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UAE's foreign trade to grow by 15 percent

Posted on Nov 29, 10:08AM | IANS

UAE's foreign trade will grow by 10 to 15 percent in 2012, Foreign Trade Minister Sheikha Lubna Al Qasimi has said.

India was the top trade partner of the UAE last year, as trade between the sides stood at USD 53 billion, followed by China at USD 14 billion.

The growth rate of UAE's foreign trade in 2011 was 23 percent against 14 percent in 2010, surging by 47 billion dirhams (over USD 12 billion), minister said.

The country's foreign trade policy focuses on the expansion of non-oil sector and boosting ties with its trade partners in five continents, she added.

She was speaking to foreign journalists at Grand Millennium Hotel in Abu Dhabi.