Innovative Economic Visions Are Key To Promoting Growth And Sustainability, Say Experts

At the Annual Meetings of the Global Future Councils 2025, organised by the UAE Government and the World Economic Forum (WEF), officials and experts emphasised creating innovative economic visions. These visions aim to promote inclusive growth, sustainability, and equal opportunities. The event's Economy theme featured discussions through seven specialised Councils on topics like Advanced Manufacturing, Decentralised Finance, and International Trade.

The Global Future Council on Advanced Manufacturing and Value Chains focused on industrial policies' growing importance at regional and national levels. Discussions centred around regulatory coordination to reduce costs and enhance efficiency across supply chains. This approach seeks to balance economic, social, and environmental impacts for sustainable industrial transformation.

The Global Future Council on the Business of Economic Growth examined businesses' roles in fostering balanced growth amid global challenges. Participants highlighted how collaboration between business leaders and policymakers can create strategic alignments. These alignments aim to transition economies towards more sustainable and inclusive growth.

In exploring the Regenerative Blue Economy, discussions revolved around reshaping economic interactions with oceans. Emphasis was placed on innovation in maritime transport, renewable energy, coastal tourism, and aquaculture. These efforts support healthier marine ecosystems, mitigate climate change impacts, and ensure equitable distribution of marine resource benefits.

The Global Future Council on Decentralised Finance delved into integrating blockchain and smart contracts within financial systems. It stressed developing governance frameworks that ensure transparency and efficiency without compromising financial stability or user protection principles.

Addressing geopolitical pressures and environmental challenges in international trade was a focus for the Global Future Council on International Trade and Investment. Members discussed necessary reforms in trade policies to balance economic growth with sustainability and inclusivity. This aims to enhance shared prosperity opportunities across nations.

Impact of Technology on Labour Markets

The Global Future Council on Jobs and Frontier Technologies explored technological innovations' impact on labour markets. Discussions centred on creating higher-quality jobs while addressing socioeconomic inequality through flexible training policies.

The Global Future Council on Financial Education aimed to empower individuals with financial knowledge. It focused on equipping them with skills to navigate diverse financial products amidst increasing economic uncertainty. Members stressed investing in financial literacy as crucial for long-term financial well-being.

The Global Future Councils 2025 brought together over 700 experts from 93 countries across 37 Councils covering six themes: Technology, Economy, Society, Environment, Governance, and Health. This initiative marks a milestone in the UAE Government's longstanding partnership with the World Economic Forum.

This collaboration has hosted over 900 Global Future Councils over 16 years, engaging more than 12,000 officials and experts worldwide. The councils have addressed numerous issues critical to humanity's present and future well-being.

With inputs from WAM