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UAE’s Foreign Trade Hits Record $820 Billion In 2024, Fueled By Strategic Deals

In 2024, the UAE’s foreign trade reached a historic $820 billion (AED 3 trillion), marking a significant achievement for the nation. This milestone was driven by a rise in international trade agreements, with Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, highlighting the pivotal role these partnerships played in the country’s economic growth.

Strong Trade Growth

The UAE’s foreign trade saw a robust 14.6% year-on-year growth in 2024, a stark contrast to global trade growth of just 2%. Sheikh Mohammed credited the nation’s ongoing efforts to strengthen economic ties globally, with a particular emphasis on the role of UAE President Sheikh Mohammed bin Zayed Al Nahyan, who has worked tirelessly to cultivate stronger international relationships.

The Impact Of CEPAs

A key contributor to the UAE’s foreign trade success is the implementation of Comprehensive Economic Partnership Agreements (CEPAs). These agreements, spearheaded by Sheikh Mohammed bin Zayed, added an impressive $36.8 billion (AED 135 billion) to the UAE’s non-oil trade in 2024, marking a 42% increase from the previous year. These agreements are helping to cement the UAE’s position as a global trade hub.

Achieving Ambitious Goals Early

In 2021, the UAE set an ambitious target of reaching $1.1 trillion (AED 4 trillion) in foreign trade by 2031. By the end of 2024, the country had already achieved 75% of this goal, putting it on track to surpass this target well ahead of schedule. This rapid progress reflects the UAE’s strong economic vision and strategic focus on progress over politics.

Exports Surge

The UAE’s exports also saw a significant jump in 2024, rising 32% between January and October compared to the same period in 2023. This performance highlights the strength of the country’s industrial strategy and its growing global market access.

Outlook for 2025

The UAE’s economic outlook remains strong, with the International Monetary Fund (IMF) forecasting 4% growth in 2025, driven by non-oil sectors such as tourism, construction, and financial services.

In conclusion, the UAE’s record-breaking trade figures are a testament to its effective economic strategies and its growing influence in global markets.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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