EU-27 Emerges as UAE’s Second-Largest Non-Oil Trade Partner
The United Arab Emirates continues its trajectory of substantial economic growth, supported by ambitious reforms, investment in strategic sectors, and the diversification of its global trade portfolio. The country’s foreign trade strategy, particularly through the Comprehensive Economic Partnership Agreements (CEPAs), is creating stronger ties with major economic blocs and unlocking new opportunities for sustainable development.
Trade Partnership Growth
The EU-27 has officially become the UAE’s second-largest non-oil trade partner, a major milestone in UAE-Europe economic relations. The announcement follows recent high-level meetings between UAE officials and EU Trade Commissioner Maroš Šefčovič in Abu Dhabi and Dubai.
Trade Volume and Value
In 2024, non-oil trade between the UAE and EU-27 reached $67.6 billion, marking a 3.6% increase over 2023. This volume accounts for 8.3% of the UAE’s total non-oil trade, highlighting robust bilateral commercial exchange.
Strategic Economic Significance
The deepening relationship underscores a strategic realignment in the UAE’s trade priorities, signaling a clear shift away from oil-dependency and toward long-term partnerships with advanced economies like the EU.
Regional Impact
The UAE-EU economic corridor is gaining momentum, reflecting growing European engagement with Gulf economies. Recent collaborations in technology, energy, and infrastructure further demonstrate the UAE’s expanding influence as a regional trade hub.
Diversification Success
This development aligns with the UAE’s Vision 2031 economic strategy, reinforcing its commitment to economic diversification. Europe has emerged as a vital market for the UAE’s growing non-oil exports, from renewable energy to advanced technology.
