UAE foreign trade hits record AED 2.2 trillion

The UAE's foreign trade exceeded AED 2.2 trillion in 2022, up 17 per cent year-on-year.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, revealed the figures during a cabinet meeting on Monday.

During the meeting at Qasr Al Watan Abu Dhabi, the cabinet expressed its condolences and sympathy to the people of Syria and Turkey following the devastating earthquake which struck the two countries.

It also directed disaster relief work teams in the UAE to provide all possible assistance to the two nations.

Artificial Intelligence 

The cabinet has assigned the competent entities to conduct an urgent study on the potential benefits of new A.I. technologies such as ChatGPT for government work, and its impact on the educational, health, media and other sectors.

National Space Fund

A National Space Fund will be established to support the implementation of ambitious projects in the field of space, support youth capabilities and competencies, and attract the best space companies to the UAE market.

The Fund will be managed and supervised by the UAE Space Agency.

National Framework for Sustainable Development

The UAE Cabinet approved the National Framework for Sustainable Development, which aims to preserve ecosystems and ensure the sustainability of the country's natural resources.

Meanwhile, the Ministry of Climate Change and Environment has been tasked with coordinating government efforts in preparation for COP28.

UAE Green Agenda 2030 

The Cabinet was briefed on developments in the implementation of the UAE Green Agenda 2030, which aims to achieve the goals of sustainable development, and the objectives of UAE Centennial 2071.

During the period 2023-2030, the UAE will implement initiatives and projects to support the goals of green economy, including increasing its contribution to the GDP to 5% by 2030, increasing exports by about AED 24 to 25 billion by 2030, and reducing emissions from 430 kilowatt-hours in 2013 to less than 100 kilowatt-hours by 2030. 

National policies for Cybersecurity

The Cabinet approved the National Policy for IoT security, the National Programme for Cybersecurity Accreditation, the National Policy for Cloud Security, and a number of related policies aiming at providing solutions for current and future challenges related to cybersecurity.

The meeting also approved the formation of a national committee to combat cyber-attacks.

Made in UAE

The Cabinet adopted a decision on updating the “Made in the UAE” unified national mark ecosystem, in order to support national products.

The update includes simplifying the procedures for obtaining the mark, allowing industrial facilities in free zones to obtain it, and confirming the facility's commitment to product safety through the application of conformity standards. 

Nafis

The Cabinet was briefed on the developments of Emiratisation programmes in the private sector, and issued a decision regarding the amendment of some provisions related to the goals of the “Nafis” initiatives, so that the annual target for Emiratisation is divided throughout the year by 1% in the first six months of the year and the other 1% in the second half of the year. 

The UAE Cabinet meeting approved a decision regarding the issuance of executive regulations for a number of federal laws and legislations, including the federal law regarding protecting witnesses and secret sources; the federal law regarding accessing genetic resources and their derivatives; the federal law regarding private health facilities, in accordance with the UAE’s policy regarding foreign investor ownership; the federal decree-law regarding Electronic Transactions and Trust Services.

The meeting approved the establishment of embassies in several countries, including Copenhagen, Denmark; Prague, Czech Republic; Helsinki, Finland; and Ulaanbaatar, Mongolia.

The Cabinet approved several international agreements with a number of friendly countries, including Lithuania, the Democratic Republic of Ethiopia, Poland, Russia and Israel.

ترأست اليوم اجتماعاً لمجلس الوزراء بقصر الوطن بأبوظبي .. أعربنا في بدايته عن خالص تعازينا للشعب السوري الشقيق والشعب التركي الشقيق في ضحايا الهزة الأرضية المدمرة التي تعرضت لها الدولتان.. سائلين المولى عز وجل أن يجبر مصابهم ويلهمهم الصبر والسلوان .. pic.twitter.com/yZT6lUYgxH

— HH Sheikh Mohammed (@HHShkMohd) February 6, 2023