UAE-Saudi non-oil trade at $114 bln in five years: Al Mansouri

23/09/2019 Argaam

 

The value of non-oil trade between the UAE and Saudi Arabia has reached to AED 417.6 billion ($113.71 billion) over the past five years, UAE’s state news agency WAM reported, citing Sultan bin Saeed Al Mansouri, Minister of Economy.

 

In 2018, the non-oil trade exchange between the two countries was valued at AED 107.4 billion, up 35 percent from AED 79.2 billion in 2017.

 

Al Mansouri said the UAE is at the forefront of investing countries in Saudi Arabia with a total value of more than AED34 billion.

 

On the other hand, Saudi direct investments in the UAE exceeded AED 16 billion, the minister said, pointing out that there are 4,004 Saudi trademarks registered in the UAE, 73 commercial agencies and 26 companies registered in the country.

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