The UAE Cabinet has approved initiatives aimed at doubling the level of national re-exports within seven years.
The approvals came during a meeting of the UAE Cabinet on Tuesday, March 28.
As well as looking to boost national re-exports the Cabinet reviewed trade agreements and recent commercial successes.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai said, “Today, I chaired the Cabinet meeting in Qasr Al Watan, Abu Dhabi, and we approved 24 national initiatives aiming at doubling the UAE’s re-export by 100 percent within the seven coming years, through benefiting from our 50 commercial offices around the world.
“We will double the country’s re-export by developing specialised areas in cooperation with local governments, establishing the International Trade Links Centre, launching supportive programmes and increasing foreign investments in the service sector.
The national agenda for re-export development 2030, includes 24 initiatives and programmes, aiming to achieving 50 percent increase in the added value of the UAE economy through re-exports by 2030, through benefiting from the 50 integrated commercial representative offices for the UAE in five continents across the world.
The agenda’s objectives include doubling the re-exports by 2030.
Sheikh Mohammed added: “The meeting reviewed more than 19 initiatives to attract talents to the country. The UAE ranked second globally in Competent Senior Managers indicator.
“Our goal is to attract the best talents in the world, as we continue to empower and enable our Emirati talents and national cadres.”
The cabinet also reviewed the results of the Higher Commission Free Trade Negotiations.
Sheikh Mohammed said: “We signed four international agreements with four countries. The positive impact of international agreements is reflected clearly on the numbers of the UAE’s foreign trade.”
During the meeting, the Cabinet reviewed the achievements of the Higher Commission Free Trade Negotiations during 2022, which included the four comprehensive economic partnership agreements (CEPA) signed between the United Arab Emirates, India, Israel, Indonesia and Turkey, in addition to negotiations on new comprehensive economic partnership agreements with various trading partners.