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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A significant visit that ignites trade and technology partnerships in Southeast Asia

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UAE

The UAE PresidentUAE President's main  visit to Southeast Asia   is for Trade deals, advanced technology and security will be at the top of the agenda   

“I think the primary purpose of Sheikh Mohamed's visit to South Korea and China is to enhance its access to their advanced technologies,” Shigeto Kondo said  

The visit comes at a time when the UAEUAE, the Arab world’s second-largest economy, strengthens economic relations with other nations to enhance technological progress, make strategic investments and diversify away from an oil-based economy. 

Earlier  post  of  UAE  president stated   "  Today I arrived in Seoul, where I will join @President_KR Yoon Suk Yeol in discussing ways to advance the Special Strategic Partnership between the UAE and Republic of Korea. Through economic partnership and close people-to-people ties, our nations are determined to achieve " 

Marks the  significant developments  and unveils a new  era  of  cooperation between the two nations  

This coming Tuesday UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan will commence a state visit to the People's Republic of China following an invitation from Chinese President His Excellency Xi Jinping.  

Over the years  Chinese investments in the UAE increased by more than 16 percent annually last year to $1.3 billion, Zhang Yiming, China’s ambassador to the UAE, said at an Abu Dhabi event last week.  

Even  the UAE has continuously been showing its willingness to negotiate bilateral FTAs with other countries rather than within the framework of the Saudi-led GCC 

The value of non-oil trade between the UAE and China exceeded Dh264.2 billion ($72 billion) in 2022, growing by 18 percent from Dh223.8 billion in 2021 

During the  visit also  His Highness will attend celebrations marking the 40th anniversary of the establishment of diplomatic relations between the UAE and China and will participate in the 10th Ministerial Conference of the China-Arab States Cooperation Forum

During President Sheikh Mohamed's visit to China and South Korea, the UAE focused on commerce and technology, highlighting the need for international relationships for economic growth and technical innovation.   

Such  a good  cooperation  between  UAE  and  Southeast Asia      nations  


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