The UAE has joined a group of 14 countries in an international initiative aimed at promoting “open and free” trade.
The move comes amid growing risks of a trade war due to US tariffs, economic fragmentation and heightened barriers to the global flow of goods.
The Future of Investment and Trade partnership is aimed at supporting inclusive growth, addressing existing and emerging trade issues, and enhancing foreign direct investment flows, the Ministry of Foreign Trade said on Wednesday.
It will focus on the future, address challenges and opportunities, and promote public-private dialogue, the ministry said.
US President Donald Trump’s tariff hikes on key trading partners have roiled markets, increased economic uncertainty and hampered companies' ability to plan ahead.
The global trade of goods is projected to grow 0.9 per cent in 2025, up from the 0.2 per cent contraction forecasted in April but down from the 2.7 per cent estimate before the US tariffs, the World Trade Organisation said in an August report.
A surge of imports in the US in the first quarter before anticipated tariff hikes contributed to the upwards revision to the forecast for 2025, the WTO said.
The FIT partnership's founding members are the UAE, Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Morocco, New Zealand, Norway, Panama, Rwanda, Singapore, Switzerland and Uruguay.
The 14 countries see the principles of free trade as “vital to our stability and prosperity”, the ministry said.
“Globally, measures that restrict trade risk fragmenting the global economy, dampening global economic growth, and heightening inflationary and unemployment pressures,” it added.
The members will collaborate on a range of trade topics, including the strengthening of supply chains, the removal of non-tariff trade barriers, helping investment and the adoption and integration of emerging technologies.
More countries will be invited to join the initiative.
The UAE continues to focus on growing its trade as part of its economic diversification strategy.
The country's non-oil foreign trade rose by nearly a quarter on an annual basis in the first six months of 2025. The value of non-oil foreign trade jumped to more than Dh1.73 trillion ($470 billion), double the level of five years ago.
In comparison, the average growth of global trade during the first half of this year was about 1.75 per cent.
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Director: Jon Favreau
Starring: Donald Glover, Seth Rogen, John Oliver
Rating: 2 out of 5 stars
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
KILLING OF QASSEM SULEIMANI
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
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If you go
The flights
Emirates flies from Dubai to Seattle from Dh5,555 return, including taxes. Portland is a 260 km drive from Seattle and Emirates offers codeshare flights to Portland with its partner Alaska Airlines.
The car
Hertz (www.hertz.ae) offers compact car rental from about $300 per week, including taxes. Emirates Skywards members can earn points on their car hire through Hertz.
Parks and accommodation
For information on Crater Lake National Park, visit www.nps.gov/crla/index.htm . Because of the altitude, large parts of the park are closed in winter due to snow. While the park’s summer season is May 22-October 31, typically, the full loop of the Rim Drive is only possible from late July until the end of October. Entry costs $25 per car for a day. For accommodation, see www.travelcraterlake.com. For information on Umpqua Hot Springs, see www.fs.usda.gov and https://soakoregon.com/umpqua-hot-springs/. For Bend, see https://www.visitbend.com/.
