM)
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