Saudi-UAE non-oil trade surges to $196 bln in 15 years: FCA

The UAE-Saudi non-oil trade has reached AED 720 billion ($196 billion) since the establishment of the GCC Customs Union in 2003 until H1 2018, state news agency WAM reported, citing the UAE Federal Customs Authority (FCA) statistics.

The total UAE imports from the Kingdom reached AED 244.2 billion ($67 billion), while exports crossed AED 144.8 billion ($39.7 billion). The UAE re-exports totaled AED 330.9 billion ($90.6 billion) during the same period, the data revealed.

The UAE-Saudi Joint Determination of last year contributed to streamlining and increasing the flow of intra-trade through Al Bath'a and Al Ghoweifat border crossings and to facilitating the exchange of knowledge and expertise between the two countries.

Ali bin Sobeih Al Kaabi, chairman, FCA, re-affirmed the authority's determination to stamp out all obstacles and challenges obstructing the growth of intra-trade between the two nations.