In another year of noteworthy achievements for the UAE, there is a case to be made that the nation’s biggest success story in 2023 was trade. In the past 12 months, trade has become a record-setting driver of growth, a pillar of economic policy, a lynchpin of foreign relations and, at the recently concluded Cop28, a new front in the battle against climate change. Trade is now a central component of the UAE’s domestic success and, as we prepare to host the World Trade Organisation’s 13th Ministerial Conference in February, growing international influence.
Trade has always been important to the UAE, a bridge that has connected our products, skills and natural resources to the world and infused our economy with its latest ideas and innovations. But, as underlined by the “We The UAE 2031” vision launched at the end of 2022 by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, it is now a cornerstone of our economic development and diversification ambitions. Its stated targets of Dh4 trillion ($1.09 trillion) in foreign trade, almost double the current value, and non-oil exports of Dh800 billion ($217.8 billion) are a reflection of trade’s catalysing power.
It is these goals that have focused the Ministry of Economy’s efforts in 2023, particularly in regard to our landmark Comprehensive Economic Partnership Agreement programme, which seeks to remove or reduce tariffs, eliminate technical barriers to trade and improve market access to strategically important international markets. Since the turn of the year, we have made extraordinary progress. We have signed Cepas with Cambodia and Georgia, implemented Cepas with Turkey, Indonesia and Israel, concluded Cepa negotiations with South Korea, Colombia, Mauritius and the Republic of the Congo, and have initiated Cepa discussions with several other countries across five continents, including Serbia, Ukraine, Australia, the Philippines, Malaysia, Costa Rica, Kenya, Chile and Vietnam, as well as the Eurasian Economic Union.
When added to our deal with India, which entered into force in 2022, this represents a powerful new trade network that covers more than a quarter of the world’s population, and will drive a new era of prosperity. With 10 Cepas concluded to date, and negotiations ongoing with many other countries, the Cepa programme is projected to increase our exports by 33 per cent and deliver more than Dh153 billion to national GDP by 2031, representing growth of almost 10 per cent of GDP compared to 2022. In fact, the impact of the programme is already being felt: in the first half of 2023, non-oil foreign trade reached an all-time high of Dh1.239 trillion, with non-oil exports reaching Dh205 billion – more than the total recorded in the whole of 2017.
Trade has always been important to the UAE, a bridge that has connected our products, skills and natural resources to the world
We can be confident there will be more trade milestones to come. In 2023, we launched two important new initiatives that will increase our re-exports – and the value we are able to derive from them – and create new global opportunities for our services exports, which already account for 2.2 per cent of the global total.
These combined efforts are not only creating a world of opportunity for our exporters, industrialists and investors, they are also ensuring the UAE is a now a leading voice on global trade issues. In Davos in January, for instance, the UAE partnered with the World Economic Forum to launch a new Trade Tech Initiative to accelerate the integration of advanced technologies into global supply chains, boosting their efficiency and accessibility. Then, at Cop28 in Dubai, the UAE was instrumental in trade being incorporated into the event’s official programme for the first time, with Trade Day on December 4 placing trade front and centre of the climate debate and helping to galvanise efforts to deliver a cleaner, smarter and more inclusive trading system.
Throughout the year, the UAE has led by example. We have both advocated for the benefits of open, rules-based trade, and embodied them – delivering a model for multilateralism that nations around the world, particularly in the developing world, are now seeking to emulate.
It is this leadership, in word and deed, that we will now take forward into the 13th Ministerial Conference of the World Trade Organisation in Abu Dhabi in February. This is a pivotal meeting that is set to define the future of trade, and ensure every nation and every community has equitable access to global markets. Our message is unambiguous: a 21st century economy requires a 21st century trading system – and it is necessary for the global trading community to come together to deliver the reforms that requires.
As we reflect on the past year, we believe we have the conviction and the credibility to ensure we all succeed.
More from Rashmee Roshan Lall
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
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ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Fixtures
Sunday, December 8, Sharjah Cricket Stadium – UAE v USA
Monday, December 9, Sharjah Cricket Stadium – USA v Scotland
Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland
Thursday, December 12, ICC Academy, Dubai – UAE v USA
Saturday, December 14, ICC Academy, Dubai – USA v Scotland
Sunday, December 15, ICC Academy, Dubai – UAE v Scotland
Note: All matches start at 10am, admission is free
Fixtures
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
The five pillars of Islam
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The specs: 2018 Harley-Davidson Fat Boy
Price, base / as tested Dh97,600
Engine 1,745cc Milwaukee-Eight v-twin engine
Transmission Six-speed gearbox
Power 78hp @ 5,250rpm
Torque 145Nm @ 3,000rpm
Fuel economy, combined 5.0L / 100km (estimate)
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
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UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League quarter-final second leg:
Juventus 1 Ajax 2
Ajax advance 3-2 on aggregate
The Freedom Artist
By Ben Okri (Head of Zeus)
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Brief scoreline:
Toss: South Africa, elected to bowl first
England (311-8): Stokes 89, Morgan 57, Roy 54, Root 51; Ngidi 3-66
South Africa (207): De Kock 68, Van der Dussen 50; Archer 3-27, Stokes 2-12
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
UAE currency: the story behind the money in your pockets
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
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info-box
COMPANY PROFILE
Company name: Happy Tenant
Started: January 2019
Co-founders: Joe Moufarrej and Umar Rana
Based: Dubai
Sector: Technology, real-estate
Initial investment: Dh2.5 million
Investors: Self-funded
Total customers: 4,000
ICC men's cricketer of the year
2004 - Rahul Dravid (IND) ; 2005 - Jacques Kallis (SA) and Andrew Flintoff (ENG); 2006 - Ricky Ponting (AUS); 2007 - Ricky Ponting; 2008 - Shivnarine Chanderpaul (WI); 2009 - Mitchell Johnson (AUS); 2010 - Sachin Tendulkar (IND); 2011 - Jonathan Trott (ENG); 2012 - Kumar Sangakkara (SL); 2013 - Michael Clarke (AUS); 2014 - Mitchell Johnson; 2015 - Steve Smith (AUS); 2016 - Ravichandran Ashwin (IND); 2017 - Virat Kohli (IND); 2018 - Virat Kohli; 2019 - Ben Stokes (ENG); 2021 - Shaheen Afridi
Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
'Outclassed in Kuwait'
Taleb Alrefai,
HBKU Press
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
