Economic Integration Committee reviews UAE’s strong 2024 economic performance and explores collaboration plans to strengthen business environment

H.E. Bin Touq: “Thanks to the forward-looking vision of the wise leadership, the national economy continues to achieve exceptional growth results. The efforts of local economic development departments have played a significant role in enhancing the UAE’s economic competitiveness.”

 The Economic Integration Committee held its fourth meeting of 2025, chaired by H.E. Abdulla bin Touq Al Marri, Minister of Economy, and with the participation and membership of H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. The meeting brought together Directors-General of local economic development departments across all seven emirates.

The Committee reviewed the UAE’s strong economic performance in 2024, highlighting its significant role in accelerating economic diversification and enhancing the nation’s global business and investment appeal. The session also included a special report evaluating the progress made in implementing recommendations from the Committee’s third meeting earlier this year.

Bin Touq asserted that the UAE economy continues to deliver outstanding growth results across multiple sectors, thanks to the forward-looking vision of the wise leadership. “In 2024, the non‑oil GDP grew by 5 per cent to AED 1.342 billion, while non‑oil sectors now account for 75.5 per cent of the total GDP. This achievement underscores the success of the UAE’s economic diversification policies and its adaptability to the rapid changes in the global economy,” H.E. added.

During the meeting, H.E. said, “The unified efforts of the Committee and the local departments of economic development across all seven emirates have been instrumental in achieving these remarkable results and boosting the UAE's economic competitiveness both regionally and globally. We remain committed in our resolve to developing modern economic legislation and regulatory frameworks that foster a dynamic business environment. Our goal is to position the UAE as a global leader in proactive legislation for emerging economic sectors by the next decade, in line with the ‘We the UAE 2031’ vision.”

The Committee also reviewed updates on the integration of federal and local efforts to develop cohesive economic legislation. The collaboration supports the UAE’s ambition to transition into an innovative, knowledge-based economic model, delivering impactful transformations in competitiveness and investment attraction.

Additionally, the Committee discussed the country's mutual evaluation process related to anti‑money laundering and combatting terrorism financing, acknowledging its critical role as a key driver of the national economic reputation both regionally and globally. This evaluation aims to identify risks, enhance policies, ensure adherence to international standards, boost efficiency, and strengthen transparency for the global community and the UAE's business sector. The meeting also examined progress of the operational plan for company registrars, which reflects a coordinated federal‑local government effort to achieve national objectives and reinforce the ultimate beneficial ownership procedures for private sector entities.

The Committee further reviewed the Ministry of Economy’s efforts to cultivate a creative culture and deliver comprehensive intellectual property (IP) protection for musicians and artists, particularly through the issuance of collective music management licenses. These licenses introduce transparent mechanisms that ensure financial fairness for artists and creatives through revenue distribution and the transparent collection and distribution of copyrights. This initiative bolsters the competitiveness of the UAE's music industry and positions the country as an attractive global destination for cultural and creative endeavors.

The Committee also reviewed national initiatives aimed at protecting UAE products through the implementation of the Geographical Indications (GI) system, which unlocks new opportunities for local industries in international markets. This initiative preserves the cultural identity of UAE products, enhancing their visibility in global markets, and transforming them into economic assets that contribute to developing local communities and enhancing economic diversification.