ABU DHABI, The value of the UAE's food and beverage exports grew by 26 percent in 2018 compared to 2017 while the value of its re-exports grew by 28 percent, according to Juma Mohammed Al Keet, Assistant Under-Secretary for Foreign Trade Affairs at the Ministry of Economy.
He stated this during a meeting organised by the Ministry of Economy in Dubai, attended by several national food companies, in cooperation with Emirates Food Industries.
During the meeting, Al Keet presented some key trade indexes achieved by the country in the food and beverage sector and stressed that the UAE ranks first in the Arab region in food and beverage trade, accounting for 18 percent of the region's total trade in food products, and 26 percent of its global food and beverage exports.
The sector accounted for 5.7 percent of the country's non-oil foreign trade in 2018, valued at over AED92 billion, which includes imports valued at AED62 billion, exports at AED15 billion, and re-exports at AED15.2 billion.
He also explained the current trends in the food and beverage trade and discussed cooperation between the ministry, national food companies and the group.
Al Keet then pointed out that the food and beverage sector is key to the current global economy, as exports in this sector account for eight percent of total international exports, noting that it plays a vital role in supporting the UAE's economy.
The meeting is an important platform for promoting communication between the ministry, producers, merchants and exporters in the sector, he said in conclusion.
Source: Emirates News Agency