UAE Champions Global Economic Growth Through Free Trade, Investment

Economic officials have recently underscored the pivotal role of the United Arab Emirates (UAE) in bolstering the free movement of trade and investment, which is crucial for fostering global economic expansion. Their commitment to enhancing international cooperation and forging partnerships aimed at development and prosperity was also emphasized. These statements were made to the Emirates News Agency (WAM), highlighting the UAE's successful efforts in broadening its network of trading partners globally through comprehensive economic partnerships.

The UAE has inked 10 comprehensive economic partnership agreements (CEPA) with strategically significant countries across four continents, marking a significant leap in expanding its foreign trade network. This move is instrumental in augmenting trade and investment flows, thereby boosting global economic growth. The Abu Dhabi Ministerial Declaration, unveiled at the end of the 13th Ministerial Conference of the World Trade Organisation (WTO), underscores the UAE's leading initiatives in enhancing communication among WTO members and propelling momentum towards a more affluent and sustainable future for global trade.

The declaration also garnered international consensus on achieving economic development. The 13th WTO Ministerial Conference concluded with the adoption of the Abu Dhabi Ministerial Declaration, a landmark document that introduces new trade agreements and decisions aimed at extending the benefits of the global trading system to more countries worldwide.

Sanad Al Meqbali, Chairman of the Emirates Entrepreneurship Association, lauded the UAE's significant contribution to promoting the free flow of trade and investment. He highlighted the UAE's staunch support for the multilateral trading system, which plays a vital role in driving growth, development, and job creation. Khaled Hanafi, Secretary-General of the Union of Arab Chambers, echoed these sentiments, noting the UAE's achievements in facilitating trade and investment between nations globally. He pointed out that the UAE has emerged as a key hub for international trade, attributed to its global competitiveness and attractiveness as an investment destination.

Ahmed Al Wakeel, Chairman of the Federation of Egyptian Chambers of Commerce, remarked on the UAE's qualitative leap in trade and investment. He emphasized the country's status as a preferred location for investors in the region, thanks to its dynamic environment and facilities that align with evolving global circumstances.

The collective insights from these officials highlight the UAE's strategic efforts in reinforcing its position as a central player in international trade and investment. Through its comprehensive economic partnerships and active participation in global trade dialogues, such as those facilitated by the WTO, the UAE continues to contribute significantly to global economic prosperity.

With inputs from WAM