Its Xavier Blog

 In a significant step toward bolstering economic ties between Jordan and the United Arab Emirates, the Amman Chamber of Commerce (ACC) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) have signed a comprehensive cooperation agreement. This strategic partnership aims to enhance collaboration in trade, services, and investment, reflecting the shared commitment of both nations to economic growth and mutual prosperity. Expanding Trade and Investment Opportunities The agreement, signed by ACC Chairman Khalil Hajj Tawfiq and ADCCI Chairman Ahmed Jassim Za’abi, is designed to foster joint economic initiatives that benefit the commercial sectors of both nations. The key objectives include: Information Sharing: Establishing channels for exchanging information on trade regulations, investment opportunities, and market dynamics. Boosting Private Sector Collaboration: Encouraging businesses to explore joint ventures and investment opportunities to strengthen the economic partnersh...

The UAE and China celebrate 40 years of diplomatic relations in 2024. This milestone anniversary reflects a renewed commitment to further strengthen the enduring partnership and comprehensive relationship between the two countries. In an OpEd published in major Chinese media, the UAE Ambassador to China Hussain Al Hammadi highlighted key aspects of the UAE-China partnership. He said that these ties date back to thousands of years of the ancient Silk Road which laid the foundation for cultural and economic exchange between the regions. Establishing formal diplomatic ties in 1984 set the countries on a path of collaboration across multiple areas.In 1990, Sheikh Zayed bin Sultan Al Nahyan, founder of the United Arab Emirates, made an important inaugural visit to China, the first GCC head of state to do so. It helped strengthen strong ties between leaders and establish a framework for cooperation. Over the past four decades, more than 130 bilateral agreements have been signed, with 19 new ...

The trade volume between Russia and the United Arab Emirates is projected to surpass $10 billion annually by 2024. According to Sergey Gorkov of the Russia-UAE Business Council, this would more than double current trade levels. At a recent economic forum, Gorkov said numerous Russian companies have expanded into key UAE sectors like IT, pharma, manufacturing, energy and petrochemicals. Bilateral political and economic ties have deepened in recent years across many industries. In 2021 Russian exports to the UAE totaled around $4 billion, including wheat, fertilizers and machinery. Major UAE imports from Russia include petrochemicals and construction materials. Hitting $10 billion in trade within two years would signify the growing strength of the economic relationship. It shows how cooperation is broadening across high value industries. Both governments and businesses will need to jointly pursue closer supply chain and market relationships. Russia and the UAE will become each other'...

The United Arab Emirates has long served as a pivotal trade partner for the United States. Since 2009, the Emirates have ranked as America's top export market in the Middle East, importing over $31.4 billion worth of goods in 2023 alone. This mutually-beneficial economic relationship supports close to 145,000 jobs across all 50 states through direct exports as well as indirect employment. States along the East Coast have particularly capitalized on opportunities afforded by trade corridors linking businesses to the vital Middle Eastern markets. New York, New Jersey, and Connecticut have emerged as leaders in leveraging commercial connections to the dynamic UAE economy. New York exports over $3 billion annually to the UAE, sustaining some 20,000 jobs locally in industries like finance, technology, and manufacturing. These exports are facilitated by major ports like NY-NJ that handle a significant portion of U.S.-UAE maritime trade. Further north, thousands of jobs in Connecticut dir...

The United Arab Emirates (UAE) has been pursuing Comprehensive Economic Partnership Agreement (CEPA) deals with a number of countries, including China, India, and South Korea. These agreements are aimed at boosting trade growth in non-oil sectors, opening up new markets and opportunities for businesses, and accelerating the country's economic diversification. In addition, the UAE has launched the D33 economic agenda, a strategic roadmap that aims to transform the economy by promoting innovation, entrepreneurship, and digitalization. The CEPA agreements have been a game-changer for the UAE, giving it a competitive edge in the global trade landscape. The deals provide businesses with a predictable and transparent environment in which to operate, reducing trade barriers and opening up new opportunities for investment. For example, the agreement with China has helped boost trade between the two countries to a record high, with the UAE now China's largest trading partner in the Mi...

    According to    Israel's Ambassador to the UAE Amir Hayek stated in a tweet.    Trade in goods (excluding software) between Israel and the UAE reached a new record in 2022 and stands at $2.56 billion compared to $1.22 billion in 2021  Since 2020 UAE and Israel have been working to strengthen their business ties even since both countries signed the Abraham Accord   UAE-Israel Financial Dialogue brings together the ministries of finance and central banks, as we believe it is important to keep an open dialogue between both countries to discuss issues that impact our financial systems and potential areas of bilateral and regional cooperation  Earlier this month, the UAE held its first financial dialogue meeting with Israel in a bid to boost cooperation ties and encourage innovation between the two countries Furthermore recently signed comprehensive economic partnership Agreement between the UAE and Israel will further solidify the ...