[ad_1]
ABU DHABI, (UrduPoint/Pakistan Point News/WAM – 8th January, 2023) Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said, United Arab Emirates Continue to leverage its global reach by opening up world Expand its network of trading partners by entering into comprehensive economic partnership agreements with a carefully selected group of economic partners market It has international and regional strategic significance.
The minister made the remarks in an op-ed to the UAE information agency, where he spoke about moves to cement the country’s position as a major contributor to international efforts to revive the global economy.
“Openness world is a truly Emirati way that the country has practiced since its inception as an active and reliable member of the international community, keen to contribute to overcoming global challenges.
Priorities set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and ruler dubaiwhen he presided over the first ministerial meeting of the new year, he constituted five government Priorities for 2023, including United Arab Emirateseconomic partnerships and their extensions.
in some surrounding countries world towards protectionism and isolationism, United Arab Emirates Continue to leverage its global reach by opening up world Expand its network of trading partners by entering into comprehensive economic partnership agreements with a carefully selected group of economic partners market It has international and regional strategic significance.
The importance of this approach is not limited to the economic, commercial and investment dividends reaped by the parties to these agreements, but also extends to ensuring that the country is consolidated as a major contributor to efforts to strengthen international cooperation to revive the global economy and to help it overcome currency Rising inflation and a looming recession challenge.This can be achieved through partnerships, synergies and constructive efforts that contribute to ensuring sustainable growth, stability and security in complex environments world.
This United Arab Emirateseager to open up world Efforts to remove barriers to trade and investment flows translate into consistent practice in the UAE, as trade has always been an integral part of the country’s history and heritage, and it has been and remains a bridge between East and West.
Expanding the country’s global economic partnerships is governmentPriorities for 2023, which provides more impetus to its relentless efforts to forge a more comprehensive economic partnership agreement.
During 2022, United Arab Emirates Successfully complete 3 agreements India, Israel and IndonesiaThe first is already in effect the last possible Positively reflect the country’s non-oil foreign trade data for the first nine months of this year. The second item has been approved by the two governments and is ready to be implemented, and the third item will follow up in the near future.
This United Arab EmiratesComprehensive Economic Partnership Agreement India and Indonesia Open doors to UAE products and services, unlocking huge business opportunities for exporters market These two countries have a population of more than 1.750 billion Number of people: 1.4 billion exist India and 350 million exist Indonesia. India ranking now worldThe sixth largest economy, this coveted status is even expected to be further improved in the next few years; this identical apply to Indonesiawhose record shows impressive growth rates.
Simultaneously, United Arab Emirates Continue high-level talks to finalize more agreements with 5 other countries.Similar negotiations will soon begin with other countries Africa, Asia, Europe and South America.At the same time, under the umbrella of the Gulf Cooperation Council (GCC), continued cooperation with ChinaKorea and U.K.and some economic blocs.
The Comprehensive Economic Partnership Agreement aims to establish a strong trade and investment partnership based on mutual interests with a key group of strategic partners market surrounding world. This is to ensure the seamless flow of trade, services and investment as an important catalyst for sustainable economic and social development.The sum of the foreign trade volume of these countries and groups United Arab Emirates Aims to sign agreements accounting for approximately 95 percent of global trade.
This trend creates more opportunities for growth and prosperity in the country’s non-oil trade to achieve the goals of the 50-year project and us United Arab Emirates 2031″ vision added United Arab Emiratesof AED 4 trillion in foreign trade and a consequent boost in non-oil exit up to AED 800 billion.
The conclusion of these comprehensive economic partnerships is in line with recent economic development trends, especially China’s policy of actively opening up and building fruitful international partnerships. United Arab Emiratesespecially because such agreements are ideal means and tools to accelerate the process of global economic recovery and overcome the limited size of local and regional economies marketaccommodate industrial projects and attract foreign direct investment.
It also promotes national exitDevelop trade exchanges and develop them into outputs that help support the country’s sustainable development strategy and help support the country’s investment climate, attract foreign direct investment, and make the country a leader in foreign investment flows, thereby supporting its commercial and economic status as a center of global trade.
This United Arab EmiratesEfforts to forge more global economic partnerships are reflected in the value of the country’s non-oil foreign trade, which hit unprecedented historical figures in the first nine months of 2022.
This United Arab EmiratesNon-oil foreign trade exceeded AED 1,637 billion, up 19% year-on-year identical During 2021, a 50% increase over the previous year identical period 202030% increase over the previous year identical period 2019.
This United Arab Emirates also consolidated the recovery From Due to the impact of COVID-19, higher rates were recorded than in the pre-pandemic period.
This coincides with a significant increase in the country’s non-oil exitits contribution to total foreign trade has risen to 20 percent from 12 percent five years ago, while re-exports now contribute 45 percent, while imports have fallen to 55 percent, compared with more than 62 percent five years ago.
This confirms that the economic diversification strategy goes hand-in-hand with the growth and expansion of the country’s external trade, which also justifies the plan to double GDP to AED 3 trillion by 2030, of which trade is an integral part, is also pushing in the right direction and trying to strengthen the country’s position as a global power Business A hub and destination of choice for talent, innovators and ideas, and a haven for investment streams looking for promising opportunities.
choose United Arab Emirates hold world Reflecting the country’s prestigious global position on today’s international trade map, the 13th Ministerial Conference of the World Trade Organization (WTO) in particular is seen as a turning point in the organization’s history that will reshape the future of international trade as As confirmed by President His Highness Sheikh Mohamed bin Zayed Al Nahyan, it plays a desirable role in revitalizing the global economy and stimulating its sustainable growth, he said United Arab Emirates Will work with 164 countries on this important global scale event Open a new era of free trade for the benefit of mankind. “
[ad_2]
Source link