UAE Achieves Historic 3 Trillion Dirham Trade Milestone

The United Arab Emirates' (UAE) foreign trade reached 3 trillion dirhams for the first time at the end of 2024, which Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, and Ruler of Dubai, hailed as a 'historic milestone.' Sheikh Mohammed announced this significant economic achievement on X (formerly Twitter), highlighting that while global trade grew by only 2% in 2024, UAE's foreign trade expanded at a rate seven times faster, at 14.6%.

The Success Behind: Strategic Partnerships and Leadership Commitment

According to Sheikh Mohammed, this outstanding performance is not accidental but is the result of years of tireless work and strategies led by President Sheikh Mohamed. He particularly emphasized the impact of the Comprehensive Economic Partnership Agreements (Cepa) that were concluded under the leadership of Sheikh Mohamed bin Zayed. These agreements increased the country's non-oil trade with partner countries by 135 billion dirhams, representing a 42% growth compared to the previous year.

Crossing the 3 trillion dirham threshold signifies a huge leap for the UAE, and the country is well on track to achieve its 4 trillion dirham annual target by 2031. Sheikh Mohammed stated that by the end of 2024, 75% of the target was reached, and at this pace, the goal will be achieved years earlier.

UAE Economic Growth: Rising Despite Global Trends

Over the past decades, the UAE's economy has developed explosively. According to the UAE's foreign trade state secretary's earlier report, the country's GDP, foreign direct investments (FDI), and non-oil foreign trade have withstood global economic uncertainties and continue to grow. The UAE's economy has grown 24-fold in 53 years, which is a unique achievement in the region.

In an interview, the UAE's Minister of Economy emphasized that the country is steadfastly working to increase its GDP to 3 trillion dirhams by 2031. This goal focuses not only on economic growth but also on the country's long-term stability and prosperity.

Stability and Prosperity: The UAE's Economic Philosophy

Sheikh Mohammed emphasized that for the UAE, development is more important than politics. The country has a clear vision and bold ambitions that allow it to remain at the center of the global economic map. 'The UAE is building its own economic future. Our priority is to strengthen our economic partnerships with the world's countries because prosperity is based on stability,' he said.

According to Sheikh Mohammed, success belongs to those who know exactly where they are heading. The UAE is not only a key player in the region but also in the global economy, ensuring its long-term development through strategic collaborations and innovative economic policies.

What to Expect in the Future?

The 3 trillion dirham foreign trade milestone is just the first step towards the UAE's ambitious goals. The country aims to reach a 4 trillion dirham annual foreign trade by 2031, and every indication is that this pace will be maintained. In addition to economic growth, the UAE is continuously developing its infrastructure, supporting innovation, and sustainable development to remain attractive to investors and international partners.

The UAE's history clearly demonstrates that a stable political environment, strategic planning, and global cooperation are crucial for long-term economic success. In the future, we can expect the UAE to remain one of the world's most dynamically developing economies, a key player not just in the region but also in global trade.