UAE To Double Re-exports In 7 years, Said By Sheikh Mohammed

Sheikh Mohammed bin Rashid, Dubai’s Prime Minister, and Ruler headed over a Cabinet meeting at Qasr Al Watan on Tuesday. He approved plans to host the International Union for Conservation of Nature (IUCN) World Conservation Congress in Abu Dhabi in 2025 during the meeting.

Sheikh Mohammed bin Rashid stated that around 10,000 environmental activists and specialists from 160 countries would attend the event.

He also underscored that the UAE’s economic journey will indeed continue to prioritize sustainability, environmental preservation, and resource safety for future generations.

In 2022, the top commodities for re-export were smartphones, diamonds, automotive parts, etc

The IUCN World Conservation Congress is an important event in environmental conservation. It is held every four years and brings together experts and decision-makers from all over the world to discuss and address the world’s most serious environmental challenges.

He claims that the impact of recent agreements on the UAE’s foreign trade figures is beginning to emerge. Subject to God’s will, the official predicted that 2023 would be the best economic year in the country’s history.

This is an important declaration because it indicates that the UAE’s efforts to diversify its economy and increase its global trade relations are beginning to bear fruit. In recent years, the country has taken steps to reduce its reliance on oil and petrol exports and to position itself as a trade and investment hub in the Middle East.

The International Union for Conservation of Nature (IUCN) is currently led by Razan Al Mubarak of the United Arab Emirates. The IUCN is a global environmental organization with 1,400 member organizations from 150 countries.

It is a permanent observer member of the United Nations General Assembly, indicating its critical role in advocating for global environmental conservation initiatives.

Razan Al Mubarak, President of the IUCN, is a leading voice on environmental conservation issues, working to advance the organization’s goal of safeguarding nature and biodiversity. Her leadership in this position exemplifies the UAE’s dedication to sustainability and environmental preservation.

The Red List of Threatened Species is the flagship initiative of the International Union for Conservation of Nature (IUCN). The Red List provides detailed information on the conservation status of plant, animal, and fungi species around the world.

Razan Al Mubarak, who currently serves as the President of the IUCN, is a renowned environmentalist with a strong commitment to promoting sustainability and environmental preservation.

In her role as Managing Director of the Mohamed bin Zayed Species Conservation Fund and the Environment Agency Abu Dhabi, she has spearheaded conservation initiatives not only in the UAE but also across the globe.

Ms. Al Mubarak made history in 2021 by becoming the IUCN’s second female president in the organization’s 72-year history. Her appointment recognizes her leadership and expertise in environmental conservation, as well as the organization’s commitment to promoting gender diversity and equality.

The IUCN is expected to play an important role in promoting global efforts to protect biodiversity and combat climate change under Ms. Al Mubarak’s leadership. The work of the organization is critical in addressing some of the most pressing environmental challenges confronting our planet and ensuring a sustainable future for future generations.

Sheikh Mohammed announced that the Cabinet had approved the national agenda for re-export development 2030, with the goal of doubling the UAE’s re-exports over the next seven years. The agenda includes 24 initiatives and programs aimed at accomplishing this goal.

Furthermore, the agenda aims to increase the UAE economy’s added value through re-exports by 50% over the next seven years by leveraging the country’s 50 commercial representative offices around the world.

To that end, the UAE intends to establish an International Trade Links Centre, launch supportive programs, and increase foreign investment in the service sector in collaboration with local governments.

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According to the most recent data, the UAE’s non-oil foreign trade reached a new high of Dh2.23 trillion ($607.1 billion) last year. As the Arab world’s second-largest economy, the UAE has increased its efforts to reduce its reliance on hydrocarbons and expand its global economic partnerships.

Re-exports accounted for 27.5% of total non-oil trade in 2021, up from 26.9% in 2015. Smartphones, diamonds, automotive parts, jewellery, and gemstones were the top commodities for re-export in 2022.

The Higher Commission for Free Trade Negotiations presented its findings at the Cabinet meeting, which Sheikh Mohammed reviewed.

The UAE has signed comprehensive economic partnership agreements (Cepas) with India, Israel, Indonesia, and Turkey, and is in negotiations with a number of other countries.

Furthermore, at the Cabinet meeting, over 19 initiatives to strengthen the UAE’s position as a global talent hub were evaluated. According to Sheikh Mohammed, the UAE is ranked second in the world in terms of senior specialized managers.

The goal is to instill best practices and refine Emirati graduates’ skills so that they can look at the bigger picture.