UAE Foreign Trade Hits Dhs5.23 Trillion, Leaders Hail Vision

In a year marked by global economic uncertainty and shifting trade dynamics, the United Arab Emirates has achieved a historic milestone that underscores its position as a global trade powerhouse. With foreign trade reaching an unprecedented Dhs 5.23 trillion in 2024, the UAE has reaffirmed the strength of its visionary leadership, resilient economic policies, and commitment to openness and global connectivity. The announcement, made by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, was met with praise from His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, who lauded the efforts of all Emiratis contributing to the nation’s prosperity. This milestone reflects more than just numbers—it tells the story of a nation that has positioned itself as a bridge between East and West, a hub for international commerce, and a symbol of what forward-thinking leadership can accomplish in the face of global challenges.

UAE’s Foreign Trade Milestone Recognized with Presidential Praise and Global Spotlight

The year 2024 will be remembered as a defining chapter in the United Arab Emirates’ economic story. On Sunday, the President of the UAE, His Highness Sheikh Mohamed Bin Zayed Al Nahyan, publicly lauded the visionary leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Vice President, Prime Minister, and Ruler of Dubai, following the announcement that the UAE’s foreign trade had reached an unprecedented Dhs 5.23 trillion. This landmark achievement not only marks a new record in the nation’s trading history but also serves as a reflection of the country’s relentless commitment to economic openness, growth, and resilience on the global stage.

The recognition came in the form of a heartfelt message shared by Sheikh Mohamed Bin Zayed through his official account on the social media platform X, formerly known as Twitter. It was a message filled with pride, gratitude, and acknowledgment of the collaborative efforts that have fueled the UAE’s meteoric rise as a global trade hub.

Presidential Recognition of Visionary Leadership

In his tribute, Sheikh Mohamed Bin Zayed emphasized the crucial role played by Sheikh Mohammed Bin Rashid in shaping and steering the economic trajectory of the UAE. Addressing his counterpart with deep respect and familiarity, he wrote: “You have done a great job, my brother Bu Rashid.” The statement struck a chord with the nation, resonating as a powerful validation of the efforts made under the leadership of Sheikh Mohammed.

The President further elaborated on the foundational values that have driven this success, pointing to the enduring legacy of the UAE’s founding father. “With your vision and the dedicated efforts and perseverance of the Emirati work teams, you prove to the world every day that the UAE is an exceptional country, just as our founding father, Zayed, may God bless his soul, wanted it to be,” he wrote.

This expression of admiration also served as a broader acknowledgment of the collective efforts of Emirati professionals, economists, policymakers, and government workers who contributed tirelessly to elevating the UAE’s position in global trade rankings. “Thank you and all dedicated Emiratis who have worked with you for the prosperity and progress of the UAE,” Sheikh Mohamed concluded, encapsulating the spirit of national unity and collaborative ambition.

Sheikh Mohammed Bin Rashid’s Trade Announcement

Earlier in the day, Sheikh Mohammed Bin Rashid made the official announcement of the country’s foreign trade performance in 2024 through his own X platform account. The figure—Dhs 5.23 trillion—is not just a numerical achievement but a symbol of the UAE’s commitment to global integration and economic sustainability.

In his post, Sheikh Mohammed highlighted the values and strategies that led to this success. “In a world facing major economic and trade challenges, the UAE has chosen from the outset an approach of openness, building bridges, and promoting the free movement of trade, capital, and people,” he wrote.

This philosophy of open engagement with the global economy is a long-standing tenet of the UAE’s economic policy. But in 2024, it has borne fruit on an unprecedented scale. As Sheikh Mohammed further stated, these policies have made the UAE “a bridge between East and West and a global economic hub,” positioning the country as a vital conduit for international commerce.

The UAE’s Strategic Approach to Global Trade

The extraordinary results of 2024’s trade performance stem from deliberate and strategic policies aimed at boosting the UAE’s connectivity, diversification, and attractiveness to international partners. The government has consistently prioritized bilateral trade agreements, the strengthening of regional cooperation, and the establishment of competitive logistics and infrastructural systems.

