More than 1,000 decision makers and high-level representatives of global organisations are attending the  4th Global Trade Development Week, currently being held in Dubai, UAE.

Eng Sultan bin Saeed Al Mansoori, UAE Minister of Economy, inaugurated the event which opened yesterday (October 30) will conclude tomorrow (November 1).

The event is being organised by the Ministry of Economy in partnership with the Federal Customs Authority.

The inauguration was attended by Abdullah Bin Ahmed Al Saleh, undersecretary of the Ministry of Economy for Foreign Trade and Industry, and Dr Mukhisa Kituyi, secretary general of the United Nations Conference on Trade and Development (UNCTAD).

More than 100 representatives from international economic and development organisations attended the event in the presence of more than 1,000 decision makers, representatives of customs authorities from around the world, heads of international companies and transnational entities, technology solution providers, and private sector representatives in the trade and customs fields, said a statement from the organisers.

Global Trade Development Week is gaining higher importance and a bigger turnout of international institutions involved in supporting global trade liberalisation in light of challenges facing international trade movement.

The event is particularly important as it provides a platform for discussions and consultations prior to the World Trade Organization Ministerial Conference in Argentina next December.

The event is being held at the Intercontinental Dubai Festival City Hotel under the theme ‘Navigating Global Trade & Reviving Global Growth Implementing TFA and Enhancing Capacity Across the Public & Private Sectors.’

Al Mansoori said: “This conference is vital to exploring ways to guarantee the increased flow of transnational trade and better secure and manage global supply chains.”

“The UAE is keen to play a positive role in the facilitation of smooth trade movement. The organisation of this event under the patronage of the Ministry of Economy in collaboration with the Federal Customs Authority sends a clear message of this firm commitment. It reflects the vision of our wise leadership to adopt trade policies based on flexibility, openness, market freedom, and the removal of restrictions and barriers to the movement of goods and services,” he added.

“The UAE is committed to the multilateral trading system principles as shown by its development of a favourable legislative system for businesses and trade activities. As the first Arab nation to ratify the World Trade Organization’s Trade Facilitation Agreement, the UAE continues to work towards the completion of the agreement’s requirements by streamlining transnational procedures and administrative systems and providing the necessary information and digital infrastructure,” he added.

Al Mansoori continued: “Our national approach towards building a vibrant and dynamic foreign trade sector is consistent with the enablers and determinants of UAE Vision 2021 geared towards turning the UAE into a major regional and global business destination.”

“We are optimistic about the improvement of domestic and global trade in the coming stage, especially following the enforcement of the Trade Facilitation Agreement at the start of this year,” he added. – TradeArabia News Service