UAE’s foreign trade to grow by 15 percent

By IANS/WAM,

Abu Dhabi: UAE’s foreign trade will grow by 10 to 15 percent in 2012, Foreign Trade Minister Sheikha Lubna Al Qasimi has said.

---

Support TwoCircles

---

India was the top trade partner of the UAE last year, as trade between the sides stood at $53 billion, followed by China at $14 billion.

The growth rate of UAE’s foreign trade in 2011 was 23 percent against 14 percent in 2010, surging by 47 billion dirhams (over $12 billion), minister said.

The country’s foreign trade policy focuses on the expansion of non-oil sector and boosting ties with its trade partners in five continents, she added.

She was speaking to foreign journalists at Grand Millennium Hotel in Abu Dhabi.