Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai said Sunday that the UAE plans to enter 25 new international markets for foreign trade, with the goal of boosting exports by 50% in the next few years.
"We have adopted the National Agenda for Non-oil Export Development, a vital step aims at accessing 25 new markets. The UAE non-oil trade exceeds 1.5 trillion dirhams,” Emirates News Agency (WAM) quoted Sheikh Mohammed as saying during the cabinet meeting.
He added that non-oil sectors contribute more than 70 percent of the national economy, stressing that the UAE aims to increase exports by 50 percent in the coming years.
WAM said in a separate report that the UAE budget balance improved in the first half of the year as the economy began recovering from the COVID-19 pandemic.
The state news agency cited a ministerial meeting attended by the central bank governor.
