For the First Time .. International Trade Included In COP28 Agenda.
International trade as part of the agenda of COP28, which will be held in the UAE in November and December 2023.
This is the first time that trade has been included as a specific topic at a COP Agenda.
The UAE Mission to the World Trade Organization announced this during the meeting of the Trade and Environment Committee.
During the UAE’s presidency of COP28, one day is dedicated to trade.
Particularly in relation to the UAE role as a catalyst for climate-smart growth.
Including the adoption of technology, digitization.
As well as trade and investment tools to enhance the resilience of supply chains.
Later, Dr. Sultan Bin Ahmed Al Jaber, the designated President of COP28, confirmed that intl trade is part of COP28 by a letter to the Parties of the UNFCCC.
That was during his participation in the ministerial meeting on climate action in Brussels late last week.
The Ministry of Economy and the COP28 Presidency will be leading the Trade Committee at the next Conference, along with the following:
– WTO Secretariat.
–UNCTAD.
– International Chamber of Commerce.
– World Economic Forum.
– Abu Dhabi Department of Economic Development.
This alliance is established to promote the use of trade and investment tools to provide solutions to mitigate and adapt to climate change.
Also, it aims to ensure fair access for all to global supply chains.
Moreover, this will support the growth of small and medium-sized enterprises in all countries, particularly in the developing world.
Dr. Sultan Bin Ahmed Al Jaber said:
“The COP28 Presidency is working in line with the vision and guidance of the leadership to address challenges with a positive mindset.
As well as considering climate action as an opportunity to achieve sustainable economic and social growth.
Also to create a positive and fundamental change that includes all sectors.
And benefits communities in all segments of society around the world.
International trade is an essential tool in accelerating climate action.
Since International trade is a key enabler of economic growth, job creation, and improved livelihoods.
In addition, it has the potential to unleash investments in emerging economies.
Promote the uptake and adoption of clean energy technologies, and support green jobs and innovation.
The inclusion of trade in the specialized topics programme for COP28 is a result of a thoughtful and deliberate effort.
Surely it will attract more stakeholders to participate in our collective efforts and accelerate concrete and effective climate action.”
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said:
‘The inclusion of trade as a key pillar at COP28 reflects the UAE’s commitment to providing practical and feasible solutions”
He added: “As a global hub for supply chains, the UAE recognizes the importance of the the international trade community role.
Since Intl trade supports the energy transition.
Along with achieving sustainable growth around the world through the adoption of technology and digitization.
We look forward to the forward-looking ideas at COP28.
Which can provide a more intelligent, faster, more inclusive, and sustainable trading system.
Especially for micro, small, and medium-sized enterprises in developing countries.
From developing and adopting new technologies to build consensus to ensure the integration of global supply chains.
The UAE is keen to lead this fundamental transformation of international trade.”
Dr. Ahmed Jassem Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, said:
“the inclusion of trade on the agenda of COP28 confirms the UAE’s unwavering commitment to working to reshape the future of global trade.
Which aims to achieve the Sustainable Development Goals”
Which aims to achieve the Sustainable Development Goals”
He said: “The UAE is aware that mitigating the effects of climate change is a key driver of sustainable social and economic development.
Therefore the UAE adopts a smart and circular economic strategy that encourages the free flow of trade, supply chain efficiency.
And also adopts the latest trade technology innovations, which creates new opportunities for exporters, manufacturers, and investors around the world.
The Abu Dhabi Department of Economic Development continues its efforts to raise the emirate’s trading status to new horizons.
Also it continues to improve its competitive edge as a global center for trade and investment.”
He pointed out that in the period leading up to COP28, Abu Dhabi will host the eighth session of the UNCTAD World Investment Forum.
Which will pave the way for policymakers to work together to address challenges and reach agreements on global issues related to trade and investment”
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