Significant growth in non-oil trade between Ajman, UAE, and Qatar demonstrates strengthening economic ties.

The third quarter of 2023 has seen a substantial 68 percent increase in trade volume between Ajman, United Arab Emirates (UAE), and Qatar.

The surge has brought the total trade value to an impressive QAR 1.88 billion ($141.86 million), marking a significant rise from QAR 1.12 billion in the same quarter of the previous year.

Mohamed Ali Al-Janahi, the Executive Director of the Member Support Services Sector at the Ajman Chamber of Commerce and Industry, confirmed this growth. Al-Janahi highlighted the importance of Ajman’s export products in this trade relationship, notably ships, boats, iron and steel products, and mineral oils.

This uptick is part of a broader pattern of deepening economic, investment, and trade relations between the UAE and Qatar.

The non-oil trade exchange between these two nations reached new heights last year, recording a staggering growth of 121.4%. From QAr 14 billion in 2021 to QAR 31 billion in 2022.

Reflecting on historical and cultural connections, this growing trade relationship contributes significantly to a stable and prosperous GCC.

The UAE Ministry of Economy’s data showed that Qatari investments in the UAE stood at QAR 15.53 billion, with 1,475 Qatari trademarks registered in the UAE.

Additionally, there were eight Qatari commercial agencies and 14 Qatari companies operating in the UAE.

Qatar’s investments in the UAE are diversified, spanning sectors such as finance, insurance, manufacturing, real estate, and hospitality, among others. Conversely, the UAE’s investments in Qatar total an impressive QAR 104.85 billion.

These investments cover a wide range of sectors including construction, aluminium, pharmaceuticals, energy, and retail, as well as significant involvement in shopping, entertainment, real estate, and energy projects in Qatar.