emirates7 - The UAE reached a significant milestone, achieving a record high of Dh1.395 trillion in non-oil foreign trade. This accomplishment was announced by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

On Sunday, the Ruler acknowledged this achievement under the leadership of President Sheikh Mohammed bin Zayed Al Nahyan.

Sheikh Mohammed took to X (formerly Twitter) to share the news, stating: "A few years ago, we set ambitious national economic goals, aiming for Dh4 trillion in foreign trade by 2031—a target considered highly challenging at the time. Today, the figures for the first half of 2024 that our exports in just six months are equal to what we used to export in an entire year before the Covid-19 pandemic in 2019."

He continued, "Our foreign trade is approaching Dh1.4 trillion in these six months, with a 25 percent growth in non-oil exports. We aim to reach Dh3 trillion in non-oil foreign trade by the end of this year."

Sheikh Mohammed also highlighted the UAE's strengthened economic ties with countries worldwide, noting a 10 percent increase in trade with India, 15 percent with Turkey, and 41 percent with Iraq, making Iraq the UAE's top export destination, followed by India and Turkey.

He emphasized that while the global growth rate for foreign trade stands at about 1.5 percent, the UAE's foreign trade has grown by 11.2 percent annually, reflecting the nation's steady progress toward its goals.

The Ruler concluded by expressing gratitude for the support of Sheikh Mohammed bin Zayed Al Nahyan, who has forged strong international relations, and for the hard work of countless teams in both the public and private sectors.

"The flag rises, the nation and the region prosper, and our future is brighter, higher, and more promising," Sheikh Mohammed said in closing.