On October 2-3, 2024, the UAE reaffirmed its commitment to strengthening trade relations with Asia at the Asian Cooperation Forum held in Doha. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted that Asia represents the largest regional trading bloc for the UAE, accounting for 59% of its non-oil trade and receiving 72.7% of its exports.
The forum served as a platform to enhance regional cooperation in trade, economic growth, and infrastructure development, while also coordinating efforts to address urgent global challenges such as food security and climate action. Al Zeyoudi noted a significant increase in non-oil trade value with Asia, reaching USD 224 billion in the first half of 2024, a 31% growth compared to previous years.
He emphasized the strategic importance of the UAE’s comprehensive economic partnership agreements, with 8 out of 13 agreements signed with Asian nations since May 2022. The minister stated that regional and international trade cooperation is increasingly vital amid the continuous growth of the global economy, particularly in Asia, which trades over 60% of manufactured goods.
Al Zeyoudi also held bilateral meetings with officials from several Asian countries, including Nepal, Thailand, Tajikistan, and Pakistan. He reiterated the UAE's commitment to leveraging advanced technologies to enhance the efficiency and resilience of global supply chains.
The Asian Cooperation Dialogue, established in 2002, aims to foster collaboration among Asian nations in various fields, including trade, technology, and sustainable development.