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FinancialNews
28-06-21
UAE plans to enter 25 new international markets for foreign trade
(MENAFN)Referring to a ministerial assembly attended by the central bank governor, the state news agency WAM declared that the UAE budget balance enhanced in the first six months of the year as the economy started to recover from the COVID-19 pandemic.
WAM quoted Sheikh Mohammed bin Rashid Al-Maktoum, Dubai’s ruler as saying that the UAE plans to enter 25 new international markets for foreign trade, with the goal of increasing exports by 50 percent in the coming few years.
The UAE, a commerce and trade hub, was affected hard by the COVID-19 pandemic that had a crippling impact on sectors vital to its economy like tourism and hospitality.
The economy decreased 6.1 percent in last year, according to Preliminary data in May, as the central bank estimated GDP to improve 2.5 percent in 2021.
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