Latest news with #CEPA
Yemen Online
3 hours ago
- Business
- Yemen Online
UAE non-oil foreign trade exceeds Dh1.7 trillion in H1 2025: Sheikh Mohammed
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the UAE, under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has continued on its path to become a major trading nation, a reliable trading partner for the world's largest economies and a gateway to facilitate trade flows around the world. In a post on X, the UAE Vice President said, "Today, I reviewed our non-oil foreign trade data for the first half of 2025. In the first six months of this year, we achieved more than Dh1.7 trillion, with a record growth of 24% compared to the first half of 2024, which itself was an exceptional year for our national economy. We recorded double what we achieved in the first half of 2021 and continued the unprecedented boom in our trade with historic growth rates of 59.5 per cent and 37.8 per cent compared to the first half of 2022 and 2023, respectively.' "In September 2021, we launched the Comprehensive Economic Partnership Agreement (CEPA) programme to expand our network of trading partners around the world. Our non-oil foreign trade continues to reap the benefits of this program, under which we have concluded 28 agreements to date, 10 of which have entered into force. This means we can offer unhindered customs access to markets where nearly 3 billion consumers live," he added. Sheikh Mohammed praised the UAE's non-oil exports, which increased their contribution to total non-oil foreign trade to 21.4% for the first time in the country's history, compared to 18.4% in the first half of 2024. Record growth continues in the first half of 2025 The UAE's non-oil foreign trade for the period from January 1 to June 30 2025 showed the continuation of its upward trajectory, recording about Dh1.728 trillion (equivalent to $470.3 billion), with a growth of 24 per cent % year-on-year, compared to the first half of 2024, and growth on a semi-annual basis of 9.1 per cent compared to the second half of 2024. The UAE's non-oil foreign trade continued to achieve record and unprecedented growth rates, recording an increase of 37.8 per cent and 59.5 per cent in the first half of 2025 compared to the same period in 2023 and 2022 respectively. Trade output is double the figure achieved in the first half of 2021 and was more than double the figure recorded in the first half of 2019. The UAE's non-oil exports reached Dh369.5 billion during the first half of 2025, with a growth rate of more than 44.7 per cent — for the first time in the country's history — as well as a growth rate of 80 per cent when compared to the first half of 2023. This level is more than double the value of non-oil exports during 2022, more than double 2021's level and 3 times larger than in 2020 and 2019. Non-oil exports increased during the first half of 2025 at a record rate of 210.3 per cent compared to the same period in 2019. Non-oil exports were the best performers among the UAE's foreign trade during the first half of 2025, contributing 21.4 per cent of the UAE's total non-oil trade. This was higher than the contribution in the first half of 2024 and 2023, where it was 18.4 per cent and 16.4 per cent, respectively. The most important destinations for the UAE's non-oil exports during the first half of 2025 were Switzerland, followed by India second, Turkey third, and Hong Kong-China fourth. Thailand, Switzerland and India recorded the highest growth rates among the recipient markets for UAE exports. Among the top 10 recipients of the UAE's non-oil exports, CEPA partners amounted to Dh85.02 billion, with a growth of 62.8 per cent and a 23 per cent share of the UAE's non-oil exports. India received a value of Dh51.45 billion, a growth of 97.6 per cent compared to 2024 for the same period, followed by Turkey with a value of Dh27.2 billion and a growth of 24.1 per cent. Exports to these ten countries with which CEPAs came into force increased 3 times compared to the exports recorded in 2022 and 2021 and exceeded 4 times the exports in 2019. The value of re-exports also continued its upward trajectory, reaching Dh389 billion during the first half of 2025, with a growth of 14 per cent, 15.8 per cent and 25.4 per cent, compared to the same periods in 2024, 2023 and 2022. respectively. The re-exports of the top 10 partner nations recorded a growth of 16.5 per cent. Re-exports of the rest of the world recorded a growth of 12 pr cent compared with the first half of 2024. The UAE's imports of non-oil goods amounted to Dh969.3 billion during the first half of 2025, a growth rate of 22.5 per cent compared to the same period in 2024, while the UAE's imports from the top 10 trading partners increased by 20.8 per cent and with the rest of the world by 24.3 per cent.
