Hormuz really matters but the UAE has more than one gateway, economy minister says
The gateway to the Gulf is more than one port and certainly more than one road. That is the message from Abdulla bin Touq, Minister of Economy and Tourism. “[The Strait of] Hormuz really matters and it will keep on mattering,” he said in an exclusive interview on the sidelines of the Rise Summit in Dubai . “It's really important to really focus on Hormuz as well, to have it as a gate.” It is a…
The Strait of Hormuz, the narrow waterway connecting the Arabian Gulf to the Persian Gulf, holds significant importance for global trade. However, the UAE, which sits at the eastern end of the strait, has multiple entry points, according to Economy Minister Abdulla bin Touq. In an interview, he emphasized that the strait remains crucial but is not the sole route for trade with the UAE.
The country has been actively diversifying its supply chains through the development of regional logistics corridors and the construction of new ports and pipelines. The UAE's "Zero Hormuz" strategy aims to reduce reliance on the strait and strengthen its eastern gateway at Khor Fakkan and Fujairah. Despite the decline in oil and gas traffic since the Iran war began, the country is optimistic about its future, with tourism expected to rebound and contribute to economic growth.
The IMF forecasts a 3.9% contraction this year, followed by a 7.7% rebound in 2027, driven by non-oil businesses. The UAE's economy is being managed strategically, with tourism as the top priority and the government investing in infrastructure and capital to support growth.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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