The World Trade Organization’s (WTO) Deputy Director-General Johanna Hill has emphasised the importance of UAE investments in a number of areas, such as services, artificial intelligence (AI), digital services, sustainable development, and the green economy, pointing out that these investments will significantly alter the UAE’s economy going forward.
The UAE is playing an incredible role in world trade,” Hill told the Emirates News Agency (WAM) on the fringes of the fourth Global Trade and Supply Chain Summit, which Economist Impact organised in collaboration with the New Economy Academy in Dubai. He also said that the trade agreements the UAE has signed with other nations are evidence of this commitment.
She added that the UAE’s holding of the 13th Ministerial Conference (MC13) in Abu Dhabi demonstrated its dedication to strengthening the international trading system. According to Hill, the UAE will be able to take advantage of opportunities brought about by shifts in the international trade system because of its strategic approach.
Following a 1.4 per cent drop in global trade last year, the WTO’s growth predictions for merchandise trade are predicted to increase by 2.6 per cent this year and 3.3 per cent in 2025, according to the WTO’s Deputy Director-General. She added that last year’s 9% growth in services trade indicated a promising year and the one to come.
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