The national agenda was approved with an aim to increase national exports by 50 percent in the next years by adopting a national agency for non-oil export development to access 25 global markets, during a Cabinet meeting that was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, at Qasr Al Watan, on Sunday.
“In a cabinet meeting I chaired at Abu Dhabi’s Qasr Al Watan, we have adopted the National Agenda for Non-oil Export Development to access 25 new global markets & advance our foreign trade. Our non-oil trade exceeds Dh1.5 trillion annually with a network that reaches 400 cities.”
“Our non-oil sectors contribute over 70 percent of our national economy and we aim to increase the UAE’s national exports by 50% over the coming years. In the UAE, we work as one team to boost our national economy and reinforce the UAE’s leading position as a global business hub,” Sheikh Mohammed said.
“We also approved the National Manual for Measurement of Research and Development Expenditures in government sector. The UAE spends 1.3 percent of its GDP on R&D, which is at the core of the knowledge-based economy we aim to boost.”
“We approved legislative amendments in healthcare, education, economy, emergency response, and crisis management, with aims to provide the best quality of life based on a stable and diversified economy,” Sheikh Mohammed added.
(Source: www.gulfnews.com) (Image Credit: Twitter/@HHShkMohd)