Friday, May 27, 2022 – 2:39 pm
Muhammad Saif Al-Suwaidi: The historical rise in total non-oil exports in the first quarter confirms the efficiency and strength of the national economy.
ABU DHABI, May 27, WAM / The Abu Dhabi Export Office of the Abu Dhabi Fund for Development confirmed that the non-oil foreign trade of the United Arab Emirates increased during the first quarter of the current year 2022 to about 500 billion dirhams, achieving a growth of 20.5%, and for the first time in the history of the country, it reached nearly Half a trillion dirhams is a pioneering achievement for the UAE and puts its national economy at an advanced stage on the global trade map.
His Excellency Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Chairman of the Executive Committee of the Abu Dhabi Export Office (ADEX), said that the UAE, under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him”, has succeeded in establishing its position as a global economic center and an ideal environment for trade. And the industry, due to its advanced infrastructure components. He explained that the rise in total non-oil exports to 218.5 billion dirhams by the end of the first quarter of this year, with a growth of 19.1%, confirms the efficiency and strength of the national economy in a way that supports the sustainable development process for the next fifty years.
He added that this exceptional achievement embodies the wise leadership’s interest in supporting the trade and industry sectors, as they are the most important drivers supporting the growth of the national economy, and basic pillars for diversifying income and achieving comprehensive development, noting that the Abu Dhabi Exports Office is keen to support the national economy and enhance the UAE’s economic leadership and leadership on the regional and global levels.
For his part, Khalil Fadel Al Mansouri, Acting Director General of the Abu Dhabi Exports Office, said that this historic achievement is an indication of the success of the forward-looking vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him”, in building solid foundations that contributed to the growth and prosperity of the sectors of the future economy. He stressed that His Highness’ vision has strengthened the resilience and resilience of the national economy and contributed to enhancing the economic diversification of the UAE, and consolidating its leading position among the most competitive economies at the regional and global levels.
He pointed out that the increase in the value of non-oil exports during the comparison period to 88 billion dirhams, compared to 75 billion dirhams in the same period last year, a growth of 17.4%, proves the success of the strategic plans pursued by the UAE government and confirms the recovery of the national economy from the repercussions of the pandemic. Covid-19″, and his return to his usual activity.”
The Abu Dhabi Export Office – ADEX supports the Abu Dhabi Economic Vision 2030 and the UAE Centennial 2071 by providing financing solutions to enhance the capacity of Emirati companies and enable them to expand the scope of their business and commercial activities, thus contributing to the competitiveness of national exports and their access to global markets, and promoting the growth of The national economy and diversification of its sources.
“ADEX” provides financing and guarantees to the foreign importer to purchase goods and services from an Emirati source according to appropriate terms and competitive advantages, and works to harness the promising potentials and opportunities that enable national companies to exist and compete in global markets.. It provides safe ways to protect the interests of Emirati companies from potential risks. Resulting from delay in payment or non-payment by paying all dues on behalf of the external buyer directly to the national exporting companies, upon completion of the successful delivery of the export transaction in accordance with the approved terms.
WAM/ Ahmed Al Nuaimi/ Assem Al Khouli