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5/10/24, 2:26 PM UAE and Iran hold meet to promote cooperation in new economy sectors - GulfToday
The inaugural UAE-Iran JEC session also discussed new mechanisms to
enhance trade exchanges and the key role played by the private sector in
promoting economic cooperation. The provision of all means of support to
exporters and importers to facilitate trade exchanges and the diversification of
these goods and services; and the opening of new communication channels
between the two private sectors also formed part of the discussions.

The two sides agreed to establish joint technical task forces to follow up on the
implementation of the Committee’s outputs, which outline economic and trade
cooperation in the immediate future. The JEC also agreed to provide various
programs and facilities to promote the growth of SMEs and support their
exports in entering new markets.

Furthermore, the two sides explored the strengthening of cooperation and
investment in sectors and activities related to tourism, trade, traditional energy,
renewable energy and industry, R&D, institutional innovation, the exchange of
knowledge in financial markets, entrepreneurship, agriculture and aviation.

A few days earlier, Abdullah Bin Touq Al Marri, Minister of Economy, led the
UAE delegation at the World Economic Forum (WEF) Special Meeting on
Global Collaboration, Growth and Energy for Development in Riyadh, Saudi
Arabia, which was held on 28th and 29th April. The delegation included
Abdullah Ahmed Al Saleh, Under-Secretary at the Ministry of Economy.

At the forum, Bin Touq took part in a session on the future of sustainable
tourism development and leveraging tourism’s potential as a primary driver for
agile economic growth.

Acknowledging the tourism sector’s key role in boosting global economic
growth, Bin Touq said that it also serves as a key pillar in the achievement of
SDGs by 2030. This is due to its significance and broad impact on delivering
sustainable development for nations through increasing revenues, attracting
FDI, creating job opportunities, establishing varied tourism ventures, and
enhancing transport infrastructure.

Bin Touq explained that in addition to contributing to the growth of related
services and industries such as hospitality, transport services, leisure and retail
sectors, tourism contributes to creating job opportunities for people of all ages,
reducing unemployment rates. He further pointed out that by 2033, this
dynamic sector is projected to boost its contribution to the global GDP to $15.5
trillion, accounting for 11.6 per cent of the world economy. It is expected to
provide employment for around 430 million individuals globally, which makes up
almost 12 per cent of the global workforce, as per the World Travel and Tourism
Council’s projections.

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