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03.03.25 12:26

Economy

UAE-India trade reaches US$65 billion in 2024 with 20.5% growth

India remained the leading destination for the UAE’s non-oil exports in 2024

The United Arab Emirates' non-oil trade with India surged by 20.5 per cent in 2024, reaching over US$65 billion compared to US$54 billion in 2023. This is reported by Emirates News Agency (WAM), a partner of TV BRICS.

The sharp rise in non-oil trade, joint ventures, and mutual investments aligns with the continued implementation of the Comprehensive Economic Partnership Agreement (CEPA), which enters its third year on 1 May. The agreement has played a crucial role in fostering sustainable growth across various sectors, the experts said.

According to the source, India remained the leading destination for the UAE’s non-oil exports in 2024, accounting for 13.5 per cent of total exports. The volume of these exports witnessed a 75.2 per cent increase compared to 2023, highlighting the strengthening economic ties between the two countries.

Photo: iStock

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Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

Ferdinand Marcos

President of the Republic of the Philippines

"First, peace, security and stability. [...] We need our joint efforts to contribute to peace and security and to respond promptly to all threats. Second, a more dynamic economic partnership. Our areas of cooperation in trade are developing. We need to act more ambitiously and decisively in order to facilitate trade, economic flows and the expansion of the business community. [...] And third, perhaps one of the most important areas, is our peoples, grants, student exchanges, academic partnerships and tourism. [...] The relationships that are being built between our countries are reflected in the summit declaration, and they provide what policy alone cannot achieve"

Anwar Ibrahim

Prime Minister of Malaysia

"The relations in the last few years have been remarkable. We have seen impressive development, and my visit was – you were fantastic. We see the enormous role that Russia can play not only in Malaysia but also in the developing world, ASEAN and the rest. We are exploring this halal economy and finance. We are now almost finishing the visa abolition arrangement. [...] And then you have also agreed to these flights for tourism, for trade, and connectivity between Malaysia, Moscow, Kazan, and other cities in Russia"

Vladimir Putin

President of the Russian Federation

"This forum, which has brought together leading representatives of the business communities of our country and the ASEAN member states in the hospitable capital of Tatarstan, Kazan, is of particular importance. This year marks the 35th anniversary of Russia–ASEAN relations. During this period, we have accumulated substantial experience in multifaceted cooperation, established strong ties, including between the Association’s Business Advisory Council and the Russia–ASEAN Business Council, and created a solid foundation for the future"

Subrahmanyam Jaishankar

India’s External Affairs Minister

"As Chair, I thank each delegation for their presence and continued commitment to strengthening cooperation within the BRICS framework. […] Development issues remain central. Many countries continue to face challenges on energy, food, fertiliser and health security, as well as access to finances. BRICS can help them respond more effectively. Economic resilience is also key. Reliable supply chains and diversified markets are its essential components. We must focus on both"

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