Ministry of Economy issues report on UAE Foreign Trade Developments

5/12/2016 7:39:12 AM

(MENAFN- Emirates News Agency (WAM))

ABU DHABI, 12th May, 2016 (WAM) -- The Ministry of Economy has issued a report on monitoring, following-up and analysis of the development of the UAE's Foreign Trade for the first quarter of 2016.

The report, which was prepared by the Trade Policy Department at the Ministry, includes a number of important themes that together constitute the components and key elements of the report, including global growth and its impact on the country's economy.

The report highlights international trade and investment policies, referring to a series of talks that concentrated on the global structure of trade and investment, especially in the light of recent trends in flows, and trade and investment policies around the world, including the rise in global value chains and the growing links between trade, investment, finance and the growing impact of non-tariff barriers, NTBs, to cross-border issues facing global trade.

The report addressed the most prominent developments in bilateral trade relations between the UAE and other countries, including outstanding economic partnership between the UAE and the United States and the trade relations with European Union Member States, as well as the multilateral trade relations with Australia and India, concluding this chapter with an outline on trade agreements signed between the UAE and other countries around the world.

The report reviews the new international trading system and its development over different time stages, and developments witnessed over the past decades up to the establishment of the World Trade Organisation, which embodies the latest stages of world trade evolution, and the latest mechanisms of its systems.

The Ministry of Economy's report talks about some of the economic events around the world, in addition to reviewing a number of recent reports on the global economy. The report concludes with a brief analysis of the UAE's economy and what is being achieved with regards to steady growth in order to achieve further progress and prosperity, despite some of the challenges that it has faced in recent times.

WAM/Hanaa/Moran

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