Global Possibilities’ Post

As scheduled and outlined on the WTO website, the WTO's 13th Ministerial Conference is scheduled to take place from 26 to 29 February 2024 in Abu Dhabi, United Arab Emirates. International ministers are to be present to assess how the multilateral trading system is operating and to discuss how the WTO should proceed with its future activities. H.E. Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade of the United Arab Emirates, is to preside over the conference. Thus, it began today. It was an indeed a beautiful opening ceremony. Personally, one of the highlights of today was the accession of Comoros and the Democratic republic of Timor-Leste to the WTO agreement. Trade is the past, present and certainly the future as a country that wishes to advance cannot do so without being strategic about their trade and its policies. ##wto##trade##afcfta ##advancement

🇦🇪The UAE has reached a historic milestone with record trade amounting to $952 billion WITHOUT INCLUDING OIL🇦🇪 Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, disclosed the latest figures: 💎 Trade with Turkey increased by over 103 percent, while trade with Hong Kong and China grew by 47 percent, and with the United States by 20 percent in just one year. 💎 The UAE surpassed its initial expectations for this year and attributed its success to forging new partnerships and collaborations, leading to increased trade with its top ten trading partners. 💎 The UAE has forged new paths of cooperation through comprehensive partnership agreements, and the country's sustainable progress during the global downturn in international trade has been noted. 💎 The Ruler of Dubai also emphasized the UAE's position as a significant player in the international trading arena, maintaining strong economic ties with partners worldwide, and reaffirmed the country's commitment to its motto of delivering on its promises.

The UAE and Switzerland's bilateral trade in 2023 exceeded $22.3 billion, which is a 41.2% increase from 2022. The two countries are looking to increase their $22.4 billion trade partnership. This will open new investment opportunities for Business in the UAE. #UAE #Switzerland #BilateralTrade #EconomicPartnership #InvestmentOpportunities #TradeGrowth #InternationalTrade #BusinessExpansion

Sheikh Mohammed says Dubai is a key player in the future of global trade 🌐 Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said the emirate is continuing to consolidate its role as a key player in the future of global trade. The key to Dubai's continued success is providing world-class infrastructure and services for bridging markets around the world, he said. He then referenced the Dubai Economic Agenda D33’s goal of raising foreign trade to Dh25.6 trillion and expanding the emirate’s global reach to 400 additional cities over the next decade. “We are not only creating greater economic prosperity but also helping forge new pathways for a more interconnected global trading landscape,” said Sheikh Mohammed. SOURCE: https://lnkd.in/d--k9Enj.

New era of sustainable growth #UAE #CEPA #Business #Trade #Investment #Expansion #GlobalTrade #EconomicGrowth #ForeignInvestment #InternationalBusiness #TradeAgreements #EconomicDevelopment #MarketAccess #InvestmentOpportunities Ahmed Khalifa AlQubaisi https://lnkd.in/dt4J8eaT

The Republic of #Korea’s vibrant, tech-driven economy mirrors the #UAE’s own. It is one of the world's most advanced economies, with a GDP in excess of US$1.7 trillion and a ranking of fifth in global ease-of-doing-business. Like the UAE, Korea believes trade, technology and targeted investment are the keys to long-term, sustainable prosperity – and we are already supporting each other’s growth objectives: ⏩ In 2023, we shared US$5.3 billion in non-oil trade ⏩ A total of US$2.8 billion is invested in each other’s economies ⏩ The UAE accounts for 20% of Korea’s trade with the Arab world. Today, in the presence of HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and HE Yoon Suk Yeol, President of the Republic Korea, our nations came together to strengthen these bonds by signing a Comprehensive Economic Partnership Agreement. It is a deal that signals the beginning of an exciting new era of collaboration. By removing customs duties, improving market access for our exporters, establishing new platforms for investment, and accelerating knowledge transfer, we are projecting this will boost the UAE’s #GDP by 1.17% by 2032. Our latest CEPA is a vital bridge to a nation at the cutting edge of tech-development – and we are ready to embrace its limitless possibilities. #trade #tradefaciliation #CEPA #supplychains #FDI

