$ 43.6 million in trade between the UAE and Uruguay in 2017.

The total value of trade between the United Arab Emirates and the Republic of Uruguay reached US $ 43.6 million in 2017, a growth of 26.5 percent from US $ 34 million in 2016.

The report of the Ministry of Economy on the Trade Policy Review of the United Arab Emirates and Uruguay indicates that the boom in trade relations registered between the two countries has not yet occurred. is operated in spite of the limited value of foreign trade, pointing out that this increase confirms that their economic relations are constantly developing, Among the opportunities for partnership between the two parties, both in terms of trade and opportunities d & # 39; investment.

The Uruguay Trade Policy Review Report, prepared by the World Trade Organization (WTO) Secretariat, showed that the country's economic authorities had implemented a set of macroeconomic stabilization policies from 2011 to 2017. The country located east of South America, average GDP growth of about 3%.

The report drew attention to the reflection of the period of the global economic recovery after the financial crisis, especially from 2011 to 2014, on the GDP growth of Uruguay, taking advantage of the rising international prices of agricultural raw materials, while the next period, particularly in 2015, experienced modest growth in GDP due to declining domestic demand.

It should be noted that the position of the UAE on the world trade map is very relevant to the vision of the state to increase openness and cohesion with the global economy, to develop its capabilities and to build bridges of cooperation with all countries to strengthen trade and logistics support channels. The Ministry of Economy wishes, as part of its mission, to strengthen and sensitize all institutions of the state, the public and private sectors, to the commercial developments and investment of the evil countries. Kuwait and the United Arab Emirates, by monitoring, analyzing and extracting the results and indicators contained in reports of the World Trade Organization and other organizations and institutions international.

WAM / Nasser Aref / Dina Omar

© Copyright Emirates News Agency (WAM) 2018.