Page 278 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 2:17 PM UAE promotes open, inclusive trade at G20 Trade, Investment Ministerial Meeting in Brazil
Ministerial Meeting is an important platform for addressing the issues impacting global trade, and for
shaping the solutions that will ensure every nation is able to access and benefit from supply chains. The
UAE will continue to use such meetings to champion multilateralism and align with our partners across
the world to ensure trade remains able to deliver long-term, sustainable growth for every nation. We all

agree on the need for key reforms to the WTO and strengthening issues such as dispute resolution.
What we need now is a coordinated action plan to turn proclamations into policies and programs at
regional and international levels.”

During his visit to Brasilia, he held a bilateral meeting with Gan Kim Yong, Deputy Prime Minister and
Minister for Trade and Industry for Singapore, in addition to a number of nations who are part of the
UAE’s Comprehensive Economic Partnership Agreement program. These included talks with Todd
McClay, Minister of Trade for New Zealand, Inkyo Cheong, Minister of Trade for the Republic of South

Korea, Shri Jitin Prasada, Honorable Minister of State, Commerce and Industry of India, George Mina,
Deputy Secretary in the Department of Foreign Affairs and Trade for Australia.

He also met Márcio Elias Rosa, Deputy Minister of the Ministry of Development, Industry, Commerce

and Services of Brazil, and other G20 member blocs, including Valdis Dombrovskis, Executive Vice-
President and Trade Commissioner for the EU, and several of its member nations, including Diana Elena
Mondino, Minister of Foreign Affairs, International Trade and Worship for Argentina; Jonathan Reynolds,
Secretary of State for Business and Trade for the United Kingdom; Helene Budliger, State Secretariat for
Economic Affairs (SECO) for Switzerland; and Wang Shouwen, China International Trade

Representative and Vice Minister of Commerce.

The G20 membership collectively accounts for 85 percent of global GDP and 75 percent of international
trade. In 2023, non-oil trade between the UAE and G20 members surpassed US$393.2 billion, a 54

percent increase compared to 2019, further underscoring the UAE’s growing role as a global trade hub
and key partner for economic collaboration.

RELATED TOPICS

UAE MIDDLE EAST ECONOMY

RELATED COMPANIES

State Department World Trade 3rd United Ministry of European Ministry
Secretariat of Foreign Organization G20 Nations Development, Union of
for Affairs and Trade Industry, Economy
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