The UAE and Croatia are enhancing their economic relationship through a recent meeting between UAE Minister Dr. Thani bin Ahmed Al Zeyoudi and Croatian Minister Ante Šušnjar. Their discussions were centered on discovering new opportunities for trade and sustainable development between the two countries. Dr. Al Zeyoudi engaged with Šušnjar during an official visit to Zagreb.
Exploring collaborative opportunities
During their discussions, the two ministers, accompanied by Ahmed Alattar, the non-Resident Ambassador of the UAE to Croatia, concentrated on identifying ways to create new pathways for improved trade and economic collaboration between both nations. They examined potential collaborative areas and initiatives aimed at promoting sustainable economic development, placing particular emphasis on fostering private sector partnerships in key sectors such as agriculture, manufacturing, renewable energy, infrastructure, transportation, and tourism.
In #Croatia's #Zagreb, Minister of Economy and Sustainable Development Ante Šušnjar and I discussed the many synergies between our nations’ economies and how to maintain rapid growth in our bilateral non-oil trade, which grew 44.8% in H1 2024 to reach US$78.9 million.🇦🇪🇭🇷 pic.twitter.com/Nvn45L5TP3
— د. ثاني أحمد الزيودي (@ThaniAlZeyoudi) December 23, 2024
Streamlining supply chains
The meeting also tackled strategies to streamline supply chains, which would contribute to mutual prosperity and long-term economic resilience. Dr. Al Zeyoudi underscored Croatia’s importance as a strategic ally in the UAE’s initiatives to deepen economic connections with Europe. He remarked, “Strengthening global trade and economic ties remains at the core of our strategic priorities, enhancing the UAE’s position as a pivotal player in the global economy. Our commitment to working with key partners such as Croatia ensures sustainable growth and supports trade frameworks that deliver mutual benefits.”
Highlighting growth potential
Dr. Al Zeyoudi further noted, “The substantial growth in non-oil trade with Croatia showcases the vitality of our economic relationship and paves the way for broader trade and investment opportunities. Key sectors such as manufacturing, renewable energy, and logistics hold immense potential for collaboration, advancing our shared vision for economic progress.”
Acknowledging bilateral relations
Ante Šušnjar expressed appreciation for the UAE’s proactive role in nurturing bilateral relations, highlighting the wealth of opportunities this partnership presents for both economies. He stated, “The UAE-Croatia partnership serves as a successful example of how strong economic cooperation can drive mutual growth and generate lasting benefits for both nations.”
Measuring trade growth
The discussions also brought to light the impressive growth of non-oil trade between the two countries, which saw an increase of 4 percent from $107 million in 2022 to $110.7 million in 2023. A significant factor in this growth was a remarkable 265 percent rise in re-exports from the UAE, amounting to $15.65 million, along with a 12 percent increase in UAE exports to Croatia, which reached $43.03 million.
Continuing momentum in trade
This momentum has continued into the first half of 2024, with bilateral trade expanding by 44.8 percent compared to the same period in 2023, totaling $78.9 million. This robust growth was driven by notable increases in imports, which surged by 84.2 percent to $50.1 million, and re-exports, which rose by 83.4 percent to $8.4 million.
Vision for sustainable development
This visit underscores the UAE’s forward-looking vision to establish itself as a global leader in trade and investment while strengthening partnerships with European nations to promote sustainable development and achieve shared economic objectives.
