Al-Zeyoudi: The changes taking place in the global economy are an opportunity to create constructive trade and investment partnerships to stimulate growth and prosperity
MANAMA, 3rd November, 2017 (WAM) – His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, participated in the Gulf Gateway Investment Forum, which was held in the Bahraini capital, Manama. The annual forum is an important platform to discuss the challenges resulting from global market fluctuations and geopolitical shifts that are reshaping the map of the global economy. During his participation, His Excellency spoke in a session entitled “Dealing with Uncertainty in Global Markets,” where he addressed the impact of uncertainty related to customs duties and trade policies on access to capital and the extent of the readiness of financial and investment entities to deal with these challenges, especially in the Gulf region.
Participating in the session alongside His Excellency were His Excellency Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, and Sir Alistair King, Mayor of the City of London. His Excellency Dr. Al-Zeyoudi said that in light of the changes taking place in the global economy, the Gulf region has become an attractive destination for global capital, as investors are looking for a business environment characterized by clarity, stability and neutrality, and these three elements are provided by the Gulf countries.
He explained that the UAE is at the forefront of countries attracting investment globally, as we recorded record inflows of foreign direct investment during the year 2024, and we ranked second globally in the number of new foreign direct investment projects. His Excellency added: “These unstable times in the global economy hold great opportunities, if we invest boldly in the sectors of the future and take advantage of these variables to expand trade instead of withdrawing from it. By building strong partnerships and employing our joint capabilities in the Gulf countries, we can advance the wheel of growth and prosperity not only for the UAE, but for the entire region and the entire world.” His Excellency Al-Zeyoudi pointed to the comprehensive economic partnership agreements program that the UAE has been implementing since September 2021, which is an example of how to confront protectionist policies by providing a clear and transparent trade environment that enables trade partners and companies to grow.
He added that the UAE has reached 32 agreements under this program, 13 of which have entered into force to date. These agreements have contributed to enhancing non-oil trade and the flow of investments, as UAE non-oil exports to the 13 partner countries in these agreements increased by 130% between 2021 and 2024, while total trade grew by 81% during the same period. The Gulf Gateway Investment Forum is an annual platform that brings together government officials, business leaders, investors and experts from the Gulf countries and beyond, with the aim of discussing investment opportunities, economic trends and enhancing regional cooperation.
The importance of the forum lies in its role in highlighting the economic potential of the region, facilitating cross-border partnerships, facing the challenges of diversification and sustainable growth, in addition to attracting foreign direct investments and supporting the economic diversification agendas of the Gulf countries.
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