The Foreign Trade Policies Department at the Ministry of Economy organized a technical workshop on the challenges facing foreign trade and investment. The event highlighted the latest international development trends and raised awareness about the UAE’s commercial competitiveness in regional and international markets.

The workshop was held at Conrad Hotel, Dubai and brought together researchers, specialists and trainees from the local and federal government.

His Excellency Juma Al-Kait, Assistant Undersecretary for Foreign Trade, Ministry of Economy said: “The aim of the workshop was to spotlight challenges faced by the ministry and country at large in the foreign trade sector. Over the last two decades, globalization has fast-tracked regional economic integration and foreign trade is one of the key aspects of this integration. Understanding foreign trade patterns, structures and their determinants is, therefore, important for policy and developmental reasons.

“The modem economic landscape is marked by open markets, cross-border trade and moving capital. There are so many rapid changes and inter-dependent variants that constantly lead to complex and connected economic scenarios. It is very important for us to recognize the challenges and convert them into opportunities.”

The workshop focused on specific issues such as climate change, population and currencies. It also discussed case studies and models to illustrate how to adapt to or contain developments such as currency fluctuations, oil price changes, technology improvements and evolving laws and regulations. 

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