Hans India
8 hours ago
- Business
- Hans India
7 Reasons to relocate an Indian company to the UAE
The United Arab Emirates has become the international hub for the foreign entrepreneurs and investors. Open corporate environment, complete foreign ownership, business-friendly laws, and minimal taxes are the major reasons for this drive. Therefore, you can relocate an Indian company to the UAE to make the most of the potential opportunities there. Indian firms have become the top foreign businesses operating in the UAE. The number of the annually new registering members of the Dubai Chamber of Commerce is the proof. Also, the data from the Dubai-India Business Forum is another indication. The foreign direct investment in Dubai by India surpassed $3 billion in 2024. India is turning out a top investor in business services, real estate, software, and Information Technology (IT). This surge has grown by bilateral agreements like the 2022 UAE-India Comprehensive Economic Partnership Agreement, which reduced trade barriers/tariffs. Indian companies' investment in Dubai has surged by 173% in the past decade, with over 70,000 active companies registered. Non-oil trade between the two markets reached US$190 billion between 2019 and 2023, with 23.7 per cent growth. This article is go-to guide for Indians to decide if the UAE is the best place to for business . or you need to think a bit more! Let's dive in to help you make an informative decision. Business collaboration between India and the UAE Trade collaboration between the UAE and India is developing across industries, with CEPA serving as a catalyst for future growth. ● The Comprehensive Economic Partnership Agreement (CEPA), signed on February 18, 2022, promotes India-UAE commerce by providing zero-duty advantages to 90% of Indian exports and 80% of trade categories. ● Gems, food production, jewelry, military, technology, pharmaceuticals, security education, infrastructure development, oil and gas, renewable energy, financial services and aviation are among the high-growth industries. ● The UAE is supporting India's energy transformation initiative, which aims to create 500 GW of renewable energy by 2030. 7 Motives for Indian corporate relocation to the UAE Or you can say why not!!! The UAE offers a low-tax framework, making it attractive for high-net-worth individuals and families. Dubai's business-friendly ecosystem, including free trade zones and innovation, attracts new ventures and established enterprises. Efficient registration processes as well as licenses in Dubai free zones offer full foreign ownership and attract global investment. Some of the most notable reasons to relocate Indian company to the UAE include these. Trade and logistics potential The UAE's global business and logistics center is largely due to its advanced transport infrastructure, including state-of-the-art airports and seaports like Dubai International Airport and Jebel Ali Port. The country's efficient road and rail network, including the Etihad Rail project, supports rapid goods movement across the country and beyond its borders. These advantages provide significant logistical benefits for foreign companies, reducing transit times and costs, and enhancing trade fluidity. Foreign direct investment initiative The UAE's economic vision is centered on foreign direct investment (FDI), with relaxed ownership restrictions and incentives within free zones. In 2018, the country further liberalized FDI regulations, making it more attractive to global investors. Incentives like long-term residency visas have attracted high-profile investments. Around 80% of Fortune 500 companies in the UAE operate in the country, leveraging its strategic location, infrastructure, and business-friendly policies. Tech and financial services firms are also expanding, with SMEs making up 95% of the enterprise landscape. Limitless opportunities for tech startups Dubai, home to over 30% of its startup community, is actively seeking to attract more tech talent from India. Dubai aims to attract more Indian tech talent by offering 100,000 Golden Visas and a national small-business program. The city's tax benefits, business-friendly environment, security, luxury living, accessible residency options, and strategic location make it a compelling destination for India's super-rich, offering lucrative opportunities, a luxurious lifestyle, and a secure future. Business-friendly economic structure The UAE has significantly diversified its economy, reducing its reliance on oil revenues and investing in key sectors like technology, finance, tourism, and real estate. This has created a dynamic, resilient economy, with nearly 80% of its GDP now coming from non-oil sectors. Tourism, a cornerstone of the economy, has rebounded post-pandemic, driving demand for services, real estate, and retail. The UAE's financial center and tech sector are attracting start-ups and industry leaders due to its vibrant business ecosystem, government-backed initiatives, and, trade fairs. Favorable tax policies The UAE offers a tax-free environment for expatriates and businesses, with exemptions from corporate taxes, customs duties, and VAT in Free Zones. With over 140 global treaties, it simplifies cross-border trade and investment, and offers a cost-effective base. Seamless regulatory framework The UAE provides a straightforward business environment with streamlined registration processes