UAE supports rules-based trading system for sustainable development

The UAE has reaffirmed its commitment to supporting an open, rules-based trading system that promotes sustainable economic development, employment, industrialisation, and shared prosperity during a meeting of the G20 Trade and Investment Working Group.

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Participating in the session as a specially invited guest of South Africa, who holds the G20 presidency for 2095, the UAE delegation also expressed its support for the integration of developing economies into global supply chains, the importance of achieving a just green transition and the ongoing reform of the World Trade Organisation (WTO) as a means of upholding a free, fair, and inclusive multilateral trading system.

The UAE delegation was headed by Juma Al Kait, Assistant Under-Secretary for International Trade Affairs at the Ministry of Economy, and included representatives of the Ministry of the Economy and the Ministry of Investment.

In his remarks to the working group, Juma Al Kait said the UAE trade agenda is closely aligned with the priorities of South Africa’s presidency, in particular the structural transformation of the African continent and the development of African Continental Free Trade Area.

The UAE, he said, has now concluded Comprehensive Economic Partnership Agreements with five African nations-Kenya, Central African Republic, Congo-Brazzaville, Morocco and Mauritius - and has opened discussions with many more to expand the benefits of free trade and boost investment in key sectors.