The United Arab Emirates is rapidly eclipsing Hong Kong and emerging as a credible rival to Singapore as Asia’s most dynamic trading hub, thanks to an ambitious post-pandemic campaign of economic diplomacy.
Defying global headwinds from war and instability across its own region, the UAE’s non-oil trade almost doubled between 2021 and 2025 to reach 3.8 trillion dirhams (US$1.03 trillion), Prime Minister Mohammed bin Rashid al-Maktoum announced on January 31.
That surge – powered by an aggressive outreach to emerging markets and strategic investment in logistics – has already fulfilled 95 per cent of targets once set for 2031, according to Maktoum, who is also the UAE’s vice-president and ruler of Dubai, the most populous emirate.
“Our investment environment is complete, our international partnerships have doubled, our partnerships with the private sector have been strengthened, and global confidence in the UAE has been firmly established,” he said in a statement.
Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum (centre), also UAE’s prime minister and vice-president, attends the World Governments Summit in Dubai on February 3. Photo: AFPMuch of the growth has been driven by comprehensive economic partnership agreements – bilateral free trade deals aimed squarely at the Global South.