ID :
142187
Wed, 09/15/2010 - 15:56
Auther :
Shortlink :
https://oananews.org//node/142187
The shortlink copeid
Global economic recovery reports are encouraging, UAE Foreign Trade Ministry
Abu Dhabi, Sept 15, 2010 (WAM)- The announcements from World Trade Organisation (WTO) indicating a 25 percent growth in international trade during the first half of 2010 in comparison with the same period last year, is encouraging Ministry of Foreign Trade said yesterday.
Juma Mohammad Al Kait, the Executive Director of Foreign Trade Affairs at the Ministry, said that these positive indicators confirm the ongoing recovery and upward slope being witnessed in international trade since the first quarter of this year, adding that reports have revealed that the ASEAN region has achieved positive growth averages in foreign trade of up to 35 percent during the second quarter of the current year.
Al Kait affirmed that these positive indicators have been reflected in the UAE's non-oil trade as the ASEAN states are the country's main trade partners, pointing out that foreign trade indicators have registered a high growth rate of 9 percent (Dirhams 28 Billion) during the first half of the year in comparison with the same period last year, with exports growing by 32 percent (Dirham 9.2 Billion) and re-exports by 17 percent (Dirhams 12 Billion), further highlighting the effectiveness and benefits of the adopted open economic policy in ensuring strong ties between the national and global economy.
He added that the World Trade Organisation's announcement attributed the 35 percent increase in exports from Africa and the Middle East during the first half of this year to the increased demand for commodities in Asia and the United States of America and the increase in their prices.
The WTO announcement stated that the Commonwealth States achieved high growth rates in exports - 44 percent increase - thus boosting growth in the volume of international trade. Additionally, the WTO added that foreign trade between EU member states and the rest of the world was more than trade within the EU, even though the latter also witnessed an increase. – Emirates News Agency, WAM
Juma Mohammad Al Kait, the Executive Director of Foreign Trade Affairs at the Ministry, said that these positive indicators confirm the ongoing recovery and upward slope being witnessed in international trade since the first quarter of this year, adding that reports have revealed that the ASEAN region has achieved positive growth averages in foreign trade of up to 35 percent during the second quarter of the current year.
Al Kait affirmed that these positive indicators have been reflected in the UAE's non-oil trade as the ASEAN states are the country's main trade partners, pointing out that foreign trade indicators have registered a high growth rate of 9 percent (Dirhams 28 Billion) during the first half of the year in comparison with the same period last year, with exports growing by 32 percent (Dirham 9.2 Billion) and re-exports by 17 percent (Dirhams 12 Billion), further highlighting the effectiveness and benefits of the adopted open economic policy in ensuring strong ties between the national and global economy.
He added that the World Trade Organisation's announcement attributed the 35 percent increase in exports from Africa and the Middle East during the first half of this year to the increased demand for commodities in Asia and the United States of America and the increase in their prices.
The WTO announcement stated that the Commonwealth States achieved high growth rates in exports - 44 percent increase - thus boosting growth in the volume of international trade. Additionally, the WTO added that foreign trade between EU member states and the rest of the world was more than trade within the EU, even though the latter also witnessed an increase. – Emirates News Agency, WAM