and a commitment to ease of doing business. Its free zones encourage foreign investment and have implemented reforms, making it a top destination for global companies. The Dubai Multi Commodities Centre (DMCC) free zone is popular for technology, blockchain, and commodities trading. Unmatchable quality of life The UAE ranks #21 in the UN's World Happiness Report and #12 safest place to live, ensuring expatriates' peace of mind. Healthcare is also a top priority. Moreover, Dubai and Abu Dhabi are known for their high quality of life, with well-developed urban amenities and diverse shopping centers. Process of relocating your Indian business to the UAE This is the step-by-step procedure of corporate relocation for Indians , to expand business operations in the UAE. ● Do proper market research ● Select your business activity ● Decide on a corporate structure ● Choose suitable legal jurisdiction ● Reserve company and trade name ● Get preliminary approval with NOC ● Acquiring a business license ● Obtain business license ● Create a bank account ● Adhere to the UAE's business rules The process of business relocation to the UAE for Indians finishes in 1 week with quick processing. Dubai is a worldwide trading hub, whereas Abu Dhabi is a low-cost manufacturing base. Emirates of Sharjah, Ajman, Fujairah, Ras Al Khaimah, and Umm Al Quwain are other options. Key takeaways Here are the notable insights of the business relations between India and the UAE. ● India has become the top foreign business operating in Dubai, with a record of registering as members of the Dubai Chamber of Commerce. ● The country's foreign direct investment in Dubai surpassed $3 billion in 2024, making it its top investor in business services, real estate, software, and IT. This surge was fueled by bilateral agreements like the 2022 UAE-India Comprehensive Economic Partnership Agreement, which reduced trade barriers and tariffs. ● Indian companies' investment in Dubai has surged by 173% in the past decade, with over 70,000 active companies registered. ● The UAE offers a low-tax framework, business-friendly ecosystem, and efficient registration processes, making it attractive for high-net-worth individuals and families. ● India and UAE are expected to reach a trade agreement worth $250 billion by 2030, with the FTA contributing $9 billion to UAE's GDP. ● The CEPA agreement will benefit around $26 billion of Indian products, job creation, business ease, and, increasing investment flows. ● India and the UAE are working towards a low-carbon future as the key energy trading partners.
Emirates 24/7
12 hours ago
- Business
- Emirates 24/7
Mohammed bin Rashid: UAE non-oil foreign trade exceeded AED1.7 trillion in H1 2025
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has continued on its path to become a major trading nation, a reliable trading partner for the world's largest economies and a gateway to facilitate trade flows around the world. In a tweet on the "X" platform, His Highness said, "Today, I reviewed our non-oil foreign trade data for the first half of 2025. In the first six months of this year, we achieved more than AED1.7 trillion, with a record growth of 24% compared to the first half of 2024, which itself was an exceptional year for our national economy. We recorded double what we achieved in the first half of 2021 and continued the unprecedented boom in our trade with historic growth rates of 59.5% and 37.8% compared to the first half of 2022 and 2023, respectively.' His Highness Sheikh Mohammed bin Rashid Al Maktoum added, 'In September 2021, we launched the Comprehensive Economic Partnership Agreement (CEPA) programme to expand our network of trading partners around the world. Our non-oil foreign trade continues to reap the benefits of this programme, under which we have concluded 28 agreements to date, 10 of which have entered into force. This means we can offer unhindered customs access to markets where nearly 3 billion consumers live.' His Highness Sheikh Mohammed bin Rashid Al Maktoum praised the UAE's non-oil exports, which increased their contribution to total non-oil foreign trade to 21.4% for the first time in the country's history, compared to 18.4% in the first half of 2024. The UAE's non-oil foreign trade for the period from January 1 to June 30 2025 showed the continuation of its upward trajectory, recording about AED1.728 trillion (equivalent to USD$470.3 billion), with a growth of 24% year-on-year, compared to the first half of 2024, and growth on a semi-annual basis of 9.1% compared to the second half of 2024. The UAE's non-oil foreign trade continued to achieve record and unprecedented growth rates, recording an increase of 37.8% and 59.5% in the first half of 2025 compared to the same period in 2023 and 2022 respectively. Trade output is double the figure achieved in the first half of 2021 and was more than double the figure recorded in the first half of 2019. The UAE's non-oil exports reached AED369.5 billion during the first half of 2025, with a growth rate of more than 44.7% – for the first time in the country's history –, as well as a growth rate of 80% when compared to the first half of 2023. This level is more than double the value of non-oil exports during 2022, more than double 2021's level and 3 times larger than in 2020 and 2019. Non-oil exports increased during the first half of 2025 at a record rate of 210.3% compared to the same