The Abu Dhabi Chamber of Commerce and Industry, in collaboration with Etihad Credit Insurance (ECI), has produced a research paper that shows a 23.8% year-on-year (YoY) rise in the issuance of certificates of origin from January to May 2024, as compared to the same timeframe in 2023. In a statement released on Tuesday, the chamber noted that this substantial increase mirrors the growth in Abu Dhabi's exports and highlights the efforts to enhance trade opportunities and bolster the UAE's international trade presence. The paper identified the top 10 export markets for Abu Dhabi Chamber members, which include Saudi Arabia, Kuwait, Oman, Qatar, the USA, Egypt, Bahrain, Jordan, Iraq, and India.

The research also pointed out that the chamber's initiatives have led to a rise in local business activity compared to 2023, marked by an increase in the number of new industrial companies registered with the Abu Dhabi Chamber. Notably, the transportation and storage sector saw a significant 78% increase from January to May 2024 compared to the same period in 2023. Furthermore, the paper highlighted that by the end of 2023, the total value of the UAE's non-oil foreign trade with countries under Comprehensive Economic Partnership Agreements (CEPA) exceeded AED390 billion.

The paper affirmed that the CEPAs have played a crucial role in boosting the UAE's economic growth, improving access for Emirati businessmen to new international markets, expanding Abu Dhabi's export portfolio, and easing the entry of Emirati exports into major global markets, particularly India, Indonesia, Turkey, Korea, and Malaysia. These exports include a range of products such as electronic equipment, machinery, metals, medicine, vegetable oils, and more. The paper also revealed that the UAE's non-oil exports now reach a wide array of global destinations, with Asia leading as the top export region, followed by the European Union and North America. Other significant regions include the European Free Trade Association (EFTA) and Africa, along with notable growth in exports to South America, Eastern Europe, Oceania, and Central America.

As of July 2024, the UAE has entered into 12 CEPAs with countries across regional and global scales, with ongoing negotiations to form new agreements with key and promising markets.