UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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ASEAN and UAE Forge Sectoral Dialogue Partnership: Unlocking New Avenues of Cooperation

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UAE

In a significant development, the Association of Southeast Asian Nations (ASEAN) and the United Arab Emirates (UAE) have launched a sectoral dialogue partnership. This milestone agreement sets the stage for enhanced collaboration and deeper engagement between the two regions across various sectors. The partnership aims to leverage the strengths and expertise of ASEAN member states and the UAE to unlock new avenues of cooperation, foster economic growth, and promote regional integration.

The sectoral dialogue partnership between ASEAN and the UAE comes at a time when the world is witnessing increasing interconnectedness and the need for stronger regional cooperation. By forging this partnership, both ASEAN and the UAE recognize the potential for shared progress and prosperity through dialogue, understanding, and joint initiatives.

One of the key areas of focus under this partnership is economic collaboration. ASEAN, known for its dynamic economies and robust trade networks, presents a wealth of opportunities for the UAE. Conversely, the UAE, with its strategic location and thriving business ecosystem, offers ASEAN member states a gateway to the Middle East and North Africa region.

The partnership will facilitate dialogue and cooperation in sectors such as trade and investment, infrastructure development, tourism, energy, technology, and innovation. By sharing best practices, promoting knowledge exchange, and exploring joint projects, both regions can unlock synergies and drive forward advancements in these sectors.

Moreover, the ASEAN-UAE sectoral dialogue partnership holds immense potential for enhancing regional integration. By aligning policies, harmonizing regulations, and promoting connectivity, the partnership aims to create a conducive environment for trade and investment flows, ultimately benefiting businesses and economies in both regions.

Additionally, this collaboration signifies a shared commitment to addressing common challenges, such as climate change, sustainable development, and regional security. Through joint efforts, ASEAN and the UAE can contribute to global efforts aimed at achieving the Sustainable Development Goals and ensuring peace and stability in the region.

The launch of the sectoral dialogue partnership between ASEAN and the UAE marks a significant milestone in strengthening regional cooperation and fostering mutual growth. With a focus on economic collaboration, innovation, and regional integration, this partnership has the potential to unlock new avenues of cooperation and open doors to exciting opportunities. As ASEAN and the UAE embark on this journey together, the prospects for shared progress and prosperity are bright.










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