A UAE delegation comprising Dr. Thani bin Ahmed Al Zeyoudi, minister of State for Foreign Trade, and Ahmed Al Sayegh, minister of State, has traveled to Brussels, Belgium, for discussions with high-ranking European Union (EU) officials and members of the Belgian government. The visit seeks to enhance economic ties, promote investment opportunities, and identify areas for further collaboration.
The EU stands as the UAE’s second-largest global trade partner, with a shared non-oil trade value of $67.6 billion in 2024, marking a 3.6 percent increase from 2023 and an 18.1 percent rise compared to 2022. Currently, the EU accounts for 8.3 percent of the UAE’s total non-oil foreign trade.
Talks with EU officials
During discussions with Maros Sefcovic, EU commissioner for Trade and Economic Security, Al Zeyoudi examined the critical factors driving the UAE’s robust trade relations with the EU, particularly in advanced manufacturing, healthcare, and e-commerce. Both parties also pinpointed opportunities for boosting investment flows into high-growth sectors, notably logistics and renewable energy.
Strengthening economic and business relations
Emphasizing the profound economic and business connections between the UAE and the European Union, Al Zeyoudi remarked: “The European Union is a highly valued trade and investment partner for the UAE, with ties that continue to deepen across a range of sectors. This is evidenced not only by increasing trade exchanges but also through strategic collaboration in areas such as food security, energy transition and advanced technology. Both sides believe there is significant potential to maintain the positive trajectory of bilateral trade and investment flows – both on an EU-wide level and with individual member nations. This week’s meetings have underlined the benefits of doing so.”
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Navigating a challenging global economy
For his part, Ahmed Al Sayegh stated that forging closer ties is vital for navigating a challenging global economy. “The UAE has long recognized the importance of constructive dialogue, particularly on matters of trade and global supply chains. Both the UAE and the EU are committed to ensuring that trade remains open and accessible, and this week’s meetings have enabled us to identify areas of collaboration that can preserve the free flow of goods and services between our economies. We look forward to building on these foundations and ensuring we can deliver prosperity for both our peoples.”
Roundtable discussion on trade policy
Al Zeyoudi also took part in a roundtable discussion on UAE trade policy at the European Policy Centre (EPC) alongside Fabian Zuleeg, chief executive and chief economist of the EPC. They addressed the importance of maintaining open, rules-based trade. During the session, Dr. Thani underscored the extensive advantages of the UAE’s Comprehensive Economic Partnership Agreement (CEPA) program, through which the UAE has concluded 27 deals to date. He also highlighted the prospects for further collaboration between the UAE and the EU in crucial sectors such as food security, advanced manufacturing, healthcare, logistics, and artificial intelligence.
Financial sector collaboration
Al Sayegh and Al Zeyoudi conducted a bilateral meeting with Maria Luis Albuquerque, EU Commissioner for Financial Services and Financial Stability, where they discussed the pivotal role of the financial sector in facilitating global trade. The two sides emphasized strategies to enhance small businesses’ access to supply chains, reduce trade barriers, and improve cross-border payments through financial technology solutions, including blockchain and decentralized finance.
Meetings with Belgian officials
While in Brussels, Dr. Thani Al Zeyoudi and Ahmed Al Sayegh also met with senior officials from the Belgian government, including Maxime Prévot, deputy prime minister and minister of Foreign Affairs; Theo Francken, minister of Foreign Trade; Annelies Verlinden, minister of Justice of the Kingdom of Belgium; and David Clarinval, deputy prime minister and minister of Employment, Economy, and Agriculture. Bilateral non-oil trade between the UAE and Belgium reached $4.7 billion in 2024, and both parties agreed to create additional pathways for cooperation, particularly in sectors such as energy, logistics, and manufacturing.
Al Zeyoudi was accompanied in Brussels by Ahmed Al Sayegh, minister of State; Saeed Al Hajeri, assistant minister for Economic and Trade Affairs; and Juma Al Kait, assistant under secretary for Foreign Trade Affairs. The Brussels visit, along with the UAE’s expanding economic ties with the European Union, highlights the nation’s forward-looking vision to solidify its standing as a global leader in trade and investment by enhancing partnerships with all 27 member states of the bloc.
