Gov’t Accelerates Import Diversification Strategy, Says Economic Minister

The government has intensified efforts to diversify import channels as part of a broader strategy to protect the national economy from the effects of the ongoing conflict in the Middle East.

Minister of Economic Development and Trade Mohamed Saeed outlined the accelerated initiative during a weekly press conference held by the national ministerial committee established to mitigate the impact of the conflict. He emphasised the administration’s focus on ensuring stable access to basic food items and other essential goods.

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The minister noted that maritime imports have not yet experienced significant disruption, but stated that proactive measures are being taken to reduce exposure to potential future risks. These include identifying alternative trade partners and transport routes to strengthen supply chain resilience.

He highlighted increased cargo movement and the resumption of more direct flights from the United Arab Emirates since 4 March as a positive development supporting supply continuity.

The government is currently working to expand trade ties with key countries, including India, China, Thailand, Malaysia, Vietnam and Indonesia, with the aim of establishing alternative supply lines for essential commodities.

In addition to food security, attention is also being directed towards challenges in the construction sector. Discussions are ongoing with sea vessel operators through the State Trading Organization to ensure the smooth flow of materials and logistics.

Further measures include plans to expand national fuel storage capacity, alongside continued monitoring of global commodity price trends to guide domestic policy responses.