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The volume of non-oil trade between the UAE and the Gulf States exceeded 281 billion dirhams during 2022, with a growth of 14% compared to 2021, and by 23% compared to 2019.
Abdullah bin Touq Al-Marri, Minister of Economy, met Jassim Muhammad Al-Budaiwi, Secretary-General of the Cooperation Council for the Arab States of the Gulf, at the headquarters of the Ministry of Economy in Dubai, to discuss ways to enhance the efforts of the Gulf Cooperation Council countries at the economic and development levels, and to exchange experiences in priority sectors.
The Minister of Economy stressed that the UAE is keen to support the bonds of joint Gulf cooperation, and to enhance the process of transforming the Gulf economies towards new sectors, as it is an urgent priority to achieve the goals of sustainable development, in order to ensure the achievement of prosperity and sustainable prosperity for the Gulf peoples.
He said, “We look forward to creating more effective paths to achieve Gulf economic integration, supporting new business models, including start-ups and family businesses, and providing all the necessary ingredients for the growth of their activities and maximizing their contribution to supporting the gross domestic product of the Gulf economies and creating sustainable job opportunities.”
For his part, Jassim Muhammad Al-Budaiwi, Secretary-General of the Cooperation Council for the Arab States of the Gulf, praised the great efforts made by the Ministry of Economy in supporting and strengthening the process of joint Gulf action to achieve more cooperation and integration among the GCC countries, in order to achieve the directives and visions of the leaders of the GCC countries.
Bin Touq, Secretary-General of the Gulf Cooperation Council, was briefed on the most prominent developments in the economic environment of the UAE, during the last period, in order to create an economic climate supportive of business growth and prosperity, and attract investments, in implementation of the forward-looking vision of the wise leadership in light of the fifty goals and the determinants of the UAE Centennial 2071. By allowing foreign ownership to reach 100%, issuing a system of legislation to protect intellectual property, and launching an ambitious strategy to attract talents and minds in all sectors, to enhance the country’s position as a permanent center for creativity and innovation.
