UAE believes that open rules-based trade remains an essential driver of long-term development for nations across the world, Foreign Trade Minister Dr Thani bin Ahmed Al Zeyoudi said during the G20 Trade and Investment Ministerial Meeting (TIMM) in Gqeberha, South Africa.
Abu Dhabi Customs and Maersk Global Trade & Customs Consulting have signed a strategic cooperation agreement aimed at strengthening border management, enhancing supply chain resilience, and improving the efficiency and competitiveness of Abu Dhabi’s trade and logistics ecosystem.
Economic, investment and services activity within GCC expanded by 2024-end with the intra-GCC trade surging to $146 billion in 2024, according to a report. The real estate ownership cases by GCC citizens in other member states reached 17,900 in 2024.
The Kingdom of Saudi Arabia stands to benefit from the ongoing shifts in global supply chains - from fair trade to a managed and rule-driven trade model - as it can play a vital role as a connector economy linking Africa with Europe and Asia, said its economy minister.
The World Bank projects that growth in Gulf Cooperation Council (GCC) states will rise to 4.4% in 2026 and 4.6% in 2027.
