Sultan bin Saeed Al Mansouri, Minister of Economy - as a representative of the state - participated in the extraordinary meeting of the Group of Twenty Trade and Investment at the ministerial level, which was held by default through visual communication in the presence of the ministers of trade, economy and investment in the countries of the group and representatives of a number of international organizations concerned.
This ministerial meeting comes after the end of the work of the group meeting at the level of leaders last week, which was called by the Kingdom of Saudi Arabia to discuss ways of optimal global response to the effects of the crisis of the spread of the Corona virus on global economies.
Today, the meeting stressed the importance of the commitment of the G20 countries to support supply and distribution chains, facilitate trade and ensure the flow of goods, especially those related to facing the Corona epidemic.
His Excellency Sultan bin Saeed Al Mansoori stressed - during his intervention - the importance of the cooperation of the countries of the group at this stage to ensure the safety of trade and the continuity of its activities as an artery to provide the needs of people in various regions of the world and an engine for the return of economic recovery.
Al-Mansouri said: "Medical supplies will not be accessed without trade, and during the current multi-dimensional crisis, health, humanitarian, social and economic, ensuring the smooth flow of cross-border trade and the efficiency of supply chains for basic commodities is crucial, and cooperation today in facilitating cross-border trade is essential. "The application of" comfortable "trade rules is one of the key ingredients to facilitate the movement of goods.
Al-Mansouri touched on the efforts made by the UAE at the national level to push economic growth through ambitious economic development plans and launch appropriate incentive packages to confront the effects of the current crisis on the economy, business, investment and various trade activities, indicating that the UAE is continuously coordinating with the GCC countries The Arab Gulf to take all necessary measures and initiatives collectively and with integrated efforts at the regional level to ensure reducing the negative repercussions of the crisis on trade and investment, and to mobilize efforts to accelerate the economic recovery process.
He stressed the importance of joint work among the countries of the Group of Twenty, in cooperation with various partner countries and organizations, to ensure that intellectual property rights are empowered and protected as a vital matter today to create appropriate conditions for the development and production of new technologies, drugs and vaccines to counter the Corona pandemic, and that governments should also benefit from business and corporate sector experience and establish Fruitful partnerships between the public and private sectors with the aim of participating in mitigating emerging risks.
Al-Mansouri said: "There is an urgent need for a strategic focus on the work of an explicit coordinator and a clear response in appropriate trade policies among all players in the global economy to achieve stability and ensure economic recovery, and called on everyone to pledge to cooperate on an international scale in the most honest and transparent manner in order to protect our economies and achieve growth for our societies. ".
Representatives from a number of relevant international organizations participated in the meeting, along with the ministers responsible for trade and investment in the Group of Twenty, including the World Health Organization, the World Trade Organization, the Organization for Economic Cooperation and Development, the World Bank Group, and the United Nations Conference on Trade and Development "UNCTAD ".