A valuable trade partner

The Kingdom of Sweden and the UAE have a long standing relationship of trade. With its yearly imports worth roughly 5 to 7 billion SEK between 2014 to 2018, the UAE is an important trade partner to Sweden and its location makes it a key business hub in the GCC region. Its main exports to the UAE include iron ore, pharma, paper products, chemical products and telecommunication.

There are around 200 Swedish companies operating in the UAE, including Spotify, ABB, Atlas Copco, Ericsson, Scania, Volvo, IKEA, H&M, Sandvik, AXIS Communication, Getinge, SOBI, AstraZeneca and Electrolux to mention a few.

Speaking on the progressive growth in exchange of goods and services between the two countries, Massoud Biouki, Trade Commissioner of Sweden to the UAE and Market Area Director Middle East, said, “Having strong links across the Middle East, Africa and Asia, Dubai is an ideal destination for Sweden as a re-export hub in order to diversify and expand trade opportunities with fast growing economies outside the European Union. In addition, the ease of doing business makes it a fertile space for investment and growth. The fact that it is easier to attract talent, interests many companies to establish their regional hub in the UAE.”

In my capacity as the Trade Commissioner of Sweden to the UAE, I truly believe a common ground exists to further increase trade relations between Sweden and the UAE.

Massoud Biouki, Trade Commissioner of Sweden to the UAE & Market Area Director Middle East

He added, “In my capacity as the Trade Commissioner of Sweden to the UAE, I truly believe a common ground exists to further increase trade relations between Sweden and the UAE.”

Moving forward with Expo 2020 Dubai just around the corner, future plans of trade and growth between the two nations have been positively influenced.

Biouki said, “The Swedish theme for Swedish participation is “co-creation for innovation”. Sweden, through its participation in Expo 2020 Dubai as the global unique event, will promote sustainable development, innovation and technology, significant goals that Sweden is working to achieve. The triple helix model of innovation, which refers to a set of interactions between academia, industry and governments, to foster economic and social development are the fundamentals for creating innovative society, which will be showcased at Expo2020.

“Climate change — the great challenge of our time — also offers great opportunities for change and modernisation. This is not just an environmental issue — the green transition is part of our policy for competitiveness, job creation and welfare. Sweden’s transformation towards sustainable and resilient societies is well under way and is taking place throughout the country. Sweden is on target to reach SDG 6 Clean water and sanitation, SDG 7 Affordable and Clean energy, SDG 11 Sustainable cities and communities, and SDG 15 Life and land to name a few.”

There is a strong value system alignment between Sweden and the UAE that leads to this long-term growth plan.

“The UAE, with its ambitious leadership and vision to transform its economy into a knowledge-based economy in areas like health, education, innovation, scientific research, clean energy, technology, IT and SMEs, is very much in line with Sweden’s areas of strength and competitiveness. Sweden is driving to become a strategic partner with the UAE in order to deliver on the UAE’s vision,” concluded Biouki.