UAE Set to Grow in Year Ahead

UAE Economic Minister Sultan Al-Mansouri

The UAE’s economy is expected to grow by 3-3.5% this year according to Sultan Al-Mansouri, the country’s economic minister. In a report in Emirates 24/7. The minister reports that the UAE has weathered the world’s recent economic turbulence to emerge as one of the 20 top importing and exporting  nations. He stated, ““Over the past two years, when the world at large faced the challenges of the global financial crisis – some of it still pestering the European Union – the UAE has evolved as a model of hope and business optimism.”

World Trade Organization (WTO) Figures cited by Mansouri show that in 2010 the UAE was the world’s 13th largest exporter with $235 billion or two per cent of the world’s total merchandise exports, surpassing major exporting countries such as India, Australia, Brazil and Malaysia. Financial services, green technologies, information technologies and health care and life sciences are a few of the areas cited by the minister as have extremely significant potential for growth.