The Economist confirmed that the UAE’s tendency in recent months to give priority in its trade policies to concluding trade and investment agreements with various countries of the world will reflect positively in the long run on the UAE’s aspirations to be a global center for trade and investment, as it will give it the impetus it needs to achieve this ambition.
The “Economist Intelligence” unit of the British economic magazine issued a report on the UAE’s foreign trade relations.
The report indicated that the UAE’s giving importance to trade and investment agreements with the largest possible number of countries in the world will also reflect positively on the diversity of the structure of the country’s trade and exports, which will enhance this diversity.
The report added that the remarkable activity on the part of the UAE during the recent period with regard to concluding bilateral trade and investment agreements, will provide much-needed support for its economic diversification plan, which it has been adopting and has been implementing for several years.
The UAE recently announced 50 economic initiatives that include the conclusion of comprehensive partnership agreements to enhance trade and investment relations with 8 countries representing all over the world, most notably the United Kingdom and India.
The report stated that this trend on the part of the UAE shows the extent of its interest in diversifying its sources of imports as well as developing potential markets for its exports.
The report concluded by talking about its positive long-term expectations for the UAE economy by benefiting from its tendency to intensify its trade partnerships with the rest of the world, but it also noted the existence of increasing regional competition.
Follow the economic statement via Google News