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The UAE confirm their support for common Arab action to achieve economic integration

The UAE confirms their support for joint Arab action to achieve economic integration Source: Emirates News Agency –

The United Arab Emirates (UAE), the United Arab Emirates (UAE) and the United Arab Emirates (UAE) have signed an official delegation presided over by the Minister of Economy Sultan bin Saeed Al Mansoori at the last preparatory meetings for the Fourth Summit on Arab economic and social development that took place in Beirut on Thursday 17 January. According to a press statement obtained 24 copies of the delegation, the delegation included the undersecretary to the Ministry of Economics for Economic Affairs, the engineer Mohammed Ahmed bin Abdul Aziz Al Shehhi, the assistant to the Minister of Business Foreign Affairs and International Cooperation for Economic and Financial Affairs Mohammad Sharaf Al Hashemi and the Minister for Economic Affairs Mohammad Saleh Shalawah.

The series of summit meetings began last Thursday with the follow-up committee meeting and preparations for the summit at senior level, followed on the same day by the joint preparatory meeting of permanent delegates and senior officials, in the presence of a UAE representative HE Mohammed Saleh Shalawah, adviser to the Minister of Economy.

The delegation, chaired by the Minister of Economy, participated in the joint meeting of foreign ministers and ministers concerned with the Economic and Social Council in preparation for the Arab Economic and Social Development Summit, which discussed the axes and issues at the summit agenda.

Arab Action
Ing. Sultan bin Saeed Al Mansoori said in a speech at the meeting that the Arab Development Summit is an important platform to promote a common Arab action on economic and social issues that contribute to the progress of the process of Arab development. He thanked the Lebanese Republic for its efforts to host the summit and its acuteness on its success.

He emphasized the acumen of the United Arab Emirates, based on the conviction of his wise leadership in the importance of Arab integration in various fields, to support the decisions of the Summit and work hand in hand with the Arab brothers for to follow their results in order to contribute to the achievement of the desired development objectives, underlining that the investment in development is the winning bet for the Arab countries, the attention to the economic and social issues of interest to the Arab world in addition to the complexities of politics, it would create a better future for future generations of Arabs.

He added that "the Arab countries have a wide range of resources and the availability of elements of growth and great human potential that will enable them to overcome the crises and challenges of development in the region". He stressed that the enthusiasm of the Arab countries to work together to improve levels of economic and social cooperation is the best way to promote development opportunities. To find solutions to the challenges that await us and to develop programs that foster sustainable growth in the Arab world. .

The Minister of Economy considered that the topics discussed at the summit represent an excellent roadmap for a positive transformation in the tracks of sustainable Arab development, emphasizing that the strengthening of cooperation on issues such as Arab food security, the improvement of trade and investment frameworks between Arab countries, the development of the digital economy bases, The development of a sustainable energy strategy, the promotion of tourism and the development of new development financing mechanisms in the Arab region will lead to a more developed, balanced and capable Arab economy.

He explained that the pioneering experience of the United Arab Emirates in various fields of development has provided an important example of the importance of these axes to achieve the desired growth. The United Arab Emirates, under the guidance of its wise leadership, have adopted a clear vision to build a competitive global economy based on knowledge and innovation driven by national competencies. The development of its legislative system and its attractive environment for investments, the development of commercial support structures, the stimulation of the technological environment, research and entrepreneurship, the application of a commercial policy open and the construction of global economic partnerships.

The first is Arabic
The strategy was reflected in the positive results achieved by the United Arab Emirates in the sectors of trade and investment and is currently in first place in the Arab and regional markets in exports and imports of goods and services, ranking in the 15th place in the world in exports of raw materials, 18 in global goods imports and 21 in global service exports. And 17% globally in service imports. It also ranked third in terms of re-export, accounting for around 13% of the world's total re-exports in 2017.

"At the level of investment, the United Arab Emirates is now in first place in the Arab world and 30% in the world to attract foreign investment. In the period between 1990 and 2017, the average growth rate of foreign investment in the country is state of 28%, compared to 12% in the Arab region,% of global average growth, and the state is now the largest Arab investor abroad ".

Al-Mansouri stressed that the United Arab Emirates believe that the economic results and competitive advantages achieved in various sectors have been achieved for the Arab region and that it is willing to share its skills and competences in support of the Arab development objectives, underlining that the changes in the global economy require greater Arab cooperation to increase levels of trade and encourage Arab and Arab investments and strengthening the position of Arab countries as a strong economic blockade in terms of international trade and flows of foreign direct investment.

Common Arab vision
"I would like to take this opportunity to emphasize in particular the importance of cooperation to develop a common Arab vision in the digital economy and our full support in the United Arab Emirates for the Arab efforts in this regard." Today's world is preparing for a new digital revolution whose main tools are advanced technology, artificial intelligence, e-commerce and technology reduction. "Th as cloud computing and technology data and the huge block, Chen and others, emphasizing the importance of Arab countries to be a part of this global trend, and cooperate to develop their own strategy for the development of the digital economy Arab and the optimal organization dealing with needs and challenges.

The UAE has taken significant steps in this direction by developing a robust ICT infrastructure in the ICT sector, launching the UAE Smart Initiative, moving towards a 100% intelligent transformation in various government services and developing platforms and applications intelligent at the service of commerce, economic development in the country.

On the digital commerce side, Al Mansouri said: "The United Arab Emirates is a leading hub for online commerce and they are experiencing a growing shift to e-shopping, they have developed their support infrastructure as payment systems. electronic, shipping, warehousing and delivery services. " According to the World Economic Forum The United Arab Emirates e-commerce market is expected to increase by about $ 27 billion (AED 100 billion) by 2020, up 100% compared to 2016, compared to the $ 69 billion expected for the entire market of e-commerce in the same year. Amara arrives First in the region, it represents about 39% of the total value of e-commerce money in the Middle East.

"The United Arab Emirates Government continues to support and organize this sector through new initiatives currently underway, such as the creation of an electronic e-commerce platform at national level, the development of a series of guidelines and regulations and incentives and standards and controls for e-commerce ", adding that today there is a great need to strengthen cooperation among Arab countries in the exchange of experiences and infrastructure development and the development of integrated and coherent legislative systems for the digital economy Arab, and coordination regarding the rules and controls that ensure the organization of the sector and the optimal management with its cross-border nature and the strengthening of trade links to the Arab countries through.

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