Page 959 - MOE ENGLISH PR - MAY 2024

In his speech at the meeting, the UAE Minister of Economy said, "The UAE enjoys
strong strategic economic and political relations with the Central Asian States and the
Republic of Azerbaijan, and the developmental aspirations of both sides meet in a
number of areas of mutual interest. This will drive continued cooperation and exchange
of experiences in the interest of all Arab countries, Central Asian States and
Azerbaijan."

He further noted that the meeting is an important milestone in promoting joint economic
cooperation in various economic sectors by effectively capitalising on the opportunities
and strengths enjoyed by Arab countries, Central Asian States and Azerbaijan.

Bin Touq continued: "In light of the current global economic challenges, we believe it is
important to strengthen cooperation in new and sustainable economic sectors,
especially technology, artificial intelligence, digital transformation and advanced
applications. Tourism, circular economy, green economy, entrepreneurship, and other
future sectors are also equally important. We should also consider exploring new
mechanisms that contribute to facilitating tourism flows between the countries
participating in the Forum. This will promote sustainable tourism development in both
regions by exploiting the tourism potential of all our countries.”

Furthermore, the Minister of Economy elaborated on the UAE’s vision to foster the
growth and sustainability of the tourism and aviation sectors, including the launch of
UAE Tourism Strategy 2031, which aims to raise the sector’s contribution to the GDP to
AED450 billion, and strengthen the UAE’s position as one of the best global tourism
destinations by the next decade. The UAE's national aviation decarbonisation roadmap,
which seeks to achieve an annual production of up to 700 million litres of sustainable
fuel (SAF) by 2030, was also highlighted.

In addition, Bin Touq highlighted the UAE’s strong commitment to pursuing collaborative
efforts, thus contributing to achieving the goals set by the third session of the forum.
These include the development of tourism exchanges between Arab countries, Central
Asia and Azerbaijan through facilitating cooperation between relevant tourism
organisations and entities. Strengthening cooperation in land, sea and air transport
sectors through joint projects and initiatives, besides sharing best practices and
experiences in such vital sectors, are also focus areas.

Furthermore, Bin Touq underscored the UAE’s readiness to share its experience in
facing water scarcity challenges, as the country gained global status in managing its
water resources and devising proper solutions, especially after hosting COP28, which
placed water security on top of its agenda.

In this context, the participants welcomed the Mohamed bin Zayed Water Initiative
(MBZWI), launched in the UAE to increase awareness of the importance of the water
scarcity crisis and its critical effects at the international level. It also accelerates the
development of innovative technological solutions to address this challenge and
enables cooperation with concerned international partners and parties to advance
technology innovation in addressing water scarcity. Besides, it contributes to expanding

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