– 28% growth in non-oil trade exchange between the UAE and France during 2021.
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From / Ahmed Al Nuaimi.
ABU DHABI, 18th July, WAM / The continuous growth rates of trade exchanges between the UAE and France reflect the strength of the economic partnership relations and a translation of the historical ties that unite the two friendly countries and enjoy the care and support of the leaderships of the two countries for the good of their peoples and achieving their common goals for sustainable development.
The visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him”, to the Republic of France confirms the strength of the comprehensive strategic partnership between the two friendly countries and pushes it to broader horizons in a way that enhances the paths of second cooperation in various fields and sectors, serves their current and future development goals and achieves more achievements.
During the past ten years from “2012-2021”, the volume of non-oil trade exchange between the UAE and France grew by 8%, after it rose from 23.2 billion dirhams in 2012 to more than 25.2 billion dirhams by the end of 2021, according to the data of the Federal Competitiveness and Statistics Center that It showed a growth in trade exchange between the two countries during the past year of 28% compared to 2020, during which it amounted to about 19.7 billion dirhams.
The volume of non-oil trade exchange between the UAE and France during the past decade amounted to more than 256.15 billion dirhams, weighing 8.28 million tons, distributed to non-oil exports of the UAE to the Republic of France, with more than 5.16 billion dirhams, weighing 957.83 thousand tons, and re-exports with more than 22 billion dirhams, weighing 198.22 thousand. tons, while the value of the country’s imports from France amounted to 228.9 billion dirhams, weighing 7.12 million tons.
Ornaments, jewelry and their parts came in first place among the 5 most important goods imported from France during 2021, with a value of 2.46 billion dirhams, followed by hand-made paintings and pictures with 2.33 billion dirhams, followed by perfumes and cosmetic water with a value of 1.73 billion dirhams, followed by jet, propelling and gas turbines with a value of 1.37 billion dirhams. Medicines and medical drugs at 1.3 billion dirhams.
The most important 5 commodities exported to France during 2021 included large bottles and commodity preservation bottles with a value of 94.3 million dirhams, followed by hardware components with 55.9 million dirhams, followed by raw wood with 45.4 million dirhams, followed by cigarettes and tobacco with 29.5 million dirhams, followed by pumps and lifters for liquids with a value of 26.3 million dirhams.
The list of the top 5 goods that were re-exported to France during the year 2021 included hardware components with a value of 705.8 million dirhams, followed by jewelry and their parts with 265.8 million dirhams, followed by tourist cars and personal transport vehicles with a value of 141.7 million dirhams, followed by perfumes and cosmetic water with more than 125 million dirhams, followed by planes and helicopters. Helicopters, satellite components and spaceships, with a value of more than 121 million dirhams.
In a related context, the UAE-French Strategic Dialogue Committee held the fourteenth meeting in Abu Dhabi in June of this year 2022, embodying the distinguished partnership between the two countries and in compliance with the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him” and His Excellency Emmanuel Macron, President of the French Republic.
In line with the ambitious roadmap for the next ten years of the UAE-France Strategic Partnership 2020-2030, which was approved in June 2020, the two sides are working to enhance second cooperation in key sectors such as economy, trade, investment, oil and gas, carbon-neutral hydrogen, nuclear and renewable energy, climate change, education, culture, health and artificial intelligence. Food security, financial technology, intellectual property rights, countering money laundering and terrorist financing, space, as well as cyber security.
The two countries are committed to enhancing investment and trade opportunities in sectors of mutual interest within the framework of a package of huge economic agreements previously signed during President Emmanuel Macron’s visit to the UAE in December 2021, whose total value exceeded 15 billion euros.
The two sides stressed the importance of the “One Planet” sovereign wealth fund initiative, which will be hosted by the UAE in October 2022, in addition to organizing the UAE-French energy event, which will start on the seventh and eighth of November 2022.