RIYADH: UAE is close to signing off trade deals with Indonesia and Israel as part of a plan to secure billions in overseas investment, according to its foreign trade minister.
Speaking to Bloomberg, Thani Al Zeyoudi revealed another country was close to reaching an agreement with the UAE, saying: “We hope that we are going to conclude with Colombia by the end of next month as well.”
This follows previously announced plans to draw up to $150 billion in foreign direct investments from global peers, in a bid to position the nation as a global business hub.
During the first nine months of 2021, the UAE ranked first in the Arab world and third globally in attracting foreign investment, with projects with an accumulated value of 16 billion dirhams ($4.35 billion).
Most recently, it partnered with India, aiming to more than double non-oil trade to at least $100 billion in the coming five years, Bloomberg reported.
Morocco, Israel sign trade cooperation deal