UAE to Host WTO Conference in 2024

The United Arab Emirates (UAE) has been granted the honor of hosting the World Trade Organisation's conference, in partnership with the Federal National Council (FNC), the Inter-Parliamentary Union (IPU), and the European Parliament. This event will take place on the sidelines of the WTO's 13th Ministerial Conference (MC13), scheduled to be hosted by Abu Dhabi in the first quarter of 2024.


The UAE's hosting of this international event demonstrates the ongoing cooperation and partnership between the FNC and the IPU, highlighting the country's diplomatic successes at international parliamentary events. Moreover, this event reinforces the UAE's prominent stature as a member of the WTO and a key player in the world's multilateral trade system.


The decision to award the UAE the honor of hosting this event was made by the Steering Committee of the WTO Parliamentary Conference during its 51st session. The participants of the committee praised the UAE's efforts to host MC13 and the organization's parliamentary conference, which is a joint project between the IPU and the European Parliament aimed at ensuring the WTO's transparency.



Marwan Al Muhairi, FNC Member, and the UAE Representative at the Committee emphasized the UAE's keenness to support the multilateral trade agenda. The country's strategic location on the world trade map, its stature as a core part of the international trade system, and its support for the efforts aimed at creating a global economic system that is fair, sustainable, flexible, and comprehensive underline the UAE's commitment to the development of a fair and transparent global trade system.


In conclusion, the UAE's hosting of the World Trade Organisation's conference is a testament to its commitment to promoting international trade cooperation and its willingness to collaborate with other countries to achieve this goal. It will provide an opportunity for policymakers to discuss and formulate solutions to some of the most pressing issues facing the global trade system today.

Comments

Post a Comment

Popular posts from this blog

UAE sends 14 tonnes of relief aid to Ukraine

Image
  In a show of continued commitment to humanitarian assistance, the United Arab Emirates (UAE) has sent 14 tonnes of relief aid to Ukraine. The aid was transported by an aircraft and included supplies such as blankets, personal care items, and LED bulbs to help the people manage the harsh winter conditions. This delivery of relief aid is just one part of the UAE's ongoing efforts to assist the Ukrainian people during the crisis. The country has established an air bridge that has sent 11 aircraft carrying approximately 550 tonnes of relief supplies to Ukraine. The supplies have included items such as medical equipment, food, and water. The UAE's commitment to helping those in need is not new. The country has a long history of providing humanitarian assistance to countries around the world. In fact, the UAE is one of the largest donors of humanitarian aid in the world, providing aid to countries affected by conflicts, natural disasters, and other crises. The UAE's efforts to ...
Read more

UAE Shares Digital Innovations in Payments and Remittances at G20 GPFI Meeting

Image
  The United Arab Emirates (UAE) has been an active participant in the Global Partnership for Financial Inclusion (GPFI) under the Finance Track of the G20 for 2023. Recently, the UAE participated in the second GPFI meeting, held on 6th-7th March in Hyderabad, India, under India's G20 Presidency. The meeting aimed to review the progress made on the GPFI workplan and the priority areas outlined for the group in 2023, including the development of the Financial Inclusion Action Plan 2023. The UAE delegation consisted of two members, Mariam Al Hajri, Deputy Director of the General Budget Department at the Ministry of Finance, and Faiza Al Awadi, Head of Financial Consumer Protection at the Consumer Protection Department at the Central Bank of the UAE. The delegation participated alongside other G20 members, invited countries, GPFI country members, and international organisations such as the World Bank and the International Monetary Fund (IMF). On the first day of the meeting, the UAE d...
Read more

ADNOC Gas Launches $2.5bn IPO on Abu Dhabi Stock Market

Image
  The Abu Dhabi National Oil Company (ADNOC) has recently announced the launch of its gas unit on the Abu Dhabi stock market. The newly formed gas unit, ADNOC Gas, is expected to raise $2.5 billion through an initial public offering (IPO), which aims to tap into the high demand for fuel in the region. ADNOC is one of the world's leading energy producers, operating across the entire hydrocarbon value chain. The company has a significant presence in the United Arab Emirates (UAE) and is a major contributor to the country's economy. The IPO of its gas unit is a significant development for the company and the region. ADNOC Gas only became operational at the beginning of this year, but the company has already generated a great deal of interest from investors. The offering was heavily oversubscribed, even after the company expanded the offering from 4.0 to 5.0 percent of its issued share capital in response to strong demand. The final price for the shares was set at 2.37 dirhams ($0....
Read more