Sheikh Mohammed bin Rashid Approves State Agenda for Entry into 25 New International Markets

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE, Prime Minister, and Ruler of Dubai, today chaired a Cabinet meeting at the Palace of the Nation in Abu Dhabi, where he approved the state's agenda for entering 25 new international markets for foreign trade. His Highness tweeted, "I chaired a Cabinet meeting today at the Palace of the Nation in Abu Dhabi, during which we approved the state agenda to enter 25 new international markets for our foreign trade. Our non-oil trade exceeds 1.5 trillion dirhams annually, and our logistics network covers 400 global cities. Our country ranks among the top 20 in foreign trade competitiveness indicators." He added, "Our non-oil economy represents over 70% of our national economic output... Our goal is to increase our national exports by 50% in the coming years... We are working as a unified team, both federally and locally, to elevate our national economy to new horizons. The UAE will remain a global economic capital for decades to come, God willing." He continued, "We also approved a national measure for research and development spending today in the Cabinet. The UAE spends 1.3% of its GDP on research and development, making it the leading Arab country in this field... Our goal is to compete globally in the future. Research and development drive the knowledge economy that we seek to establish." He added, "We also approved a set of legislative amendments in the areas of emergency response, disasters, and the health, education, and economic sectors... The goal is to achieve the best quality of life globally based on the most diverse and robust economy."