UAE seeks to boost non-oil exports to Dh800b by 2031: Al Marri

UAE seeks to boost non-oil exports to Dh800b by 2031: Al Marri

Abdulla bin Touq Al Marri

Published: Wed 22 May 2024, 5:37 PM Last updated: Wed 22 May 2024, 5:38 PM

The UAE targets to increase its non-oil exports to Dh800 billion and boost the value of non-oil foreign trade to Dh4.0 trillion by the next decade, Abdulla bin Touq Al Marri, Minister of Economy, said on Wednesday.

The UAE has achieved outstanding successes on regional and international levels, solidifying its standing as the region's leading hub for trade and investment. “With an emphasis on emerging industries and SMEs, we will continue to broaden and diversify our economy according to the ‘We the UAE 2031’ vision,” said Al Marri.

The minister, also chairman of Etihad Credit Insurance Board of Directors, said ECI has significantly contributed to advancing this national vision by fostering the expansion of domestic trade and enterprises and facilitating crucial economic relations through comprehensive economic partnership agreements (Cepas). “The company’s innovative credit solutions and strategic collaborations have enhanced the competitiveness of UAE businesses worldwide. This will help diversify the UAE’s economic landscape and propel its non-oil exports forward.”

ECI, the federal export credit company of the UAE, recorded a gross exposure of Dh9.6 billion by the end of 2023, a 21-fold jump compared to