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Sustainable Development Goals

 Foreign Trade Sector

Annual Investment Meeting (AIM)

Since 2011, the Ministry of Economy has been holding the annual investment meeting (AIM), a leading global platform aims for facilitating the strategic communications and promoting investments.

AIM is considered as the largest gathering of corporate leaders, policy makers, business men, regional and international investors, successful entrepreneurs, prominent academics and financial experts, showcasing the latest information and strategies on attracting FDI.

Holding AIM reflects the UAE’s vision and approach to fulfill the sustainable development requirements by the following :

  • Re-exploring resources and diversifying income sources in optimal way.
  • Sharing investment opportunities among different countries.
  • Connecting businessmen and investors with investment opportunities and potential partnerships in different promising markets, which constitutes one of the main factors to face the different challenges and global economic changes.

The 8th session of AIM, held in April 2018 focused on the theme: “Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth & Sustainable Development”.

On 8th of April ,2018.the Ministry of Economy held a workshop in the margins of titled “the role of chambers of commerce in achieving SDGs” in collaboration with the International Chamber of Commerce. The workshop addressed the actions that can be taken by chambers of commerce to promote dialogue between private and public sectors, stimulate partnerships and alliances and explore innovative business solutions to accelerate the sustainable development and how the private sector can work with governments to achieve the overall sustainable development.

AIM is also an important global platform to discuss global investment trends, access opportunities and face challenges. The 9th session, held in April 2019 focused on “Mapping the Future of FDI: Enriching World Economies through Digital Globalization”, with a view to shedding light on how to access large development opportunities in digital economy, especially in the light of the several accelerated changes on global economy. In 2017, the UAE jumped 5 places to 30th rank globally on FDI attractiveness, compared to 2016 (35th rank globally), as well as it jumped 3 places during 2019 to 24th rank globally on FDI attractiveness, compared to 2018 (27th rank globally), The UAE was ranked 24 th in the world and ranked first in the Arab and Western Asia region in 2019. Although FDI flows to Western Asia declined by 7%, the value of inward FDI to the UAE increased during 2019 by 32% compared to the period of 2018 according to UNCTAD's ranking.

 

National Export Development Committee

Recognizing the vital importance of continuous work towards increasing the export capacities of the UAE to achieve the goals of the UAE Strategy for the Overall, Necessity of Balanced and Sustainable Development, to strengthen its position globally and enhance its participation in the world economic system, and in the light of various and diversified investment capacities of the UAE economy.The role of the national initiative “for non-oil export development” has been launched in 2015 by the MOE in association with other participants in the UAE ,aims to contribute in the followings :

  • Reducing the non-oil trade deficit through developing the currently available export capacities of the export structure of the UAE. marked by sustainable growth, balance in geography and commodity and competitive at regional and international leve.
  • Increasing the foreign trade contribution to GDP, which in turn supports the economy growth, enables UAE exports to access new and emerging markets, resulting in other several benefits for all economic sectors, especially industrial, logistic, transportation and warehousing sectors,which at the end enhances UAE position in world commercial system and as an international trade and re-export hub.

The UAE is the world's leading regional commodity trade leader, the third largest in the world, and the first in the Arab world, and it is one of the top 20 exporters globally and the top 20 importers in the world.

During 2019, non-oil commodity foreign trade contributed to 147% of GDP, non-oil foreign trade grew by nearly 5% and non-oil exports by more than 13%, and re-exports by 7%.



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