‘UAE trade to grow with the aid of CEPA deals’
According to economic experts, the UAE’s trade with the rest of the world is set to grow, bolstered by its focus on growing its non-oil sector, the country’s wider reach to markets through trade deals and the reopening of the Chinese economy, says the National.
“We expect trade in goods and services to expand and be stimulative of economic growth,” Scott Livermore, chief economist, Oxford Economics, said. The UAE, a global transport and logistics hub, is expected to register an increase in the trade of goods this year, despite global headwinds such as economic fragmentation and nearshoring in a post-pandemic world.
The UAE’s aviation sector will also benefit from the continued rebound in travel and tourism, particularly the long-haul travel market that is key for airlines such as emirates, he added.