Trade between the UAE and the European Union (EU) is expected to be stable at its 2011 levels due to economic recession prevailing in Eurozone, said economists.
Dr. Numan Ashour, a chief economist and analyst at the CNBC Arabia, told the Gulf News that the volume of trade between the UAE and the EU in 2012 will be similar to that in 2011 at around Dh147 billion.
Dr. Mohammad Amerah, economic adviser at Sharjah Chamber of Commerce and Industry, told the Gulf News that the trade exchange has been affected by the high oil prices and the declining exchange rate of the euro.
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