UAE Cabinet Approved 24 National Initiatives To Double Re-exports In Seven Years

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, presided over an Abu Dhabi Cabinet meeting on Tuesday at the Al Watan Palace. During the meeting, the Cabinet approved 24 national initiatives aimed at tripling the UAE’s re-exports over the next seven years by 100%.

The UAE has always been a major trading hub for goods and services, and Sheikh Mohammed pointed out the significance of leveraging the country’s extensive network of 50 commercial offices worldwide to achieve this ambitious goal.

These initiatives are intended to strengthen the UAE’s position as an international trade and commerce hub, as well as to promote economic diversification.

His Highness reviewed more than 19 initiatives aimed at making the UAE the global talent capital

Re-exports are goods that are imported into a country and then exported with little or no modification or transformation. In other words, these goods are not consumed in the United States but are exported to other countries. Because of its strategic location between Asia, Africa, and Europe, the UAE has long been a hub for re-exported goods.

The UAE aims to strengthen its position as a global trade and commerce leader by doubling re-exports over the next seven years. These initiatives are expected to provide a significant boost to the country’s economy and promote long-term growth.

Sheikh Mohammed stated in a tweet that the Cabinet-approved initiatives aim to double re-exports by leveraging the country’s global network of commercial offices. These initiatives include the creation of new free zones as well as the creation of digital infrastructure to facilitate trade and logistics.

During the Cabinet meeting, His Highness Sheikh Mohammed Bin Rashid Al Maktoum reviewed more than 19 initiatives aimed at making the UAE the capital of global talents,  moreover as the initiatives aimed at doubling re-exports.

He emphasized that the UAE is ranked second in the world in the index of senior specialized managers, and the country intends to transfer best practices and refine its national functionaries to be global in thinking, professional in performance, and competitive in capabilities.

Furthermore, the Cabinet reviewed the work of the Supreme Committee for Free Trade Negotiations. Sheikh Mohammed stated that the UAE has signed comprehensive economic partnership agreements with four countries and that negotiations with numerous other countries are ongoing.

He further said that the impact of these agreements on the country’s foreign trade figures is already visible.

Sheikh Mohammed also expressed confidence in the UAE’s economic growth, predicting that 2023 will be the best year in the country’s history.

He thanked all government entities involved in the development and implementation of these initiatives and urged them to continue their efforts to help the country achieve its economic objectives.

initiatives regarding trade and commerce, During the Cabinet meeting, Sheikh Mohammed Bin Rashid Al Maktoum also announced that the UAE will host the International Conference for the Protection of the Environment in 2025. 10,000 environmental specialists and experts from 160 countries are expected to attend this conference.

The conference highlights the UAE’s commitment to environmental conservation and sustainability, and it is expected to provide a forum for environmental experts and specialists to discuss and exchange knowledge and ideas. The conference is also expected to underline the UAE’s role as a regional leader in environmental conservation.

The re-formation of two councils, the Digital Quality of Life Council and the Emirates Genome Council has been announced at the Cabinet meeting presided over by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. Sheikh Saif Bin Zayed Al Nahyan will lead the Digital Quality of Life Council, while Khalid Bin Mohamed Bin Zayed will lead the Emirates Genome Council.

The goal of these councils is to improve the quality of digital and healthy life for all UAE citizens and residents. The Digital Quality of Life Council will work to improve the quality of digital services and infrastructure in the UAE, such as internet access and e-government services.

It will also promote digital literacy and empower individuals and businesses to make the best use of digital technology.

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The Emirates Genome Council, on the other hand, will promote genomics and personalized medicine research and development. This includes developing research policies and strategies, identifying areas of opportunity for investment and collaboration, and raising public awareness of the benefits of genomics.

The foundation of these councils demonstrates the UAE’s commitment to achieving excellence in a variety of fields.

The Digital Quality of Life Council will work to improve digital services and infrastructure, resulting in increased productivity and competitiveness, while the Emirates Genome Council will promote genomics innovation, allowing the country to remain at the forefront of personalized medicine.

These initiatives will help the UAE achieve its vision of long-term growth and development, making it an appealing destination for businesses, investors, and talent from around the world.