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10/29/24, 2:18 PM UAE advocates open, inclusive trade at G20 TIMM
Sustainable Development Goals.
Al Zeyoudi also encouraged G20 members to leverage technology to promote greener, more efficient trade practices, which can
make an important contribution to the challenges of both climate change and supply-chain disruption. He welcomed the
publication of the “G20 Compendium of Best Practices to Increase Women’s Participation in International Trade,” noting that
women-run SMEs are central to the economies of emerging markets and need equitable access to international markets.
Al Zeyoudi said the Ministerial Meeting was an opportunity for the UAE to advocate for trade as a vital bridge between nations
and a driver of productivity and innovation. “The G20 Trade and Investment 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.
Championing multilateralism
“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 programmes at regional and international levels,” he said.
During his visit to Brasilia, Al Zeyoudi 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, Jitin Prasada, 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 UK; 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% of global GDP and 75% of international trade. In 2023, non-oil trade between
the UAE and G20 members surpassed $393.2 billion, a 54% increase compared to 2019, further underscoring the UAE’s growing
role as a global trade hub and key partner for economic collaboration.--TradeArabia News Service
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