The UAE Ministry of Foreign Trade (MoFT) recently organized a workshop for trade representatives of UAE embassies and consulates abroad aimed at providing them with updated trade and economic information as well as facilitating direct interaction with the plans of service and economic departments and firms.
The workshop is the second in a series organized by MoFT in coordination with the Ministry of Foreign Affairs. It was attended by trade representatives of UAE embassies in the UK, Germany, Hong Kong, South Korea, Canada, and South Africa.
During the session, H.E Abdulla Ahmed Al Saleh, Director General of the Ministry, underlined the importance of enhancing communications among trade representatives assigned abroad, MoFT, and concerned economic bodies. He explained that this was necessary to update the representatives on trade and economic developments and the UAE’s latest investment laws and legislations. He added that better communication lines would support faster exchange of new investment and trade opportunities which can further promote the domestic economy and energize the Emirates’ markets abroad.
His Excellency also presented a detailed review of the Ministry's role, goals, and strategies towards developing the UAE's foreign trade. He outlined his organization's work plan to reinforce the trade profits of governmental bodies and the private sector by enhancing the volume of trade exchange, opening markets for local products, boosting foreign investments in the country, and overcoming obstacles to more active investment and trade.
H.E. Al Saleh emphasized the attractiveness of the UAE’s investment environment and the government's determination to develop laws and legislations that efficiently regulate foreign investments. The workshop, which lasted for more than a week, also included field tours and business visits to the Abu Dhabi Department of Economic Development; Mubadala; the Chambers of Commerce and Industry of Abu Dhabi, Dubai and Sharjah; Higher Corporation of Specialized Economic Zones in Abu Dhabi; Abu Dhabi Future Energy Company (Masdar); the International Renewable Energy Agency (IRENA) headquarters in Abu Dhabi; Abu Dhabi Tourism Authority; Jebel Ali Free Zone; Tourism Development Authority; Dubai Export Development Corporation; and the Judicial Training and Studies Institute, among other economic, service and trade bodies.
Participants attended presentations on activities and services provided and projects implemented or under preparation that align with the UAE’s strategic policies. Trade representatives from the UAE embassies also shared their opinions and suggestions on the tools needed to improve the role of trade attachés so that they could more effectively contribute to the UAE’s economic growth and its attractiveness as a foreign investment destination.
The local bodies visited by the trade representatives expressed their gratitude for the adoption of innovative approaches to maintaining communications between trade, economic and service authorities and departments and UAE embassies abroad. They also expressed their desire to witness even more similar initiatives to foster a unique interaction that provides a clearer view of the UAE’s impressive growth and the strategic plans concerning the business community abroad. They noted that trade representatives are the best parties to assist in interacting with foreign investors.
The trade attachés affirmed the success of the workshop as a source for vital trade and economic information as well as the economic development plans and strategies of governmental bodies. They expressed their willingness to showcase the UAE’s impressive growth and the rich investment opportunities the country offers to the investors and business communities in their respective foreign assignments.