Total direct and indirect economic impact of re-exports estimated at AED 48 billion: Thani Al Zeyoudi

Total direct and indirect economic impact of re-exports estimated at AED 48 billion: Thani Al Zeyoudi

ABU DHABI, 5th July, 2023 (WAM) -- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stated that the UAE continues to benefit from the forward-looking vision of its wise leadership regarding expanding the network of the country's trading partners, which was accompanied by a number of measures aimed at strengthening the foreign trade sector.

In March 28th, he said, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced that the UAE Cabinet approved the national agenda for re-export development 2030, which includes 24 initiatives and programmes, aiming to achieving 50 percent increase in the added value of the UAE economy through re-exports by 2030.

Al Zeyoudi told the Emirates News Agency (WAM) that the re-export sector is a vital sector for the country's economy, as the UAE is one of the largest re-export centers in the world.

In 2022, the total value of the UAE's foreign trade reached a record-breaking AED2.23 trillion, an increase of 17 percent over 2021. The share of re-exports totalled AED614.4 billion, or 27.5 percent of the total value, which reaffirms its importance to the country's economy and its position as a facilitator of global