UAE, UK commodity trade at Dhs35.83b

30/11/2015 06:01 AST

The commodity trade between the UAE and the UK grew by around 2 per cent to Dhs35.83 billion (£6.49 billion) in the first nine months of this year compared with Dhs35.01 billion (£6.34 billion) in the same period last year.

According to the British Office for National Statistics, the value of the UAE’s commodity exports to the UK dropped by around 11.5 per cent to Dhs8.89 billion (£1.61 billion) in the first nine months of this year, down from Dhs10.05 billion (£1.82 billion) in the corresponding period last year.,

The value of the UAE’s imports from the UK grew by around 8 per cent to Dhs26.94 billion (£4.88 billion) during the first three seasons of this year, up from Dhs24.96 billion (£4.52 billion) in the same period last year.

The deficit in the UAE’s balance of commodity trade with the UK rose by around 21 per cent to Dhs18.06 billion (£3.27 billion) in the first nine months of this year, up from Dhs14.91 billion (£2.7 billion) in the same period last year.

In October, Sultan Bin Saeed Al Mansouri, Minister of Economy has led the UAE’s trade delegation to the United Kingdom.

The visit included meetings with high-profile officials in the UK government in London and Manchester. During the meeting, they discussed ways to enhance trade and economic co-operation, as well as joint investments.

The three-day event included meetings with a number of senior officials of the British government and a round table of an elite of businesspersons. They also held the 4th UK-UAE Joint Economic Committee meeting. The meeting was in line with the two sides’ pursuance to bolster joint co-operation. The UAE delegation also paid field visits to a number of pioneering UK institutions.

The delegation held a meeting with Mayor of Greater Manchester, Tony Lloyd, and a number of government officials and businesspersons.

The Gulf Today