UAE GDP to grow 12.7%

03 Apr 2011

(MENAFN) UAE Minister of State for Finance and Industry, Dr Mohammad Khalfan Bin Kharbash, stated that the country would succeed in reaching its target 12.7 percent climb in gross domestic product (GDP) to USD85.7 billion, reported Gulf News.

Bin Kharbash also said that the UAE would take steps to ensure the continuity of this economic growth such as attempting to ink a free trade agreement (FTA) with the USA.

The Minister pointed that the FTA would open many doors through which the UAE would benefit its economy, such as a freer access to markets in the USA, improving domestic industry, and providing the economy with a wider diversity.

It is worth noting that the latest report from the International Monetary Fund (IMF) showed the continuous growth in the economy of the UAE, which the country’s liberal economic policies helped achieve, as report stated.

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