The UAE ranked 10th in the world in the list of countries expected to achieve significant growth rates in its foreign trade, in addition to the growth rates achieved during the past decade, in the index issued by the research and studies unit of the "Standard Chartered" global banking, covering 20 countries around the world topped by Ivory Coast, followed by India, Kenya, China and Ireland.
The UAE has ranked ahead of the world's leading trade centers such as Hong Kong, Singapore, Switzerland, Turkey and others. The UAE is leading the Middle East's efforts to shift from dependence on oil exports to a more diversified and sustainable trade base, the report said.
The UAE ranks seventh globally on the Trade Readiness Standard, which measures the readiness of countries to have the foundations necessary to boost the growth of their trade in the future, it also ranked 12th globally in the export diversification component.
The report showed that the UAE's active role in the Belt and Road Initiative as a key link between Africa and Europe has helped in forming its position among the most open countries to international trade.
Source (Al-Khaleej newspaper, Edited)
