Chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet approved the National Agenda for Non-oil Export Development, an integrated framework for efforts to increase UAE's foreign trade, promote Emirati products and access new markets all over the world.
Sheikh Mohammed bin Rashid reaffirmed that the UAE is among the top twenty countries in foreign trade indicators and has a developed economic structure that is capable of coping with the changing global economy, stressing the continued support for the national economy to be among the top 10 economies in the world.
These remarks by Sheikh Mohammed came during the UAE Cabinet meeting, held yesterday (June 27)at Qasr Al Watan in Abu Dhabi, in presence of Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Sheikh Mohammed said: "We have adopted the National Agenda for Non-oil Export Development; a vital step aims at accessing 25 new markets. The UAE non-oil trade exceeds AED1.5 trillion ($408 billion)."
He added that non-oil sectors contribute more than 70 percent of the national economy, stressing that the UAE aims to increase exports by 50 percent in the coming years.
The agenda seeks to meet the needs of national companies and exporters, as well as take the necessary measures to reinforce the UAE leading position as regional and international hub for re-exports.
Among its objectives, the agenda also aims at increasing UAE exports by opening new international markets with the aim of supporting the country's foreign trade and enhancing the growth in 14 sectors to ensure greater presence of Emirati goods in global markets.
The cabinet also approved the National Manual for Measurement of Research and Development (R&D) Expenditures in government sector. The manual provides guidance on the measurement of financial and human resources for research and experimental development performed in the government sector.
The cabinet also adopted the empowerment policy to support people of determination during emergencies and crises. The policy aims at identifying and eliminating challenges and barriers created or accompanied by crises and emergency situations. It also seeks to provide adequate accessibility to all types of services and facilities, in addition to improve research and data to monitor, evaluate and strengthen systems to include people of determination.
The cabinet approved the amendment of the federal law on private health facilities, which aims to extend the adjustment period, a move that ensures business continuity in the sector.
The cabinet also approved the amendment of the federal law for tax procedures, which will further support the economic environment and the business community in the UAE.
Moreover, the cabinet approved a federal law on goods subject to non-proliferation controls, which aligns with the UAE’s vision in maintaining security and stability in the UAE and abroad, and aims to actively leverage control on sensitive goods and engaging in partnerships on both national and international levels.
The cabinet adopted a decision regarding marine wrecks and abandoned ships, which will help better organise the recovery of abandoned ships and shipwrecks located in the country’s territorial waters or ports, to ensure the safety of maritime navigation.
The cabinet also approved a decision regarding nurseries and creches existing within government entities to ensure that on-site nurseries playing its role in supporting working women. The Ministry of Education and local educational authorities will carry out the tasks of licensing, evaluating and monitoring these nurseries.
The cabinet approved the outputs and recommendations submitted by the committee established to study the electronic link system for education data. The education data system collects and analyses data related to education in the UAE and provides comprehensive sets of data to support decision making and the ongoing development of the sector.
Source: TradeArabia News Service