Home Business Value of Emirati-French trade totalled AED256.1 billion over 10 years

Value of Emirati-French trade totalled AED256.1 billion over 10 years

by Dubai Forum
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ABU DHABI, 18th July, 2022 (WAM) — The ongoing growth in trade between the UAE and France underscores their strong economic partnership and deep-rooted relations, supported by their leadership.

The visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to France also confirms the strength of the comprehensive strategic partnership between the two friendly countries.

From 2012 to 2021, the value of the non-oil trade between the UAE and France increased by 8 percent, from AED23.2 billion in 2012 to over AED25.2 billion in 2021, according to data from Federal Competitiveness and Statistics Centre, which showed a growth of 28 percent in trade exchange over the past year compared with 2020, amounting to AED19.7 million.

Their non-oil trade over the past decade amounted to over AED256.15 billion, with a total weight of 8.28 million tonnes. UAE’s non-oil exports valued at over AED5.16 billion, weighing 957,830 tonnes; and re-exports worth over AED22 billion, weighing 198,220 tonnes. Imports from France were valued at AED228.9 billion, with a total weight of 7.12 million tonnes.

Ornaments, jewellery and related products came in the first place on the list of five leading goods imported from France in 2021, with a value of AED2.46 billion, followed by hand-made paintings and pictures at AED2.33 billion, perfumes and cosmetic water at AED1.73 billion, jets, propellants and gas turbines at AED1.37 billion, at medicines at AED1.3 billion.

The five leading goods exported to France in 2021 included large bottles and commodity preservation bottles valued at AED94.3 million, followed by hardware components at AED55.9 million, raw timbre at AED45.4 million, cigarettes and tobacco at AED29.5 million, and pumps and lifters for liquids at AED26.3 million.

The five leading goods re-exported to France in 2021 included hardware components valued at AED705.8 million, followed by jewellery and related products at AED265.8 million, tourist vehicles and personal transport vehicles at AED141.7 million, perfumes and cosmetic water at more than AED125 million, and planes, helicopters, satellite components and spacecraft at over AED121 million.

Moreover, the UAE-France Strategic Dialogue held its 14th meeting in Abu Dhabi in June 2022, underscoring the distinguished partnership between the two countries, following the directives of President His Highness Sheikh Mohamed and Emmanuel Macron, President of France.

In line with the ambitious 2020-2030 Emirati-French bilateral roadmap, which was adopted in June 2020, the two sides are working on boosting their cooperation in key areas, including the economy, trade, investment, oil and gas, hydrogen, nuclear energy, climate change, education, culture, health, artificial intelligence, food security and fintech.

Both sides also highlighted the importance of the “One Planet Sovereign Wealth Funds” initiative, which will be hosted by the UAE in October 2022, in addition to the “UAE-French Energy Event”, on 7th and 8th November, 2022.

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