The UAE continues to consolidate its long-term strategic partnerships with major economies, as a reliable trade and investment partner, and a gateway to facilitate the flow of goods and services between parts of the world.
The country organized the “UAE-Global B20 Business Forum”, in conjunction with the activities of the G20 Business Summit held in Brazil, with the aim of strengthening these ties and taking them to new levels.
This forum was held as part of the UAE’s participation in the B20 Business Summit, which was held in the Brazilian city of Sao Paulo on October 24 and 25 under the slogan “Inclusive Growth for a Sustainable Future.”
The UAE delegation was headed by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and included His Excellency Saleh Ahmed Al Suwaidi, UAE Ambassador to the Federal Republic of Brazil, His Excellency Abdullah Shaheen, Consul General of the UAE in Sao Paulo, and His Excellency Juma Al Kait, Assistant Undersecretary for International Trade Affairs in The Ministry of Economy, and more than 30 senior government officials, business leaders and representatives of various economic sectors, reflecting the UAE’s commitment to actively participate in enhancing international cooperation and supporting sustainable economic growth.
The “UAE-Global B20 Business Forum”, which was organized by the Ministry of Economy in partnership with the UAE Embassy in Brazil and the UAE Consulate in São Paulo, witnessed a remarkable presence of delegations participating in the G20 Business Summit, who represent the 20 largest economies in the world, in addition to the guest countries participating in the summit. The forum witnessed many bilateral events and meetings between members of the UAE delegation and their counterparts participating in the summit, with the aim of discussing future cooperation prospects and exploring the creation of new trade and investment partnerships in sectors of common interest.
Regarding the UAE’s participation in the G20 Business Summit, His Excellency Dr. Thani bin Ahmed Al Zeyoudi stressed that the UAE’s participation in this event reinforces the important role of the state in shaping the future of the global economy and international trade, by supporting policies of freedom of trade based on pluralism and rules, which contribute to strengthening Innovation and sustainability. After the country’s great success in hosting the thirteenth Ministerial Conference of the World Trade Organization in Abu Dhabi, the UAE continues to implement its commitment to leading international efforts to develop more flexible and efficient global value chains, and to strengthen strategic partnerships that contribute to achieving equitable and comprehensive economic prosperity for all.”
His Excellency added that the UAE’s participation in the G20 Business Summit establishes its role as an active and influential member of the international community, and a major contributor to leading efforts to stimulate global economic growth and increase trade and investment flows in order to achieve sustainable growth and comprehensive development around the world.
His Excellency said that the G20 Business Summit is an important opportunity to communicate and strengthen long-term partnerships with major global economies, as pressing issues in global trade are discussed, such as sustainable development, investment, food security, and reducing non-tariff barriers. The UAE has invested its participation in this summit to enhance Multilateral trade cooperation, and improving its long-term partnerships with the G20 countries, to support efforts aimed at consolidating the country’s position as a global trade center linking the continents of the world through the development of promising trade and investment corridors.
The summit witnessed the presence of business leaders and decision-makers from the G20 countries and invited countries as guests, to discuss global economic challenges and propose solutions to promote sustainable global trade.
The UAE delegation actively participated in the sessions and working group meetings that focused on reforming the World Trade Organization, strengthening the multilateral trading system, supporting sustainable business practices that stimulate investment, and improving the efficiency of international trade systems and the flexibility of supply chains, in preparation for submitting its recommendations to the meetings of the leaders of the group’s countries, which will be held in Next November.
The “Emirati-Global B20 Business Forum” was launched with opening speeches delivered by His Excellency Dr. Thani bin Ahmed Al Zeyoudi and Dr. Frederico Lamego, Supervisor of International Relations at the National Confederation of Brazilian Industry, where His Excellency Al Zeyoudi stressed the importance of the free flow of trade and investments as a pillar of sustainable economic growth, stressing the keenness of The UAE seeks to strengthen relations with various promising economies around the world through the Comprehensive Economic Partnership Agreements Programme, which aims to expand the country’s network of trade and investment partners, enhance access to global markets, and achieve common growth and mutual interests.
The “Emirati-Global Business Forum B20” represents a unique platform to strengthen economic relations between the UAE and the largest economies around the world, in addition to opening new horizons for cooperation in vital areas including renewable energy, trade and investment, technology and innovation, agriculture and food security, education, and other promising sectors. Which constitute basic pillars for achieving sustainable development.
The forum included discussion sessions that addressed vital topics, including strengthening trade and investment partnerships as a lever for sustainable economic growth, opportunities available in the aviation sector and ways to use renewable energy in it, in addition to presentations by representatives of leading Emirati companies and institutions on innovation and the country’s extended path towards sustainable growth. Leaders also presented Businesses from Brazil and other countries participating in the G20 Business Summit highlighted opportunities for cooperation and building partnerships with the Emirati business community.
On the sidelines of the summit, the UAE delegation held bilateral meetings with their counterparts from the G20 countries, to discuss ways to enhance trade cooperation and explore new investment opportunities, which contributes to supporting sustainable growth and consolidating the UAE’s position as an essential partner in promoting global trade.
The UAE delegation participating in both the G20 Business Summit and the UAE Global Business Forum included representatives from various sectors including education and scientific research, innovation and technology, health services, trade and investment, energy, agriculture and food security, tourism, industry, ports and services. Logistics, aviation, finance, defence, and sports.
It is noteworthy that the UAE’s non-oil foreign trade continues its upward trajectory with major economies around the world, as the country’s trade with the G20 recorded $196.1 billion during the first half of 2024, an increase of 4.1% compared to the same period of the previous year, bringing the G20’s share to about 51.6%. Of the country’s total non-oil foreign trade during that period, this growth came thanks to the record increase recorded by the UAE’s non-oil exports, which rose by 11.5%, noting that the UAE’s non-oil trade with the G20 had reached $393.2 billion in the year 2023. Recording a growth of 15.3% compared to the year 2022, and by 54% compared to the year 2019, which reflects the strength of the growing economic relations between the UAE and the 20 largest economies around the world.
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