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Monday, April 22, 2024

UAE Leads Arab Economic Social Meeting

Abdullah bin Touq Al Marri, UAE Minister of Economy, led the UAE delegation at the 113th Arab Economic and Social Council meeting in Cairo, hosted by Jordan. Discussions focused on enhancing Arab cooperation in economic and social spheres, implementing previous decisions, and fostering sustainable development. Minister bin Touq emphasized the UAE’s commitment to cooperation in new economy sectors, tourism, digital transformation, entrepreneurship, and SMEs. Despite challenges, Arab economies showed resilience with a 1.8% GDP growth rate in 2023, reaching nearly US$3.4 trillion, projected to reach US$3.5 trillion in 2024. Topics included strengthening the Arab Customs Union, promoting exports and imports, and implementing the Greater Arab Free Trade Area. The UAE aims to progress with the amended Arab Investment Agreement to boost investment exchanges among Arab states, supporting FDI flows. Minister bin Touq praised the council’s role in community development through health, family, and training programs, highlighting initiatives for Arab women, family and child health, and individuals with special needs.

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