🌍 Exciting Developments in China-UAE Trade and Investment! 🚀 China and the UAE have deepened their commercial partnership, with significant progress in bilateral investments and trade. Key highlights include: 1️⃣ Strategic Partnerships: The UAE fully supports China's Belt and Road Initiative, leading to collaborative projects like the Dubai Traders Market and the China-UAE Industrial Capacity Cooperation Demonstration Zone. 2️⃣ Bilateral Trade Surge: Trade between China and the UAE exceeded US$75.6 billion in 2021, with significant growth in Chinese exports to the UAE, particularly in energy, infrastructure, and FinTech. 3️⃣ Investment Momentum: China's COSCO Shipping Limited has chosen Khalifa Port as its Middle East hub, enhancing investment prospects. FDI into the UAE has seen a notable increase, with China's direct investment surging. 4️⃣ Cross-Border Agreements: Both countries are exploring joint ventures and investments, especially in free trade zones and financial services, with collaboration extending to science, technology, and education. The UAE's Role in the BRI: 🔗 Positioned as a strategic partner in the Belt and Road Initiative, the UAE serves as a vital commercial hub linking Europe, Asia, and Africa, with significant investments in infrastructure. Active Projects: 📈 Initiatives like the Dubai Traders Market and the China-UAE Industrial Capacity Cooperation Demonstration Zone highlight tangible outcomes of China-UAE collaboration, promoting trade facilitation and economic diversification. Opportunities abound for businesses and investors as China and the UAE deepen their economic ties, shaping the future of trade and investment in the Middle East and beyond. Let's seize these opportunities for mutual prosperity! 💼✨ #ChinaUAE #BilateralTrade #Investment #BeltAndRoadInitiative #BusinessOpportunities

Absolutely thrilled to witness the strengthening of ties between the Republic of #Korea and the #UAE! 🇰🇷🤝🇦🇪 Korea's tech-driven economy, boasting a GDP of over US$1.7 trillion and a top-five global ease-of-doing-business ranking, mirrors the UAE's dynamic growth. Both nations believe in the power of trade, technology, and targeted investment for long-term prosperity. 📈 US$5.3 billion in non-oil trade. 💸 Mutual investments total US$2.8 billion. 🌍 UAE accounts for 20% of Korea's trade with the Arab world. In the presence of HH Sheikh Mohamed bin Zayed Al Nahyan and HE Yoon Suk Yeol, signing a Comprehensive Economic Partnership Agreement (CEPA). This landmark deal aims to: 🚀 Remove customs duties 🚀 Improve market access for exporters 🚀 Establish new investment platforms 🚀 Accelerate knowledge transfer This will boost the UAE’s #GDP by 1.17% by 2032. This CEPA is a vital bridge to a nation at the forefront of tech development, and we are ready to embrace its limitless possibilities. #EconomicGrowth #InternationalTrade #InvestmentOpportunities #TechInnovation #SustainableDevelopment #GlobalPartnership #EconomicPartnership #UAEKoreaRelations #TradeAgreements #FutureGrowth #MarketAccess #KnowledgeTransfer #TechDevelopment #EconomicProsperity

The UAE is rapidly advancing its position as a global economic powerhouse through its Comprehensive Economic Partnership Agreement (CEPA) strategy. Introduced as part of the visionary "Projects of the 50" initiative, CEPA aims to attract $150 billion in foreign direct investment by 2031 and transform the UAE into one of the world's top ten FDI destinations. CEPAs provide an integrated economic environment that yields extensive advantages for businesses. This includes significant reductions in import and export duties, streamlined regulations, and minimized paperwork, and broader access to affluent markets in partner countries. The UAE has signed agreements with many countries, demonstrating a commitment to broadening its economic influence. This strategy opens up opportunities for businesses within the UAE, easing access to new markets and reducing trading costs. It also creates a stable and welcoming business environment for international companies seeking to enter the UAE, thereby facilitating easier operations in a thriving economic landscape. The impact of these strategic partnerships is set to redefine business dynamics not only in the Middle East but globally. #UAE #CEPA #Business #Trade #Investment #Expansion #GlobalTrade #EconomicGrowth #ForeignInvestment #InternationalBusiness #TradeAgreements #EconomicDevelopment #MarketAccess #InvestmentOpportunities https://lnkd.in/dt4J8eaT

Elevating Economic Partnerships: Pakistan and UAE Forge Ahead As Pakistan and the UAE nurture their longstanding relationship, recent developments point towards a substantial boost in economic collaboration. With over 28 agreements and MOUs in various sectors, the impending CEPA and FTA hold the promise of a significant bilateral trade upswing. This collaboration aligns with both nations' economic priorities, fostering growth, and opening avenues for mutual development: https://ow.ly/oGWa50QmuQj #PakistanUAE #EconomicCollaboration #InvestmentPartnership