UAE Champions Open Trade and WTO Reform at G20 Ministerial Meeting in Brazil

UAE, 28 October, 2024 : Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, reaffirmed the UAE's commitment to open, rules-based trade at the G20 Trade and Investment Ministerial Meeting (TIMM) in Brazil. As an invited guest during Brazil's G20 Presidency, the UAE emphasized the importance of World Trade Organization (WTO) reform for promoting multilateralism and equitable access to global supply chains.

During key sessions, Al Zeyoudi discussed the need for WTO reform and highlighted trade's role in sustainable development. He underscored the significance of implementing decisions from the 13th Ministerial Conference of the WTO, particularly the Abu Dhabi Declaration on dispute resolution. He urged G20 members to combat protectionism and leverage technology for greener trade practices.

Al Zeyoudi welcomed the “G20 Compendium of Best Practices to Increase Women’s Participation in International Trade,” emphasizing the role of women-led SMEs in emerging markets.

The UAE delegation, including Juma Al Kait and Saleh Ahmad AlSuwaidi, engaged in discussions with various nations, focusing on the UAE's Comprehensive Economic Partnership Agreement program. Notable meetings included talks with trade ministers from Singapore, New Zealand, South Korea, India, and Australia.

The G20, representing 85% of global GDP and 75% of international trade, highlighted the UAE's expanding role as a global trade hub. In 2023, non-oil trade between the UAE and G20 countries exceeded $393.2 billion, a 54% increase from 2019.

Source : www.zawya.com