UAE reaffirms its commitment to strengthening joint Arab action in developing new economy sectors, tourism, digital transformation and entrepreneurship

UAE delegation attends Arab Economic and Social Council’s preparatory meeting ahead of the 33^rd Arab Summit

The UAE participated in the ministerial meeting of the Arab Economic and Social Council, held on 12 May 2024 in the Bahraini capital, Manama. It was the preparatory meeting ahead of the 33^rd Arab Summit, to be hosted by the Kingdom of Bahrain on 16 May.

The meeting discussed several economic and social topics and initiatives of shared interest aimed at driving sustainable development in the Arab countries. The Council will submit its recommendations at the upcoming Arab Summit.

H.E. Abdullah Ahmed Al Saleh, Undersecretary of the UAE Ministry of Economy, led the country’s delegation at the meeting on behalf of H.E. Abdulla Bin Touq Al Marri, Minister of Economy. The Undersecretary highlighted the UAE's commitment, under the directives of its visionary leadership, to supporting the Council’s endeavors, continuing joint efforts in different economic fields, and strengthening economic and social enablers of the Arab economies to further support their progress and sustainability.

The delegation members pointed out that the meeting is an important opportunity to exchange experiences and enhance cooperation in developing various economic sectors of common interest, especially the new economy sectors, tourism, digital transformation, entrepreneurship, and SMEs in which, the Arab countries has proven their competitiveness in the recent years as indicated by key international performance indicators.

Additionally, the delegation noted that the region’s tourism sector has gained the confidence of travelers from around the world thanks to its great potential in the hospitality, hotel, and aviation industries, underlining the need to implement the ‘Inclusive Modern Destinations’ initiative. The importance of the integration of efforts in developing various tourism destinations and projects that represent the region’s history and heritage was highlighted as well. Another area of focus was the organization of events and activities that garner international attention to attract more international visitors to the region.

The UAE called for the intensification and integration of efforts between Arab countries in establishing a competitive economic environment for the new economy sectors, entrepreneurship, digital economy, IT, and AI applications. This is to be achieved through the implementation of the Arab strategy for Communications and Information and the Arab Digital Agenda 2023-2033, which build the foundations for future economy in the Arab world.

The delegation members expressed the UAE’s readiness to cooperate and exchange experiences with fellow Council members, highlighting the considerable progress made by the country in digital transformation and the integration of state-of-the-art technology across all vital economic sectors based on international best practices.

Moreover, the meeting reviewed several other topics of common interest, including the completion of the requirements for the Greater Arab Free Trade Area (GAFTA) and Arab Customs Union, in addition to eliminating barriers facing the imports and exports between Arab states according to specific criteria, considering economic interests of all parties.

The meeting agenda included the mechanisms for developing the region’s tourism sector, which has significant potential to propel the Arab world’s economic growth, digital transformation in new economy sectors, and the adoption of state-of-the-art technology at various levels. The meeting acknowledged the importance of ensuring water security in Arab states considering the current pace of climate change.