UAE emphasizes its support for joint Arab efforts to promote the sustainability of Arab economies

H.E. Juma Al Kait: UAE is committed to sharing its leading experience to help promote Arab collaboration in the fields of future economy

The UAE participated in the extraordinary ministerial session of the Economic and Social Council of the Arab League, which took place at the Secretariat General of the Arab League in Cairo, Egypt. The meeting was a preparatory session ahead of the regular 31st session of the Arab League Summit, which will be hosted by Algeria, next November.

On behalf of H.E. Abdulla Bin Touq Al Marri, Minister of Economy, H.E. Juma Mohammed Al Kait, Assistant Undersecretary at the UAE Ministry of Economy for Foreign Trade Affairs, led the UAE delegation at the session. H.E. Al Kait said: “The UAE is committed to sharing its leading experience to help establish a modern and sustainable work environment with an aim to facilitate economic collaboration and integration efforts among the Arab states. The country has drafted proactive policies and legislations to support the development of joint Arab action in line with the vision and directives of our wise leadership, apart from its constant efforts to support the region’s social and economic initiatives, which would in turn ensure sustainable development of Arab economies.”

During the meeting, the UAE highlighted its innovative initiatives aimed at driving joint Arab action to achieve growth in future economy fields, which centered around three key topics. These are:

Arab Digital Economy Vision

The Arab Digital Economy Vision promotes the transition of Arab countries into digital economies in line with global shifts. The initiative serves as a developmental means to combat national, regional, and global economic challenges.

Arab Space Join Cooperation

The UAE has launched an array of pioneering programs to train qualified Arabs to spearhead the space sector. Examples are the Arab Space Pioneers’ Program, the Arab Space Cooperation Group, and the Arab Satellite 813 Project, which support Arab cooperation in space sciences.

Regulations Lab

The UAE also highlighted its innovative project titled the Regulations Lab (RegLab), which is a creative approach to changemaking through the drafting of regulations on emerging technologies and implementing them with the cooperation of executive authorities, the private sector, innovators, and entrepreneurs to enable the country to keep pace with recent innovations. The project further guarantees alignment between legislations and innovations, as well as helps in attracting entrepreneurs, talents, and inventive minds from strategic sectors.

The session’s attendees commended the UAE’s efforts, its distinguished economic experiences and contributions to facilitating the development of Arab economies. Furthermore, the meeting discussed several key topics listed on its agenda such as the progress made in meeting the requirements of the Greater Arab Free Trade Area (GAFTA); the establishment of the Arab Customs Union; cooperation in digital economy; Arab economic growth after the COVID-19 pandemic; food security; and the Arab Strategy for Peaceful use of Atomic Energy (2021 – 2030).