period in 2019. Non-oil exports were the best performers among the UAE's foreign trade during the first half of 2025, contributing 21.4% of the UAE's total non-oil trade. This was higher than the contribution in the first half of 2024 and 2023, where it was 18.4% and 16.4%, respectively. The most important destinations for the UAE's non-oil exports during the first half of 2025 were Switzerland, followed by India second, Turkey third, and Hong Kong-China fourth. Thailand, Switzerland and India recorded the highest growth rates among the recipient markets for UAE exports. Among the top 10 recipients of the UAE's non-oil exports, CEPA partners amounted to AED85.02 billion, with a growth of 62.8% and a 23% share of the UAE's non-oil exports. India received a value of AED51.45 billion, a growth of 97.6% compared to 2024 for the same period, followed by Turkey with a value of AED27.2 billion and a growth of 24.1%. Exports to these ten countries with which CEPAs came into force increased 3 times compared to the exports recorded in 2022 and 2021 and exceeded 4 times the exports in 2019. The value of re-exports also continued its upward trajectory, reaching AED389 billion during the first half of 2025, with a growth of 14%, 15.8% and 25.4% compared to the same periods in 2024, 2023 and 2022. respectively. The re-exports of the top 10 partner nations recorded a growth of 16.5%. Re-exports of the rest of the world recorded a growth of 12% compared with the first half of 2024. The UAE's imports of non-oil goods amounted to AED969.3 billion during the first half of 2025, a growth rate of 22.5% compared to the same period in 2024, while the UAE's imports from the top 10 trading partners increased by 20.8% and with the rest of the world by 24.3%. The UAE's non-oil trade with the country's top 10 trading partners around the world continued its upward trajectory in the first half of 2025 with a growth of 25.5% and an increase of 23.6% with the rest of the countries. Trade with India increased by 33.9%, with China by 15.6%, with Switzerland by 120%, and with Saudi Arabia by 21.3% compared to the same period in 2024. Trade with Turkey also saw a 41.4% rise, while the UAE's non-oil trade with the United States of America witnessed a growth of 29% and ranked sixth among the country's top 10 trading partners around the world. France also entered the top 10 list in the first half of 2025.
Hi Dubai
14 hours ago
- Business
- Hi Dubai
UAE Non-Oil Foreign Trade Surges to AED1.7 trillion in H1 2025
The UAE's non-oil foreign trade reached AED1.728 trillion in the first half of 2025, marking a 24% increase compared to the same period in 2024, according to His Highness Sheikh Mohammed bin Rashid Al Maktoum. This performance builds on the country's upward trade trajectory, with total trade output now double that of H1 2021 and showing historic growth rates of 59.5% vs. 2022 and 37.8% vs. 2023. Non-oil exports reached AED369.5 billion, growing 44.7% year-on-year, and contributing 21.4% of total non-oil trade — the highest in the nation's history. CEPA agreements played a key role, with 10 out of 28 signed partnerships already in effect, granting access to markets home to nearly 3 billion consumers. Top export destinations included Switzerland, India, Turkey, and Hong Kong–China, with India receiving AED51.45 billion in exports, a 97.6% increase. Exports to CEPA partners reached AED85.02 billion, reflecting a 62.8% surge. Re-exports also rose by 14% to AED389 billion, and imports grew 22.5% to AED969.3 billion. Trade with key countries such as Switzerland (+120%), Turkey (+41.4%), and the United States (+29%) saw sharp increases, further positioning the UAE as a global trade gateway. Sheikh Mohammed praised the nation's progress and reaffirmed the UAE's status as a reliable trading hub and strategic economic partner on the world stage. News Source: Dubai Media Office
Sharjah 24
a day ago
- Business
- Sharjah 24
Mohammed bin Rashid: UAE non-oil trade at AED 1.7 tn in H1 2025
Historic growth on multiple fronts He highlighted that the current trade volumes are double those achieved in the first half of 2021 and represent growth of 37.8% and 59.5% over H1 2023 and 2022 respectively. Non‑oil exports reached AED 369.5 billion, accounting for 21.4% of total trade—the highest ratio ever recorded. CEPA agreements fueling trade expansion The launch of the Comprehensive Economic Partnership Agreement (CEPA) programme in September 2021 has significantly expanded the UAE's global trade partnerships. To date, the UAE has signed 28 CEPA agreements—10 of which are already in force—providing tariff-free market access to nearly three billion consumers worldwide. Key export destinations and rapid market growth Top export markets in H1 2025 included Switzerland, India, Turkey, and Hong Kong. Exports to CEPA partner countries totaled AED 85.02 billion—with notable growth of 97.6% to India and 24.1% to Turkey. Re-exports also rose to AED 389 billion, up 14% from the previous year. Imports and partner trade accelerate Imported non‑oil goods amounted to AED 969.3 billion—up 22.5% year-on-year. Trade with the UAE's top 10 partners surged by 25.5%, including notable increases of 33.9% with India, 120% with Switzerland, and growth with the US, Turkey, China, and France as well. His Highness underscored that this performance reflects the UAE's strategic vision under the leadership of President Sheikh