Among the pillars supporting this achievement are the UAE’s free trade agreements with major global economies, membership in regional and international economic blocs, and its dedication to enhancing customs procedures and digital infrastructure.

Furthermore, the expansion of key sectors such as logistics, re-exports, and high-tech manufacturing has played a vital role. The UAE’s geographical advantage—straddling major global shipping routes—combined with a world-class transportation network, has helped solidify its place as a pivotal player in international trade flows.

Navigating Global Economic Challenges with Confidence

The global economic landscape in 2024 has been marked by fluctuations, trade restrictions, inflationary pressures, and geopolitical uncertainties. Yet, the UAE managed not only to withstand these challenges but also to surge ahead, driven by decisive leadership and dynamic policy frameworks.

Sheikh Mohammed’s emphasis on “building bridges” comes at a time when many nations are adopting protectionist measures. In contrast, the UAE’s commitment to open markets, transparency, and inclusive economic growth has provided it with a unique edge.

Moreover, the country’s focus on innovation, technology, and sustainability has allowed it to diversify its trading partners and reduce dependence on a narrow range of sectors. From renewable energy projects to digital transformation initiatives, the UAE is actively recalibrating its trade ecosystem to ensure future-ready resilience.

Trade Diversification and Future-Forward Policies

One of the central reasons for the UAE’s robust foreign trade figures is its sustained push for diversification. In recent years, the country has deliberately broadened the scope of trade beyond traditional energy exports. Non-oil trade has taken on an increasingly significant role, with key sectors including gold and precious metals, electronics, industrial equipment, pharmaceuticals, and agro-commodities witnessing rising demand.

At the same time, foreign direct investment has been nurtured through progressive regulations, free zones, and investor-friendly legislation. These measures have attracted international businesses to use the UAE as a base for accessing markets across the Middle East, Asia, Europe, and Africa.

The leadership’s long-term economic strategy—embodied in initiatives like the “We the UAE 2031” vision—has provided a comprehensive framework for sustainable development, underlining innovation, trade liberalization, digital economy growth, and environmental responsibility as core objectives.

Digital Economy as a New Growth Engine

In addition to physical trade, the UAE has been positioning itself as a leader in the global digital economy. With investments in AI, blockchain, smart customs, and e-commerce infrastructure, the country has created a digitally enabled trading environment that is efficient, secure, and adaptable.

Digital platforms for trade facilitation have reduced friction, sped up processes, and improved transparency. This technological leap is a key factor in the UAE’s ability to scale up its trade activities, streamline logistics, and build lasting partnerships with digital-first economies.

These digital solutions are also enabling small and medium-sized enterprises (SMEs) to engage more actively in international trade, contributing to a more inclusive and diversified economic landscape.

Global Trust and Diplomatic Trade Bridges

The UAE’s diplomatic agility and neutrality in global affairs have made it a preferred partner for trade relations across geopolitical divides. The country’s proactive diplomacy, commitment to peace, and adherence to international standards of governance and business ethics have built strong bridges with both Eastern and Western economic powerhouses.

Over the past year, the UAE has signed and expanded numerous Comprehensive Economic Partnership Agreements (CEPAs) with countries in Asia, Africa, and Europe. These agreements reduce trade barriers, harmonize regulations, and open up vast new opportunities for Emirati companies and investors.

These multilateral frameworks have not only expanded market access but also increased trust in the UAE as a stable, reliable, and forward-thinking trade partner in a turbulent global environment.

Public Recognition and National Pride

The interaction between Sheikh Mohamed Bin Zayed and Sheikh Mohammed Bin Rashid on the X platform was more than a ceremonial exchange—it represented a moment of national pride. Their mutual respect and shared commitment to the UAE’s vision offered a glimpse into the unity at the top levels of leadership, which has translated into coherent policy execution and lasting economic success.

The warm, personal tone used by the President—referring to Sheikh Mohammed as “Bu Rashid”—further underscored the familial spirit that defines the UAE’s leadership. It is this sense of shared mission, rooted in the legacy of the nation’s founding father, Sheikh Zayed, that continues to inspire and drive the UAE forward.