UAE Greenlights 24 National Initiatives To Double Re-Exports By 2030

The United Arab Emirates approved 24 national initiatives to double its re-exports by 2030 after Vice-President and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum greenlighted the projects during a cabinet meeting at Qasr Al Watan in Abu Dhabi.

The national agenda for re-export development 2030 aims at achieving a 50 percent increase in the added value of the UAE economy by boosting its re-exports over the next seven years. Sheikh Mohammed said the initiatives would bolster the country's re-export industry by 100 percent and benefit 50 commercial offices across five continents.

"We will double the country's re-export by developing specialized areas in cooperation with local governments, establishing the International Trade Links Center, launching supportive programs and increasing foreign investments in the service sector," he said.

During the meeting, the Cabinet also reviewed trade agreements and assessed some of the country's recent feats in the commercial industry. They went over several initiatives aimed at making the UAE the global capital of talent.

"In our meeting, we also reviewed more than 19 initiatives to make the country the capital of global talent. The UAE is second in the world in the index of senior specialized managers. Our goal is to transfer the best expertise and refine our national cadres to be global in thinking," Sheikh Mohammed wrote in a tweet following the meeting.

Economic partnership deals were signed during the meeting along with discussions on the results of the work carried out by the Supreme Committee for Free Trade Negotiations. "We signed comprehensive economic partnership agreements with 4 countries, and we are currently negotiating with many other countries, and we are beginning to see the impact of the agreements on the country's foreign trade figures," the Dubai Ruler wrote on the social media platform.

"2023 will be the strongest economic year for the country in its history, God willing," he added.

In a subsequent tweet, Sheikh Mohammed said the Cabinet agreed to host the World Conference of the International Union for Conservation of the Environment in 2025, which is expected to draw 10,000 environmental experts around the world. "The UAE's economic march will remain a sustainable one," he added.