Overview of Bilateral Trade
In 2018, the UAE was Taiwan's 18th largest trading partner. Trade between Taiwan and the UAE accounted for 0.9% of Taiwan's total trade. Taiwan’s exports to the UAE comprised 0.37% of Taiwan's total exports, or US$1.25 billion, while Taiwan's imports from the UAE comprised 1.62% of total Taiwan’s total imports, or US$4.64 billion. Bilateral trade between Taiwan and the UAE totaled US$5.9 billion in 2018 for an increase of 13.38% over the previous year. This included an decrease of 6.29% in exports to the UAE and an increase of 20.13% in imports from the UAE.
The five main exports from Taiwan to the UAE were petroleum oil, telephone sets, digital cameras and video camera recorders, motor cars, and storage devices. Taiwan’s main imports from the UAE were petroleum oil, aluminum, and steel.
Overview of Bilateral Investment
According to statistics from the Investment Commission of the Ministry of Economic Affairs, 16 UAE direct investment (FDI) projects were approved from 1952 to 2018 for a total amount of US$3.32 million. The major UAE investments in Taiwan were in electronic parts and component manufacturing, and scientific and technical activities.
As for Taiwan’s outward investment in the UAE, 10 applications were approved from 1952 to 2018, which amounted to US$7.07 million. Taiwan’s main investments in the UAE were in wholesale and retail, financial services and insurance, and hospitality.
The UAE has remained open and free in order to attract investors and business. The UAE government has consistently committed to pro-business and liberal economic policies that include the protection of intellectual property rights. Taiwanese businesses could take advantage of the UAE's well-developed infrastructural facilities and incentives, as well as explore opportunities for business cooperation, especially in the high-tech industry. In addition, our two sides could further expand throughout the Middle East market, form long-lasting relations, and gain mutual benefits.