Page 38 - MOE ENGLISH PR REPORT - JANUARY 2025

Press Release

Minister of Economy highlights investment potential

in circular economy

DAVOS, 23rd January, 2025 (WAM) - Abdulla bin Touq Al Marri, Minister of
Economy, and Chairman of the UAE Circular Economy Council, participated in a session
titled "Turning Plastic Waste into Raw Materials: Fueling the Circular Economy," held at
the 55th Annual Meeting of the World Economic Forum (Davos 2025), themed
‘Collaboration for the Intelligent Age.’

At the session, bin Touq emphasised how the UAE has cemented its strategic position in
the circular economy. He added that the country's proactive initiatives and strategies have
significantly contributed to the global efforts in addressing environmental challenges,
cutting carbon emissions, and reducing waste, aligning with the objectives of sustainable
development.

He pointed out that the UAE was among the first countries to sign the ‘Scale360°’
initiative in a strategic partnership with the World Economic Forum.

During the session, participants delved into the opportunities and challenges in acquiring
plastic waste and converting it into recyclable raw materials.

Discussions also focused on the adoption of advanced recycling technologies and business
strategies to secure a steady flow of raw materials while ensuring environmental
protection.

Moreover, the session examined ways to craft policies that strike an optimal balance
between environmental safety and development.

Bin Touq said, “Accelerating the shift towards a circular economy model is paramount for
achieving sustainable economic and social development in the UAE. It paves the way for
a brighter future for both current and future generations and supports the country’s
aspirations to become the most prosperous society globally by the next decade, in line
with the ‘We the UAE 2031’ vision.”

He also provided an overview of the UAE's journey in developing a comprehensive
circular economy ecosystem in line with international best practices.

A key component is the 'UAE Circular Economy Agenda 2031,' which serves as a
national roadmap that fosters cooperation, driving transformative environmental practices
and promoting sustainable approaches to production and consumption. Additionally, it
aims to encourage investments in natural resources.