Media ININ Economy We Trust
Media In – Abu Dhabi – 24 September
A statistical report by the Federal Customs Authority revealed the growth of the total volume of non-oil trade between the UAE and Saudi Arabia by 1230% since the formation of the Gulf Customs Union in 2003 until the end of the first half of 2018. The report said that the total volume of non-oil trade between the two countries (direct trade, free zones and customs warehouses) reached 720 billion dirhams (196 billion dollars) during the mentioned period. To AED 79.2 billion in 2017 and AED 38.4 billion in the first half of this year. The total imports from the Kingdom of Saudi Arabia during the period amounted to 244.2 billion dirhams (67 billion dollars), while UAE exports to the Kingdom reached 144.8 billion dirhams (39.7 billion dollars). The value of re-exports was about 330.9 Billion dirhams ($ 90.6 billion). “The Kingdom of Saudi Arabia is a strategic trading partner for the UAE,” said Ali Bin Sabih Al Kaabi, President of the Federal Customs Authority. “While the UAE is a major commercial gateway to the Kingdom, Saudi Arabia has maintained its position as the UAE’s first commercial partner. As well as being one of the most important trading partners of the state in the Arab world and the Middle East. Ali al-Kaabi stressed the keenness of the Federal Customs Authority and the local customs services to enhance relations of cooperation and partnership with the Kingdom of Saudi Arabia, remove all obstacles to intra-trade and improve the level of customs cooperation.
