UAE: Re-exports can fast-track Emirates’ economic ambitions

UAE: Re-exports can fast-track Emirates’ economic ambitions

On March 28 this year, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced that the Cabinet had approved the National Agenda for Re-Export Development 2030. The policy seeks to double re-exports from the UAE over the next seven years – and deliver a 50 per cent increase in the added value of the UAE economy. This will, Sheikh Mhammed added, be achieved through 24 new initiatives and programmes that are designed to strengthen and deepen re-export markets, expand product categories for re-export and streamline processes to attract more re-exports to the UAE. The benefits to the national economy as a result of the policy will be significant, exponentially increasing both direct and indirect contributions to GDP and consolidating the UAE’s status as a supply-chain nerve center and global trade hub. Expanding re-exports is key to delivering on the leadership’s mission to accelerate economic diversification and unlock new areas of competitive advantage. In short, re-exports can help rewrite the UAE’s future. In an exclusive interview with Khaleej Times, Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, outlines the UAE’s plans to double the country’s re-exports – and