Despite slow oil export growth, the UAE will see steady growth in trade as it benefits from its diversification strategy. Indeed, non-oil trade already accounts for the majority of exports (65%).
UAE’s status continued as a leading regional trading hub and commitment to free trade will lead to strong growth in trade among key Asian trading partners (China, India, and Vietnam). Malaysia will also become an increasingly important export destination.
Progress in building a knowledge based economy (an economy with a large share of high-skilled workers, such as specialists and technicians in scientific and technical sectors), together with further potential trade liberalisation, will drive increased trade in the Electronics, Information and Communications Technologies (ICT) sectors.