UAE posts Dh250b trade surplus in 2007

The UAE posted a trade surplus of about Dh250 billion, with re-exported goods valued at Dh200 billion in 2007, UAE Minister of Foreign Trade Shaikha Lubna Al Qasimi told the British Business Group yesterday.

The minister spoke of the UAE's plans for sustained economic growth and progress, in partnership with the UK. The nation's investment revenues are currently one of the highest in the world, she said.

In a country of non-oil revenue is expected to grow to Dh179.8 billion by the year 2012. The national gross domestic product is expected to increase by 60 per cent from Dh678.9 billion in 2007 to Dh1 trillion by the year 2012, depending on oil revenues increase by only 9 per cent annually Dh300 billion, "she said.

UAE comes Dh7.3 billion (about one-third of the area of Dh24 billion) value of exports to Britain. Dubai accounted for the largest share of 66 per cent. Over 85 per cent of trade between the two countries takes place through Dubai and the northern emirates, according to industry reports.

Britain has identified the UAE, as one of the key emerging markets, where it plans to enhance trade and investment relations.