Middle East Business: UAE calls for action to develop global trade system – Gulf Digital News

Middle East Business: UAE calls for action to develop global trade system – Gulf Digital News

Dr Thani Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led a UAE delegation to the World Trade Organization (WTO)’s General Council meeting in Geneva that held recently, during which he urged the global trading community to move forward with reforms to modernise the global trade system.

Al Zeyoudi was accompanied to Geneva by Ahmed Abdulrahman Al Jarman, the UAE’s Permanent Representative to the United Nations, and Rashed Al Balooshi, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED).

Addressing the Council, the highest-level decision-making body of the WTO, Al Zeyoudi reasserted the UAE’s belief that global trade is both a key catalyst for inclusive global growth and an important remedy for the current economic headwinds.

He cited the progress made at the 12th Ministerial Conference (MC12) in June, which included breakthroughs on fisheries subsidies, intellectual property, pandemic preparedness and removing restrictions on food exports, and then called for similar unity of purpose to ensure the WTO remains a credible custodian of global trade.

“Now is the time to build on this momentum and push for greater progress to embrace digitalization and enhance strategic digital trade policies, as well as to strengthen the WTO’s role as a forum for trade negotiation and