UAE trade maintains double-digit growth in first nine months of 2026: Fahad Al Gergawi

Dubai: Fahad Al Gergawi, Under-Secretary of the Ministry of Foreign Trade, affirmed that the UAE’s trade continued to record double-digit growth during the first nine months of 2026, despite challenges facing global markets. He highlighted the country’s ongoing efforts to strengthen international economic partnerships and develop its logistics and financial infrastructure, reinforcing its position as a global hub for trade and investment. Speaking during a session titled "Corridors of Capital: How the UAE Can Become the Financing Hub for Its Trade Partners”, held on the second day of the Dubai FinTech Summit as part of Dubai Future Finance Week, Al Gergawi said the UAE is the largest trading nation in the Arab world and ranks among the world’s top ten countries in trade facilitation. He noted that the country’s foreign trade reached approximately US$1 trillion last year, with further growth expected in 2026. Al Gergawi explained that this performance reflects the resilience of the national economy and its ability to respond to global developments, stressing that the UAE’s strategy focuses on maintaining readiness for different economic conditions rather than benefiting only during periods of growth and prosperity. He pointed out that the UAE continues to enhance supply chain resilience and diversify its trade corridors by expanding port capacity along the country’s eastern coast, particularly in Fujairah and Khorfakkan, while leveraging the Etihad Rail network to transport goods, ensure the continuity of trade flows and improve logistics efficiency. He added that UAE companies play a significant global role in managing and operating ports and airports, overseeing more than 140 ports and over 30 airports worldwide, supported by decades of accumulated expertise in trade, transport and logistics. Al Gergawi emphasised that Comprehensive Economic Partnership Agreements (CEPAs) represent a key pillar of the UAE’s strategy to expand foreign trade and open new markets for businesses and investors. He explained that the UAE began this journey with its Comprehensive Economic Partnership Agreement with India, which took 88 days to conclude, before expanding its partnerships with major economies, including Türkiye, Australia and Indonesia. He noted that the network of economic agreements and understandings being pursued by the UAE now extends to approximately 40 countries, reflecting international confidence in the national economy and the opportunities it offers to trading partners. He explained that CEPAs go beyond reducing customs duties and facilitating trade. They also support investment attraction, industrial development and business competitiveness by providing access to new markets and creating opportunities for manufacturing, exports and re-exports. Al Gergawi highlighted that the UAE ranks among the world’s five largest re-export hubs, benefiting from its strategic geographical location and the integration of its advanced infrastructure with its financial and commercial ecosystem. He stressed the importance of developing innovative trade finance products and services to keep pace with expanding international trade, noting that the banking sector plays a vital role in supporting businesses, importers and exporters. He added that the next phase requires greater integration between financial institutions and commercial sectors to meet evolving financing needs. Al Gergawi also addressed international economic cooperation through the Future of Investment and Trade Partnership (FITP), which brings together economies sharing common perspectives on strengthening rules-based trade and advancing cooperation to address global economic challenges. He highlighted the growing importance of technology and artificial intelligence in developing trade and financial services, explaining that the Ministry of Foreign Trade is working to expand the use of AI technologies across its operations, in line with the government’s efforts to accelerate procedures and improve service efficiency. He also referred to cooperation with global logistics company DHL in training exporters, aimed at developing business capabilities and enabling companies to make greater use of trade opportunities in international markets. Al Gergawi affirmed that the UAE’s economic standing is the result of a forward-looking vision and long-term infrastructure investments, dating back decades to the development of ports, airports, business centres and logistics facilities. He explained that these investments established an integrated ecosystem connecting trade activity with capital flows, strengthening the country’s ability to attract investments and develop economic relationships with international markets. He concluded by emphasising that the UAE will continue diversifying its economic partnerships, developing trade corridors and enhancing the efficiency of its financial and logistics ecosystem, supporting foreign trade growth and consolidating the country’s r