Thani Al Zeyoudi hails UAE’s leadership on trade as key to nation’s rise in Global Soft Power Index

0
241

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the UAE’s leading role in facilitating global trade and advocating multilateralism in a post-COVID world.

Al Zeyoudi affirmed that these two main factors among others, contributed to the UAE’s leading position as a key player in international trade, adding that the increasing influence of the country in the world, comes as a consequence of the swift rebound of the travel and tourism sector, and its ongoing efforts to support energy transition across the developing world.

During a one-on-one panel session at the Global Soft Power Summit 2023, Dr. Al Zeyoudi underlined that the UAE’s positive reputation over the last 50 years is a clear reflection of its ambitious and outward-looking development, engagement with the world through trade and investment and its leading position as a preferred destination for talents, businesses, institutions and companies around the world.

At the Brand Finance’s annual event held in London, Al Zeyoudi affirmed that the UAE is a global gateway that believes in collaboration, cooperation and knowledge exchange as the main factors for economic and social growth.

Dr. Al Zeyoudi said, “Trade has had an indelible impact on our soft power. Located at a strategic global crossroads, the UAE is one of the world’s most connected countries and act as a vital bridge for many nation’s products on key East-West, North-South trade routes. This role is reflected in the value of re-exports, which hit a record US$167 billion in 2022. Importantly, we continue to advocate for open, rules-based trade as a means of catalysing inclusive, broad-based growth, especially in developing countries.”

“Whether through our Comprehensive Economic Partnership Agreements, our new Trade Tech Initiative launched in partnership with the World Economic Forum, or by hosting the World Trade Organisation’s MC13 in February next year, we are now an active player in the development of a modern, digitally enabled trading system that can secure supply chains and stimulate the flow of goods and services around the world,” he added.

Dr. Al Zeyoudi also highlighted how the UAE’s energy transition agenda reflects the countries commitment in developing pioneering solutions in solar power and carbon capture, in addition to helping other countries in terms of adopting sustainable and renewable energy.

He noted that the UAE’s track record in energy transition is unrivalled in the region, pointing out the markable increase in its renewable energy capacity over the last 10 years, and the production of the cheapest commercial-scale solar power on the planet.

Dr. Al Zeyoudi said that the country is supporting renewable energy projects around the world, investing US$50 billion in 70 nations across six continents – from onshore wind farms in Egypt to floating solar plants in Indonesia.

“As the host of COP28 in November 2023, the UAE now has the platform and the credibility to lead this essential mission at a global level,” he concluded.