UAE boosts links with Saudi Arabia

10/01/2012 - Northern Emirates Property & Investment News Posted by Bob Brunskill
UAE boosts links with Saudi Arabia

Property investors in the Middle East will be among those interested to learn that the UAE is now Saudi Arabia's second largest market.That is according to the latest report by the National Commercial Bank (NCB), which showed that total exports by the largest Arab economy increased by almost 34 per cent year-on-year in the third quarter of 2011.Shown to Emirates 24-7, the report also showed that imports fell by just three per cent during the same period.Indeed, the upward trajectory of Saudi Arabia's dealings with the UAE, mean the gap between the country and China is being closed.According to the data, China accounts for 13 per cent of total exports, while the UAE now makes up ten per cent, followed by Singapore at seven per cent.The UAE's global trade links have been given a significant boost over the past few years, with travel paths, commercial ties and investment opportunities on the rise.Indeed, businesses are relocating to the UAE at an increased rate, boosting the nation's credentials as a global commercial hub.