UAE-Saudi trade soars to AED 417 billion in five years

Monday, 23 September 2019 09:12

Saudi Arabia remains one of the top trading partners of the UAE.

Non-oil trade exchange between the two countries reached AED 107.4 billion in 2018, to register a 37 per cent year-on-year increase.

Meanwhile, overall figures over the past five years have exceeded AED 417 billion.

The UAE's Ministry of Economy has released the stats to coincide with the 89th National Day of Saudi Arabia.

There are more than 4,000 Saudi trademarks registered in the Emirates, while AED 16 billion is the value of direct Saudi investments in the UAE.

Speaking to ARN News, Dr. Reeem Osman, the CEO of Saudi German Hospitals Group, hailed the close business ties between the countries.

More from Business

China's Xi pushes for global AI body at APEC in counter to US

Chinese President Xi Jinping took centrestage at a meeting of APEC leaders on Saturday to push a proposal for a global body to govern artificial intelligence and position China as an alternative to the United States on trade cooperation.
H.H. Sheikh Mansour holds talks with CEO of France’s CMA CGM Group

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister, has explored ways to enhance cooperation in the maritime shipping and logistics sectors during talks with Rodolphe Saadé, Chairman and CEO of France’s CMA CGM Group.
ADNOC Distribution reports $579 million net profit in first 9 months

ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group’s 9-month shows 20% revenue growth

TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
DFM reports 212% increase in net profit before tax to AED930.8 million

The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.

Salik to apply peak-hour toll rates for Dubai Ride
Toll gate operator Salik said it will charge peak-hour fees on Sunday, November 2, as the Dubai Fitness Challenge's first flagship event - Dubai Ride - gets underway.
Mattar Al Tayer named Chairman of MBR Endowment District Board
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the Mohammed bin Rashid Endowment District Board of Trustees and appointed Mattar Al Tayer as its Chairman.
Sheikh Khaled calls for integrated global economic system at APEC
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has stressed the need to build an integrated global economic system to overcome challenges faced around the globe.