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Sultan bin Saeed Al Mansouri, Minister of Economy, has said that hosting of main events of UNCTAD in 2020 in Abu Dhabi, underscores the UAE's position as an important trade and investment hub in the region, and serves its aspirations to contribute to the regional and international efforts to develop the business environment.
The UAE will host the World Investment Forum and Asia's first E-commerce Week in 2020 in Abu Dhabi and will co-chair the 15th Ministerial Conference, UNCTAD, hosted by Barbados in the Caribbean the same year.
The event will be hosted by the UAE Ministry of Economy and the Abu Dhabi Department of Economic Development, ADDED. The announcement was made during the 66th session of the United Nations Conference on Trade and Development, UNCTAD, Board, which was recently held in Geneva, in the presence of Mukhisa Kituyi, Secretary-General of UNCTAD and representatives of member states.
Al Mansouri added that the conference will play a key role in supporting the development of least developed countries. "The UAE has a strong partnership with it through several joint initiatives and activities that serve this cause," he pointed out.
Abu Dhabi’s hosting of this event is in line with the UAE’s efforts to support various initiatives aimed at achieving international consensus on E-commerce practices, that are witnessing steady growth, he noted. "Besides, in order to maximise the benefits of this trend in developing and least developed countries, the establishment of an integrated and flexible system that ensures the positive impact of this sector on the global economy is necessary," Al Mansouri added.
He said that the UAE is a leader in building and developing regional capabilities in this advanced field, adding that the UAE ranks first in the Arab world and fourth in the top 10 emerging economies in the field of E-commerce, according to the E-commerce indicator issued by UNCTAD.
He reiterated the wise leadership’s desire to further develop infrastructure and technology and enhance the country’s capabilities in smart services and e-commerce.
Saif Mohamed Al Hajeri, Chairman of ADDED, said that Abu Dhabi's hosting of the World Investment Forum and Asia's first E-commerce week establishes the UAE as a leading player in the regional and international trade movement.
He explained that the event will be of great benefit to the emirate as the Abu Dhabi government moves forward with plans to strengthen its international and regional partnerships to build a strong, sustainable and diversified economy capable of further development and growth in light of its policy of opening up and building fruitful global partnerships.
He further added that the event will contribute to the enhancement of external relations and trade ties with global markets, especially in the light of the ambitious development plans and specific economic initiatives launched as part of Abu Dhabi Government’s Accelerators Programme 'Ghadan 21’.
He urged all federal and local private sector companies and institutions to take advantage of the benefits that would come from the UNCTAD World Investment Forum.
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