Page 423 - MOE ENGLISH PR REPORT - JANUARY 2024

status, covering document requirement guidelines and a roadmap to progress
from basic to advanced levels of sustainability, and a standardised application
process and complete eligibility criterion for accreditors in the participating
countries. The framework will be overseen by a central body headquartered in
the UAE.

The initiative was announced at the World Economic Forum annual meeting in
Davos by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign
Trade, during a panel discussion titled ‘A New Trade Order: Inclusive Growth’.

The panel, which gathered ministers, policymakers, and academics to explore
means to better integrate LDCs, MSMEs, and female and youth-led
businesses into global trade, highlighted the need to help emerging
enterprises keep pace with increasing consumer demand for products and
services that comply with green standards.

Launching the initiative, Al Zeyoudi emphasised that MSMEs have a pivotal
role in driving the transition toward a lower-carbon economy. However, the
contribution of MSMEs such as those run and operated by underrepresented
groups including women and youth can only be unlocked through targeted
and customised support that reduces time, cost and resource constraints
associated with environmental regulatory compliance.

Al Zeyoudi said, “Accounting for almost 90 percent of global businesses,
MSMEs must have full access to the global trading system if our vision of a
more sustainable and equitable global economy is to be realised. These
enterprises are also important agents of change, with the flexibility and
singularity of focus required to drive sustainability across value chains.

The development of the EcoMark Global Accreditation as an accessible and
universally recognised platform will help them both find and compete in new
markets around the world, and meet the growing demand for sustainable
products and services.”

Al Zeyoudi said the announcement builds on the progress made at COP’s first
ever Trade Day held in Dubai last month, where the UAE hosted a series of
critical conversations on the contribution of trade to the climate change
challenge. As Chair of the WTO’s 13th Ministerial Conference (MC13) in Abu

Dhabi in February, he said EcoMark underlines the UAE’s commitment to

https://asianlite.com/2024/top-news/uae-launches-green-accreditation-framework-for-msmes/