Delegation headed by Ministry of Economy shares country’s trade and investment environment
A UAE delegation headed by the Ministry of Economy is currently participating in the 14th United Nations Conference on Trade and Development (UNCTAD 14) which officially launched in the Kenyan capital of Nairobi on (Sunday, July 17, 2016) under the theme ‘From decision to action: Moving towards an inclusive and equitable global economic environment for trade and development.’
The group is being headed by H.E. Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs, and also includes Aisha Al Kubaisi, the Ministry of Economy’s Director of International Organizations Affairs; Hassan Issa Al Houssani, UAE Deputy Ambassador to the Republic of Kenya; and Ali Salem Buharoon, Director of the Federal Competitiveness and Statistics Authority.
Kenyan President Uhuru Kenyatta inaugurated UNCTAD 14 with a speech delivered in the presence of UN Secretary-General Ban Ki-moon and Dr. Mukhisa Kituyi, Secretary-General of UNCTAD. He discussed the need to prioritize African countries in terms of resource development, trade promotion, and mechanisms for sustainable development.
The conference agenda includes various related events, such as the Ministerial Meeting of the Landlocked Developing Countries, the Ministerial Meeting of the Least Developed Countries, the Meeting of the Group of 77 and Senior Chinese Officials, and the 12th meeting of the Advisory Investment Council which includes UNCTAD and the International Chamber of Commerce.
The conference talks will revolve around sustainable development; increased investment towards the development of the ‘green’ economy as well as low-income countries; and investment reforms. They will also touch on dispute settlement; the encouragement of investments in information technology; the promotion of economic capacity in least developed countries; and improvements to the global system of investment agreements.
H.E. Al Kait emphasized UNCTAD’s important role in providing support and advice to developing countries, particularly with regards to trade, development, investment, taxes, and other related issues. He also noted the value of statistical data and analytical reports prepared by UNCTAD and its recommendations to decision makers in various countries, especially developed and least developed nations, provided through the exchange of knowledge and expertise as well as access to the best available international practices.
The Assistant Undersecretary explained that the UAE’s active participation aims to effectively present the country’s leading developmental experience at UNCTAD, defining its dynamic trade and investment environments and highlighting its support for and contributions to the UN’s Sustainable Development Goals for 2030. He added that the conference is an important opportunity for exchanging experiences and learning about the latest global developments related to trade, investment, and development.
UNCTAD 14 will continue until the 22nd of this month and will be participated in by delegates from the 194 UN member states, government and non-governmental representatives, various regional and international organizations, and civil society organizations.