News
Deepening Collaborations: This BRICS nation and UAE just noted significant non-oil trade numbers
Earlier this month, the UAE’s Minister of Foreign Trade, Dr Thani al Zeyoudi, and the South African Business Council in the Gulf state met and discussed strategies to increase trade, funding and collaboration.
This meticulous meeting brought into focus the UAE’s commitment to strengthening bilateral relations as it recognises Africa’s increasing importance in global trade dynamics. The UAE officially became a member of BRICS in 2024, a grouping also featuring South Africa.
South Africa a significant non-oil trade partner of UAE
The discussions from earlier this month noted that the bilateral UAE-South Africa non-oil trade reached $8.5 billion in 2024, representing a significant 14% increase compared to the year before and a 120% rise since 2019.
In just the first six months of 2025, the trade numbers totalled $3.9 billion. It has been confirmed that South Africa has become the UAE’s second-largest non-oil trade partner in the burgeoning continent.
During the meeting, Thani al Zeyoudi emphasised areas of cooperation in food security, logistics, tourism, infrastructure and clean energy. The joint projects hold great potential in supporting economic progress and sustainable improvements.
Read Also : UAE non-oil foreign trade hits all-time high
UAE committed to enhancing bilateral economic partnerships
The talks from earlier this month in the UAE addressed strategies to encourage private sector collaboration on both sides. More than 3,690 South African companies currently operate in the Gulf state, across different sectors, such as hospitality and construction.
The UAE is committed to enhancing bilateral economic partnerships, said Thani al Zeyoudi. The recent discussions focused on encouraging collaborations in different sectors and noted the considerable opportunities that exist for both countries’ private sectors to further expand ties.
-
Business1 week agoStep-by-Step Guide to Use the DFM App to Buy the UAE’s Government-Backed and Safest T-Sukuk Programme
-
News5 days agoIndian Passport & Visa Services Suspended in UAE: 3 Emergency Channels to Use If You Need Urgent Renewal This Week
-
Top Stories7 days agoCan I Return to the UAE with an Expired Residency Visa? 3 Rules for the New ICP Grace Period Scheme
-
Entertainment1 week agoCall of Duty: Modern Warfare 4 Guide – UAE & KSA Pre-Order, Release Date and Beta Details
