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UAE and Croatia explore opportunities to bolster bilateral economic and trade relations

UAE-Croatia non-oil trade increased 44.8% in H1 2024, reaching $78.9 million

The UAE and Croatia are working towards boosting their bilateral trade, increasing the country’s engagement with Europe.

Non-oil trade between the two countries increased by four per cent from $107 million in 2022 to $110.7 million in 2023. A key growth driver was a significant 265 per cent rise in re-exports from the UAE, totalling $15.65 million, alongside a 12 per cent increase in UAE exports to Croatia, which reached $43.03 million.

This momentum carried forward into the first half of 2024, with bilateral trade expanding by 44.8 per cent compared to the same period in 2023, totalling $78.9 million. The robust growth was driven by remarkable increases in imports, which surged by 84.2 per cent to $50.1 million, and re-exports, which grew by 83.4 per cent to $8.4 million.

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, met Ante Šušnjar, Croatia’s Minister of Economy and Sustainable Development, during a visit to Zagreb. Discussions between the two ministers, who were joined by Ahmed Alattar, non-Resident Ambassador of the UAE to Croatia, focused on means to unlock new pathways for enhanced trade and economic cooperation between the two nations.

The two ministers explored potential areas for collaboration and initiatives to promote sustainable economic growth, with an emphasis on the importance of fostering private sector partnerships across priority sectors including agriculture, manufacturing, renewable energy, infrastructure, transportation, and tourism. The meeting also addressed strategies to streamline supply chains, which will help drive mutual prosperity and long-term economic resilience.

Al Zeyoudi highlighted the significance of Croatia as a strategic partner in the UAE’s efforts to deepen its economic engagement with Europe. He said: “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.”

He added: “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.”

Ante Šušnjar welcomed the UAE’s proactive role in fostering bilateral ties, commending the depth of opportunities that this partnership brings to both economies. He noted: “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.”