DUBAI- The United Arab Emirates’ non-oil trade reached a record high 3.5 trillion dirhams ($952.93 billion) in 2023, Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said on X on Sunday, reflecting the country’s initiatives to reduce its reliance on oil.
Trade in non-oil goods rose 12.6 percent from 2022, while exports of goods and services surpassed 1 trillion dirhams to set a new record, Thani Al Zeyoudi, minister of foreign trade, said in a separate social media post.
Since 2021, the Gulf oil exporter has initiated a raft of bilateral trade, investment and cooperation deals – called Comprehensive Economic Partnership Agreements (CEPAs) – to bolster efforts aimed at diversifying income sources and economic sectors.
Zeyoudi told Reuters there had been no impact so far on the UAE of disruption to Red Sea shipping routes from Houthi attacks.
“We…