The United Arab Emirates continues to strengthen its standing as a global trade hub, according to Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. This was reaffirmed by the latest World Trade Organisation (WTO) report titled “World Trade Outlook and Statistics”.

Al Zeyoudi noted that since 2014, the UAE has consistently ranked among the world’s leading trade centres and remains the top performer in the Middle East and Africa for trade in goods and services. Services now account for around 20 per cent of the country’s total foreign trade. This is reported by Emirates News Agency (WAM), a partner of TV BRICS.

He attributed this growth to the UAE’s open economy, investor-friendly environment, adaptable regulatory framework, and its Comprehensive Economic Partnership Agreements (CEPA) programme, which has expanded the nation’s trade network across global markets.

He also emphasised the vital contributions of semi-governmental institutions and the private sector in supporting the UAE’s international trade activity.

Preliminary data for January 2025 suggests a 25 per cent year-on-year increase in foreign trade volume. Additionally, the UAE ranked among the top global exporters of digital services in 2024, with strong performance in sectors such as finance, hospitality, information technology, and transport – each recording growth between 9 and 14 per cent.

The WTO report forecasts a slight contraction in global goods trade of 0.2 per cent in 2025 under current tariff conditions, with a moderate recovery of 2.5 per cent expected in 2026. Meanwhile, global services trade is projected to grow by 4.0 per cent in 2025 and 4.1 per cent in 2026.

African Times published this article in partnership with International Media Network TV BRICS