UAE to adopt new foreign trade policy

September 2nd, 2010 - 11:30 pm ICT by IANS  

Abu Dhabi, Sep 2 (IANS/WAM) The United Arab Emirates will rework its foreign trade policy to enhance the country’s position in global markets, a minister said Thursday.
Foreign Trade Minister Sheikha Lubna Al Qassimi said the ministry is working on realistic policies and innovative models to enhance the UAE’s trade globally in tandem with government’s vision and its developmental strategy.

During her annual Ramadan meeting with employees of the ministry, Sheikha Lubna said the ministry relies on new methodologies and sophisticated and modern tools to develop the components of the country’s foreign trade, increase national exports, develop the UAE’s global trade position and face challenges in regional and global markets.

She asked the employees to take initiatives, strengthen the presence of UAE products in global markets and increase foreign investment in UAE markets, which will raise the competitiveness of UAE economy worldwide.

The UAE ranked 19 among the most important countries in commodity exports in a 2009 WTO report, made up two places in the “Global Enabling Trade Report” issued by the World Economic Forum, topped the list of Middle East and North African countries and ranked 16th worldwide.

–IANS/WAM

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