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Showing posts from December, 2022

INTERNATIONAL TRADE-UAE MARKET

UAE has been the top U.S. export market in the MEA region for the last 12 years and is a global hub for over 1,500 American companies doing business throughout the Middle East, Africa, Europe, and Asia.    At the same year, Crude Petroleum was the 1st most exported product in United Arab Emirates.  The UAE GDP for 2020 was $359 billion. This reflects the rich natural resources in the UAE, which has 10 percent of the total world supply of oil reserves and the world's fifth largest natural gas reserves. As a mainstay to the economy, oil exports now account for about 30 percent of total UAE gross domestic product Trade Negotiations and WTO Department, which is part of the UAE Ministry of Economy, is responsible for Dealing with all WTO affairs and free trade agreements, including ongoing negotiations,Supervising the implementation of the UAE's commitments under WTO agreements, as well as international and regional trade agreements to which the UAE is a party (in co-ordinatio...