UAE: The trade volume between Ajman and Qatar has surged by a substantial 68% highlighting the robust economic ties between the two nations. According to a recent press statement, the total trade volume reached 521 million dirhams ($141.86 million) until the third quarter of 2023, compared to the same period in the previous year. This surge is attributed to Ajman’s increased exports of ships, boats, iron, steel products, and mineral oils to Qatar.

Mohamed Ali Al-Janahi, executive director of the Member Support Services Sector at the Ajman Chamber of Commerce and Industry, expressed optimism, stating, “The volume of non-oil trade exchange between Ajman and Qatar reached 31 billion dirhams in 2022, compared to 14 billion dirhams in 2021, representing a growth rate of 124%.”

Beyond the surge in trade with Qatar, Ajman is actively diversifying its economic partnerships. Al-Janahi revealed plans for developing trade with Bahrain, stating, “The economic relations between the UAE and Bahrain are witnessing annual growth that reflects the depth of the fraternal relations between the two countries.”

He elaborated that Ajman is keen on providing an attractive investment environment for Bahraini business owners, noting an 8 percent growth in the Ajman Chamber’s membership from Bahraini business owners until the third quarter of this year.

According to him, non-oil trade between Ajman and Bahrain reached 25.7 billion dirhams in 2022, marking an increase from 23.7 billion dirhams in the previous year. Furthermore, Ajman’s exports to Bahrain witnessed a commendable 27% rise until the third quarter of this year compared to the same period in 2022.

Additionally, he highlighted the continuous annual increase in the value of investments in both the UAE and Bahrain, particularly in light of the diverse available opportunities.