Sharjah 24 – WAM: Dr. Adnan Hamad Al Hammadi and Ahmed Abdullah Al Shehhi, members of the Federal National Council (FNC) Parliamentary Division, participated in the 10th consultative meeting of the Association of Senates, Shura and Equivalent Councils of Africa and the Arab World (ASSECAA), which was held in Eswatini.
The meeting discussed the impact of various international crises on African and Arab economies and the importance of the green economy in achieving sustainable development goals in Africa and the Arab region.
During the event, Dr. Al Hammadi said that the global economy had faced a series of damaging and connected crises, such as the COVID-19 pandemic, the complex economic environment, and geopolitical conflicts and how they affect markets, raw materials and energy.
He also praised the UAE’s smart and forward-thinking economic vision, which is based on openness, diversity, flexibility and sustainability, stressing that the country has implemented appropriate strategies and plans for its future economic growth.
According to the WTO's Global Trade Outlook and Statistics report, the UAE ranked 11th in terms of exports of commodities and was the 18th importer of global merchandise goods trade worldwide.
In terms of commercial service exports, the UAE came in 12th with $154 billion, or 2.2% of the global total, with imports totalling $95 billion, or 1.5% of all commercial services imported globally, bringing the country's total trade in service with the rest of the world to $249 billion.
The UAE has updated its laws to attract more investments and offer many facilities and incentives to investors, he added, urging the meeting’s attendees to join the World Trade Organisation’s (WTO) Parliamentary Conference in Abu Dhabi in early 2024, which will coincide with the 13th WTO Ministerial Conference, which the UAE is proud to host.
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