Country Profile
From The Report: Abu Dhabi 2015
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Abu Dhabi City hosts the UAE government, with the ruler of Abu Dhabi customarily serving as the president, while the ruler of Dubai serves as the country’s prime minister and vice-president. In mid-2013 Abu Dhabi’s population stood at an estimated 2.45m, with Emiratis making up 20.2% of the population and expatriates accounting for the remaining 79.8%. The economy has witnessed rapid expansion over the last 15 years with GDP seeing a five-fold increase since 2001 to reach an estimated $260bn in 2013 at current prices. While oil and gas remain the chief source of government revenues, diversification into other key sectors such as manufacturing, tourism, aerospace, defence and finance is reducing the emirate’s dependence on hydrocarbons. Trade relations between the GCC region and Asia continue to deepen, with trade volumes between China and the GCC, for example, topping the $100bn mark for the first time in 2011 and surpassing $150bn in 2012.

This chapter contains an interview from Sheikha Fatima bint Mubarak, Chairwoman, General Women’s Union, and Supreme President, Family Development Foundation; Lim Hng Kiang, Singapore Minister for Trade and Industry; and Yoon Sang-Jick, Korean Minister of Trade, Industry and Energy.

Articles from this Chapter

Overview

Abu Dhabi is a key member of the union
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Having seen a five-fold increase since 2001, Abu Dhabi’s GDP reached an estimated $260bn in 2013 at current prices. The hydrocarbons industry comprised 55% of output, a two-point drop in comparison to the year before, highlighting the increasing diversity of the emirate’s economy. Oil and gas are still the source of the vast majority of public revenue, which has been put to good use as the government rolls out a programme of diversification into sectors such as manufacturing, tourism,…

Interview

OBG talks to Sheikha Fatima bint Mubarak, Chairwoman, General Women’s Union; and Supreme President, Family Development Foundation
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Interview: Sheikha Fatima How do you assess the balance that has been struck between advancing the role of women and adhering to the values that govern Emirati society? SHEIKHA FATIMA: Every society has key pillars that define its route to development and the nature of its functions. The structure of a society is present across every stage of its growth. Customs, traditions and values, along with their spiritual, social and cultural dimensions, are at the very heart of a society’s composition.…

Analysis

Trade with Asia is growing and diversifying
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Following a difficult period for the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai saw the second-highest rate of freight growth in the entire Asian region. This was part of an emerging trend of the maturation of GCCAsia trade. A relationship that was once just based on energy demand is diversifying and the GCC is seen as a viable market for Asian goods and investment, a key transit point – given its developed infrastructure – for the…

Interview

Lim Hng Kiang, Singapore Minister for Trade and Industry: Interview
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Interview:Lim Hng Kiang What is the current state of economic relations between the GCC and Singapore? LIM HNG KIANG: Our relations are growing from strength to strength. The GCC and Singapore have long-standing ties that stretch many generations. As we move into the 21st century, our relations, including economic ties, are growing stronger. Indeed, Singapore traded more than $50.4bn worth of goods with the GCC in 2013, making the GCC states our fifth-largest trading partner. This is…

Interview

Lim Hng Kiang, Singapore Minister for Trade and Industry: Interview
OBG
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Interview:Lim Hng Kiang What is the current state of economic relations between the GCC and Singapore? LIM HNG KIANG: Our relations are growing from strength to strength. The GCC and Singapore have long-standing ties that stretch many generations. As we move into the 21st century, our relations, including economic ties, are growing stronger. Indeed, Singapore traded more than $50.4bn worth of goods with the GCC in 2013, making the GCC states our fifth-largest trading partner. This is…

Analysis

A deepening of relations between the GCC and Asia is on the horizon
OBG
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Trade relations between the GCC and Asian economies have been growing steadily for some time now. Recent developments suggest, moreover, that they are set to expand further over the next decade. While there are some risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of potential trade agreements, increased diplomatic engagement, and the possibility of new political and security arrangements. FREE TRADE AGREEMENTS:…

Analysis

A deepening of relations between the GCC and Asia is on the horizon
OBG
plus

Trade relations between the GCC and Asian economies have been growing steadily for some time now. Recent developments suggest, moreover, that they are set to expand further over the next decade. While there are some risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of potential trade agreements, increased diplomatic engagement, and the possibility of new political and security arrangements. FREE TRADE AGREEMENTS:…

Interview

Yoon Sang-Jick, Korean Minister of Trade, Industry and Energy: Interview
OBG
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Interview:Yoon Sang-Jick To what extent will relationships with GCC member states play a significant role in South Korea’s future energy security? YOON SANG-JICK: It has been a top national priority for South Korea to secure a stable supply of energy resources, as it is the fifth-largest oil importer and eighth-largest oil consumer in the world. As key energy allies and valuable partners, GCC member states have greatly contributed to South Korea's remarkable economic development – the…