UAE Starts New Foreign Trade Ministry as Non-Oil Trade Grows Fast
The UAE has created a new Ministry of Foreign Trade and named Dr. Thani Al Zeyoudi as its minister. The news was shared on Friday by UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum on X. This move shows the UAE’s strong focus on growing its global trade and reducing its reliance on oil.
UAE’s Non-Oil Trade Grows Strongly
The UAE has seen a big rise in non-oil trade. In the first three months of 2025, non-oil foreign trade grew by 18.6% compared to the same time last year, reaching $227 billion (AED 835 billion). This growth is much higher than the global average of 2–3%.
Non-oil exports increased by 40.7% to $48.3 billion (AED 177.3 billion), while re-exports went up by 6% to $51.5 billion (AED 189.1 billion). Imports rose 17.2% to $127.6 billion (AED 468.6 billion), though they dropped slightly (1.7%) compared to the previous quarter.
This growth and the creation of a new ministry show the UAE’s efforts to become a global center for trade and logistics, and to rely less on oil.
Big Trade Target
The UAE had planned to reach $1.1 trillion (AED 4 trillion) in non-oil trade by 2031. But now, it hopes to hit that target in just two years—much earlier than expected.
Trade Agreements
In 2025, the UAE is working harder to sign more Comprehensive Economic Partnership Agreements (CEPAs). These deals are part of the country’s plan to strengthen trade ties, support sustainable growth, attract investment, and boost trade in goods, services, and re-exports.
The CEPA program is helping the UAE become a key trade hub for non-oil products and services. Since it started in 2021, the UAE has signed 24 CEPA deals with countries and groups representing about 2.5 billion people. These deals aim to reduce trade barriers and increase investment.
New Ministry Name
The Ministry of Economy will now be called the Ministry of Economy and Tourism, and it will be led by Abdullah bin Touq Al Marri, as announced by Sheikh Mohammed.
Economic Growth
In 2024, the UAE’s economy grew by 4%, reaching $481.9 billion (AED 1.77 trillion). The non-oil sector made up 75.5% of the economy, growing 5% to $365.4 billion (AED 1.342 trillion). Oil activities added $118.2 billion (AED 434 billion) to the total.
Published: 23th June 2025
For more article like this please follow our social media Facebook, Linkedin & Instagram
Also Read:
UAE Leads Global Energy Drive, Aims to Double Gains by 2030
ROSHN Begins ALDANAH Housing Project Phase 1 in Dhahran
GCC Central Banks Hold Rates in Line with US Fed Policy
