Hill said in her speech to the Emirates News Agency, on the sidelines of the activities of the fourth session of the Global Trade and Supply Chain Summit, which is organized by the “Economist Impact” Foundation in cooperation with the Academy of… Economy What’s new in Dubai over the course of two days is that a state The UAE It plays a righteous role in promoting global trade, pointing to the trade agreements it has signed with various countries.
In the context of her talk about the UAE’s support for global trade, she pointed to the country’s hosting of the thirteenth Ministerial Conference in Abu DhabiAs it reflects the UAE’s commitment to strengthening the global trade system.
She stated that the UAE’s approach will help it take advantage of the opportunities resulting from the changes taking place in the global trading system.
The Deputy Director General indicated World Trade OrganizationThe organization is fully aware of the upcoming challenges it faces Global tradeConsidering that many countries are taking unilateral measures, and that the world is also witnessing geopolitical tensions affecting global trade, she stressed that global trade has proven its strength and flexibility in dealing with challenges and changes, citing the period of the Corona pandemic that struck the world years ago, and the ability of trade to do so. Time plays a vital role in reshaping supply chains.
During the event, Hill spoke about the organization’s expectations for the growth of global trade during the current and next years, noting that after a year that witnessed a decline of 1.4 percent, trade is expected to grow. Goods By 2.6 percent this year and 3.3 percent during the next year.
She pointed out that services trade witnessed a growth of 9 percent last year, which reflects a positive outlook for this year and next.
In a related context, John Ferguson, global head of new globalization research at The Economist Impact, stressed the positive role that the UAE plays in confronting the challenges facing global trade, as he said: “The UAE is working well in opening its markets, by concluding agreements.” Free trade with many countries.
Ferguson expressed his confidence that the UAE will remain an important global trade center in the future, as it continues its efforts to promote free trade and innovation in its trade strategies.
