Cape Town: The UAE has reaffirmed its commitment to supporting an open, rules-based trading system that promotes sustainable economic development, employment, industrialisation, and shared prosperity during a meeting of the G20 Trade and Investment Working Group.
According to Emirates News Agency, the UAE participated as a specially invited guest of South Africa, which holds the G20 presidency for 2025. The UAE delegation expressed support for integrating developing economies into global supply chains, achieving a just green transition, and reforming the World Trade Organisation (WTO) to uphold a free, fair, and inclusive multilateral trading system.
The UAE delegation was led by Juma Al Kait, Assistant Under-Secretary for International Trade Affairs at the Ministry of Economy, and included representatives from the Ministry of the Economy and the Ministry of Investment. Al Kait emphasized that the UAE's trade agenda aligns closely with South Africa's presidency priorities, particularly the structural transformation of the African continent and the development of the African Continental Free Trade Area.
The UAE has concluded Comprehensive Economic Partnership Agreements with five African nations-Kenya, Central African Republic, Congo-Brazzaville, Morocco, and Mauritius-and is engaged in discussions with more countries to expand free trade and boost investment in key sectors. Al Kait highlighted the UAE's investment in regional value chains, mentioning the Africa Economic Corridor Strategy and contributions from Abu Dhabi Ports and DP World in developing integrated logistics solutions for African businesses.
The UAE also supports green industrialisation, aligning with South Africa's G20 presidency focus. The UAE has invested significantly in renewable energy ventures, committing more than US$16.8 billion across 70 countries, primarily in the developing world.
In the final session, the UAE emphasized the WTO's role as the global trading system's custodian, particularly in addressing economic asymmetries. Al Kait noted progress in agriculture and fisheries at the 13th Ministerial Conference (MC13) of the WTO held in Abu Dhabi in February 2024, expressing hope for consensus at MC14 in Cameroon next year.
Juma Al Kait stated that the Working Group is crucial for building consensus among the global trading community and promoting open, rules-based trade. He noted that trade drives sustainable economic development, impacting investment, industrialization, job creation, and innovation. The UAE aims to ensure the global trading system is inclusive and accessible, aligning with the G20's trade priorities for 2025 and the UAE's foreign trade agenda. The Ministry of Economy and the Ministry of Investment will continue contributing to the TIWG sessions to ensure trade benefits are shared equally and equitably.