UAE to grow trade ties in Asia and Africa

The United Arab Emirates will work on economic partnerships with eight countries to enhance trade as it repositions itself as a global hub for business.

The Gulf state will expand economic ties with countries including South Korea, Indonesia, Kenya, Ethiopia and Turkey, officials said in a media briefing on Sunday.

Earlier, Economy Minister Abdulla bin Touq said the UAE was seeking Dhs550bn ($150bn) of inward foreign investment over the next nine years and aims to be among the 10 biggest global investment destinations by 2030.

It will focus on investments from countries including Russia, Australia, China, and the UK.

Also read: UAE announces new initiatives, including visa changes and new data law