The UAE is Australia's largest trading partner and second-largest source of investment in the Middle East, Justin McGowan, Commissioner General of Australia at Expo 2020 Dubai said, adding that annual trade between the two countries is valued approximately at $7.1 billion.
In a statement to Emirates News Agency (WAM), McGowan pointed out that about 17,000 Australians live in the UAE, and more than 250 Australian companies are based there. "We aim to promote trade and investment between Australia and the UAE as the foundation of long-term strategic relations," he said.
According to the Australian Department of Foreign Affairs and Trade, merchandise exports to the UAE were worth $4.1 billion in 2018-19 and were dominated by red meat and machinery, and automotive parts. Australian goods imports from the UAE were worth $2.1 billion in 2018-19 (mainly petroleum products).