The UAE Minister of Economy, Abdullah Al-Marri, announced that the UAE accounts for 11% of the total global gold exports.
According to Arabnet, the Minister of Foreign Trade, Thani Bin Ahmed Al-Zeyoudi, said that the gold trade accounts for more than 29% of the total national non-oil exports, and that it A major axis in the state's foreign trade activities.
He added: Despite the challenges posed by the Covid-19 pandemic to global trade activities, the gold commodity in the UAE contributed to achieving a positive increase in Emirati exports by 6% During the period from January to August 2020 compared to the same period in 2019.
and Al-Zeyoudi continued: During July and August 2020, the growth in gold exports compared to the same two months of 2019 reached 84% in terms of value and 38% in terms of quantity. .
The Ministerial Council for Development was approved in its session held under the chairmanship of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, on December 6, 4 new initiatives aimed at strengthening the position of the United Arab Emirates as a global hub for gold trade, including establishing the UAE standard for good gold delivery, developing a federal platform for gold trading, establishing a committee for the UAE bullion market, and finally building a database for companies and individuals trading gold.
