The United Arab Emirates (UAE) is seeking to reduce the dependence on its GDP (gross domestic product) on oil production. Owners of the world's seventh largest oil reserve, the country intends to invest more in industries such as petrochemicals and space. The information is from the Minister of Foreign Affairs and International cooperation, Abdullah bin Zayed bin Sultan Al Nahyan.
According to the Valor Economico newspaper, the country's intention is to make the share of GDP from non-oil sectors reach 64% by 2030, while the oil and exports of the product are 36%, different from 49% current. In addition, the current scenario of oil has led the Arabs to become more interested in renewable energies.
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