UAE Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, revealed that the UAE's non-oil foreign trade in 2021 increased by 27 percent to 1.9 trillion dirhams (517 billion dollars).
He explained that "The volume of recorded exports exceeds 2019 (pre-pandemic) levels by 11%, as our start after the decline in the impact of the Corona pandemic was strong, and our economic growth is upward. Also, our move away from dependence on oil reaches the stage of sustainability."
The UAE is seeking to double or triple the volume of its trade with Turkey, taking advantage of its logistical relations with the rest of the world. This is the latest sign of the warmth of relations between the two countries. In 2021, the UAE announced plans to deepen its trade relations in the fast-growing economies of Asia and Africa, attracting $150 billion in foreign investment.
Last November, the UAE also laid out plans to launch a $10 billion fund to support investments in Turkey.
Source (Anadolu Agency, Edited)
