Abu Dhabi: The Ministry of Foreign Trade is set to intensify efforts to explore new markets for UAE products in important commercial centres across Asia, Europe and South America over the coming three months. It also aims to highlight investment opportunities in the UAE and thereby attract more foreign capital into various economic sectors.
The ministry is also setting the stage for the UAE's participation in the China-Arab Countries Economic and Trade Forum, which is scheduled to be held in the Ning Xia Autonomous Region in China from September 26 to 30, and in the Global Connect international fair in Germany at the end of October, besides an international trade fair in Malaysia from November 9 to 11. Plans are also being made to organise promotional tours for commercial and investment delegations from the UAE to Romania and Armenia by early Nov-ember, and to a few Latin American countries in mid-December.
Strategic vision
Juma Al Kait, Executive Director of the Foreign Trade Affairs Department in the Ministry of Foreign Trade, said the ministry's initiatives are in line with the comprehensive strategic vision of the government to develop non-oil exports by finding global markets for products from the country and to increase their competitiveness, assisting national companies in forging partnerships and strategic alliances, and protecting national investments abroad.
Al Kait said the ministry is working to a carefully devised strategy to increase national non-oil exports in particular — which have grown by 32 per cent to Dh38 billion in the first half of this year — and, in general, to develop the UAE's foreign trade, which has grown 9 per cent to Dh352 billion in the first half of the year with re-exports rising 17 per cent to Dh83 billion.
The participation in fairs and expositions abroad and promotional tours are in accordance with the findings of indepth studies of markets that have proven to add value to the national economy.
Al Kait also touched on consultations underway between the ministry and relevant federal and local entities, besides various chambers of commerce and industry, the private sector, as well as a host of industries on the selection of countries and markets that had been identified for promotional tours.
Local companies were being given all necessary assistance to explore export opportunities by being encouraged to participate in foreign exhibitions and fairs, promotional tours and various economic and investment forums, he added.
The ultimate goal of the ministry was to introduce UAE manufacturers to foreign markets and provide them a platform to demonstrate their high quality and ability to consistently meet international standards, he said.
- 32% rise in non-oil exports in the first half of 2010
- Dh83b value of re-exports in the first half of this year
