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This year is UAE’s best economically, says Sheikh Mohammed bin Rashid

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The UAE’s non-oil foreign trade grew to a record Dh1.239 trillion in the first half of 2023, a growth of 14.4 per cent compared to the same period last year with China, India and the US staying the top trading partners.

Announcing the achievement, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said: “The UAE’s non-oil export continues to set unprecedented records as it rose 22 per cent with the top 10 global trading partners in 2023… The bilateral trade with Türkiye recorded one of the highest growth rates in the first half of 2023, with 87.4 per cent growth compared to the same period in 2022,”

Sheikh Mohammed also posted a message on the X (formerly Twitter) platform: “2023 will be the best economic year in the history of our country.”

CEPA, imports and exports

The UAE’s non-oil foreign trade has seen a continued upward trend, achieving quarter-on-quarter growth since 2020. The growth is driven by multiple factors such as UAE’s investor-friendly policies and the signing of Comprehensive Economic Partnership Agreements (CEPAs) with many countries. This has also improved the country’s overall economic profile.

“The UAE will remain a major player in international trade, maintaining its position as a bridge linking the East with the West, and the North with the South,” added the UAE Vice-President.
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, said these results coincide with the CEPA programme, which is deepening ties with key markets around the world – including India and Türkiye, two of largest export destinations. “We can anticipate new milestones as more CEPAs are signed,” said Al Zeyoudi.

Abdulla bin Touq Al Marri, Minister of Economy, last year said the country aimed to sign 26 CEPAs in the coming few years to boost foreign trade with major partners.

Top trading partners

The Ministry of Economy said China has retained its position as the UAE’s leading global trading partner, followed by India, the US and Saudi Arabia. Türkiye, with whom the UAE signed a CEPA in March, came in fifth place, with Iraq, Switzerland, Japan, Hong Kong, and Russia completing the top 10.
Overall, the UAE’s top ten trading partners witnessed a combined growth of 16.7 per cent in non-oil trade, while the rest of the markets accounted for 12.4 per cent growth.

Gold, aluminium, oils, cigarettes, copper wires and jewellery topped the list of the UAE’s most prominent exports. Gold exports registered the highest growth of 40.7 per cent to reach Dh218.3 billion.

Crime

Dubai scam alert: Authority warns of fake QR code scams as cyber fraud attempts rise

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The Dubai Electronic Security Centre (DESC) has issued a warning over a growing number of scams involving fake QR codes, especially those sent through email.

According to the authority, cybercriminals are exploiting how quickly information spreads by sharing QR codes that appear to offer urgent updates or important services. However, scanning these codes can expose users to serious risks.

DESC explained that such QR codes may install malware on devices or redirect users to fake websites designed to steal personal and financial information.

How to protect your device

Residents are being urged to stay cautious by verifying the source of any email before scanning QR codes, avoiding suspicious messages, and never entering sensitive details on untrusted links.

To boost online safety, DESC also recommends using the RZAM app, which provides real-time alerts about unsafe websites and allows users to scan links before opening them.

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Business

Dubai’s unified car rental contract explained: What residents and tourists must know

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Dubai’s Roads and Transport Authority (RTA) is reinforcing stricter rules for car rentals across the emirate, and it’s good news for both residents and tourists.

At the heart of this move is a mandatory unified contract that all rental companies must follow. This contract standardises how rental agreements work, clearly laying out the rights and responsibilities of both renters and rental offices in a transparent way.

“We have also organised a series of awareness workshops for companies operating in the car rental sector across the emirate to familiarise them with the contract’s provisions, obligations, and implementation procedures,” said Ahmed Mahboob, CEO of the Licensing Agency at RTA.

What this means for drivers

  • Same rules everywhere
    Whether you rent from a big brand or a small office, the same contract applies across Dubai, no more confusing or inconsistent terms.
  • Stronger consumer protection
    The contract ensures:
    • No hidden fees (like surprise toll charges)
    • No unfair charges during accident repairs
    • Mandatory refund of your security deposit within a set timeframe
  • Digital and secure process
    Rentals are handled through the Transport Activities Rental System (TARS), with:
    • Identity verification
    • OTP-based digital signatures
    • Secure, automated contracts
  • Proof of vehicle condition
    Photos are taken at pickup and return, protecting you from disputes over damage.
  • Better awareness for renters
    The system is designed to reduce complaints and help users, especially tourists, fully understand their rights before signing.

This move aligns with Dubai’s push to enhance trust and transparency in services, reinforcing its reputation as a well-regulated, customer-friendly destination.

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UAE warns drivers: Fines up to Dh2,000, 23 black points for risky driving during heavy rains

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Authorities across the UAE have issued a fresh warning to motorists, urging them to exercise extreme caution during ongoing unstable weather conditions. The reminder comes as part of efforts to enhance road safety and prevent accidents in high-risk areas such as valleys, flood zones, and near dams.

The UAE authorities emphasised that strict penalties are in place for violations during rainfall. Motorists found driving near valleys or flood-prone areas could face a fine of Dh1,000 along with 6 black points on their license.

More severe penalties apply to those who deliberately drive into flooded valleys, regardless of the water level or perceived danger. Offenders risk fines of up to Dh2,000, 23 black points, and a 60-day vehicle impoundment.

Additionally, authorities warned against obstructing emergency responders or traffic officials during adverse weather situations. Such actions could result in a Dh1,000 fine, 4 black points, and vehicle impoundment for up to 60 days.

Officials continue to urge drivers to prioritise safety, follow official advisories, and avoid unnecessary travel during severe weather conditions to prevent accidents and ensure smooth emergency response operations.


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