UAE's Role in Global Investment Forum: Fostering Sustainable Development
Abu Dhabi, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade of the United Arab Emirates, convened a series of high-level meetings with ministers and government officials from various countries during the inaugural day of the eighth Global Investment Forum.
Dr. Al Zeyoudi emphasized that the UAE's role in hosting important international events like the Global Investment Forum is a testament to the nation's influential position in the global community. He underscored that this event can significantly contribute to channeling capital towards urgent sectors, supporting efforts to overcome global challenges such as energy security, water security, and closing the growing digital divide. The UAE acknowledges the pivotal role of trade and investment in providing solutions to these issues.
Furthermore, he highlighted the UAE's commitment to mobilizing resources to support global development projects. In the United Nations' 2023 World Investment Report, the UAE ranked 15th globally in terms of foreign direct investment outflows, following a $25 billion investment in 2022, representing a 10% increase from 2021. Dr. Al Zeyoudi expressed anticipation for the discussions and commitments to be made during the current week, aiming to achieve more breakthroughs towards a sustainable and equitable future.
These meetings included discussions with His Excellency Jose Ramos Horta, the President of East Timor, and Ms. Rebecca Greenspan, the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).
Dr. Al Zeyoudi reiterated the UAE's recognition of the importance of trade and investment as key drivers of global social and economic development. He emphasized the significance of further investment in areas such as energy, digital infrastructure, communications, and logistics services in countries around the world to promote economic growth and development.
Additionally, Dr. Al Zeyoudi met with Mustafa Varank, the President of the Turkish-UAE Parliamentary Friendship Group, discussing the prospects of cooperation under the Comprehensive Economic Partnership Agreement between the UAE and Turkey, which came into effect in September of the previous year.
The Minister held discussions with Mr. Manuel Tovar Rivera, the Minister of Foreign Trade of Costa Rica, and Mr. Marco Cadiza, the President of the Chamber of Commerce and Industry in Serbia. During these meetings, they explored bilateral trade and investment relations with these friendly nations.
Dr. Al Zeyoudi also engaged in talks with Mr. Fahan Kerobyan, the Minister of Economy of Armenia, a country witnessing a significant surge in non-oil bilateral trade with the UAE. The discussions focused on enhancing trade and investment in sectors including healthcare, information technology, communications, infrastructure, and logistics services.
Subsequently, the Minister met with Mr. Malai Thong Kommasith, the Minister of Industry and Commerce of Laos, and Mr. Qodirjon Chafkatovitch, the Minister of Investment, Industry, and Trade of Uzbekistan.
The eighth Global Investment Forum, themed "Investing in Sustainable Development," brings together key stakeholders, including world leaders and CEOs of leading companies. The event, held at the Abu Dhabi National Exhibition Centre (ADNEC), aims to address critical issues such as food security, energy transition, health systems, supply chain resilience, and global production capacity development. The UAE's active participation in such forums underscores its commitment to fostering global economic growth and sustainability.