Maktoum bin Mohammed attends part of the activities of the first session of the ASEAN Global Business Forum
404 billion dirhams of non-oil trade between Dubai and "ASEAN" within 5 years
Maktoum bin Mohammed during his attendance of the Global Business Forum for ASEAN countries.
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Yesterday, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed part of the activities of the first edition of the ASEAN Global Business Forum, organized by the Dubai Chamber of Commerce, in cooperation with Expo 2020 Dubai.
In addition, officials participating in the forum's activities stated that the volume of non-oil trade between Dubai and (ASEAN) in the past five years amounted to nearly 110 billion dollars (404 billion dirhams), while the number of companies of the countries of the (ASEAN) region registered in the membership of the Dubai Chamber exceeded There are 3,300 companies operating in the emirate, a growth of 35.5% compared to 2018.
Forum activities
In detail, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed yesterday part of the activities of the first edition of the "Global Business Forum for ASEAN Countries", organized by the Dubai Chamber of Commerce, in cooperation with "Expo 2020 Dubai". Under the slogan “Cross-Border Economic Partnerships”.
His Highness attended a session entitled "A radical transformation... from building economic blocs to developing global ties", during which Minister of State for Foreign Trade, Dr. Thani Al Zeyoudi, and Secretary General of the Association of Southeast Asian Nations (ASEAN), Dato Lim Jok Hui, spoke. On the series of transformations and profound changes witnessed by the Association of Southeast Asian Nations and the Emirates during the past fifty years.
Al Zeyoudi touched on the importance of holding Expo 2020 Dubai at this particular time when economies are recovering and starting to emerge from the pandemic crisis, stressing that “this global event gives us an opportunity to strengthen partnerships and relations with various countries, especially as it witnesses the participation of about 192 countries.” .
Al Zeyoudi stressed the importance of the ASEAN region due to its large population and huge GDP, which provides tremendous opportunities for cooperation with its countries to develop supply chains and conclude partnerships.
He noted that the UAE looks positively at this region, whose countries have an economy of about three trillion dollars, compared to the countries of the Cooperation Council for the Arab States of the Gulf, which has a trillion dollars, which makes integration between the economies of the countries of the two regions vital and fruitful for all parties.
He referred to the advanced logistical model in the ASEAN region and the great foreign investment opportunities it offers, praising the efforts of the Dubai Chamber to enhance the UAE's partnership with it, which made the country among the most important investors in it.
digital economy
During the session, Dato Lim Jok Hui stressed the importance of the UAE in general and Dubai in particular for the ASEAN countries, stressing that the latter is a distinguished place for investment in many areas, including the digital economy and e-commerce thanks to its large population of about 660 million. breeze.
Dato concluded his speech by referring to the promising opportunities that the UAE and ASEAN countries can cooperate to seize, in the sectors of green technology, green infrastructure, energy and supply chain linkage.
Boosting Investments
In her turn, Minister of State for International Cooperation and Director General of Expo 2020 Dubai, Reem Al Hashemi, stressed in her speech during the forum, titled "A Call for Cooperation", that the UAE is moving forward in enhancing its investments within the "ASEAN" countries, and continuing its superiority in this field. She pointed out that the UAE accounts for about 70% of Gulf investments in these countries.
She stressed the importance of holding the forum to discuss prospects for enhancing cooperation between the UAE and the "ASEAN" countries, especially as it coincides with a historic moment for the country represented in the "Expo 2020 Dubai".
In a session entitled "Harnessing Technology for the Future", Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, spoke about the possibility of employing and harnessing technology and innovation in developing knowledge-based economies.
He stressed that "the UAE is optimistic about the growth of the economy based on knowledge and advanced technology with the (ASEAN) region during the next stage, as it has strong potentials and is a major partner of the UAE."
He explained that "the business community in the country is aware of the great technological progress of the Emirates, which has made it an attractive business center in the region, as the Emirates, thanks to the insightful vision of its leadership, has proven its advanced capabilities in this field, especially during the pandemic period, with the rapid and direct transformation of the education and government services sectors into fully digital." .
He stated that the UAE attracts more than 62% of foreign direct investment in digital economy companies in the region, due to its strong digital infrastructure, which is characterized by speed, security and the ability to quickly adapt to various changes, relying on modern technology and technologies.
He pointed out that one of the most important challenges facing attracting investments in the technology field in the region is the insufficient understanding among investors about the importance of advanced technologies and their latent capabilities that support ease of life and enhance the business environment.
In his speech during the forum, Chairman of the Board of Directors of the Dubai Chamber, Abdulaziz Al Ghurair, said: “The number of companies in the (ASEAN) region registered in the membership of the Dubai Chamber and operating in the emirate has exceeded 3,300 companies, with a growth rate of 35.5% compared to 2018, which is a strong indication of the importance of The Dubai market and its attractiveness to companies from the (ASEAN) region, which finds in the emirate a promising market with distinct opportunities for its activities, and a strategic center for expansion and management of its operations in the region.
He added, "The volume of non-oil trade between Dubai and (ASEAN) in the past five years amounted to nearly 110 billion dollars (404 billion dirhams), however, there is huge potential to expand bilateral trade further, and to benefit from the current aspects of cooperation."
Dubai is a role model for the world in dealing with the “Covid-19” crisis
Participants in the activities of the first day of the Global Business Forum for ASEAN countries stated that Dubai is a role model for the world due to its ability to deal with the challenges arising from the outbreak of the “Covid-19” pandemic, noting its flexibility in taking steps that contribute to openness to the global economy and ensuring health and safety. residents and visitors.
The Chairman of the Board of Directors of the Kanoo Group, Mishaal Hamad Kanoo, said: "We must stop creating terror in global societies when any crisis emerges, and work jointly to prevent the re-closure of the global economy because it will greatly affect the gains made during the past period." .
He added, "Closing the borders again greatly affects the economies of countries, and we must continue to communicate and encourage it between all countries."
He continued, "Dubai is a role model for the world in dealing with the (Covid-19) crisis, and it was one of the first cities to open up to the global economy, and it returned thanks to a good vision to achieve positive growth rates in the main economic sectors."
For his part, the Minister of Trade and Industry of the Philippines, Ramon Lopez, said, “The RCEP will provide many important economic opportunities, and we are seeking to adopt the agreement by many other countries, which will enable raw materials to be obtained at lower prices and market access. ».
In turn, the President of the Association “Italy-ASEAN” and former Italian Prime Minister, Professor Romano Prodi, said that “business models must focus on external supply with the best partner, and the Economic Partnership Agreement emphasizes the possibility of establishing partnerships with non-member countries at the world level, Thus, the agreement is in the interest of the whole region.”
Thani Al Zeyoudi:
• "(Expo) gives us the opportunity to strengthen partnerships and relations with various countries, as it witnesses the participation of about 192 countries."
Omar Sultan Al-Ulama:
• «The UAE is optimistic about the growth of the economy based on knowledge and advanced technology with (ASEAN) during the next stage».
Reem Al Hashemi:
• "The UAE accounts for about 70% of the Gulf investments in the (ASEAN) countries."
• The "Forum" is organized by the Dubai Chamber, in cooperation with "Expo 2020", under the slogan "Cross-Border Economic Partnerships".
The number of ASEAN companies registered in the Dubai Chamber membership is 3,300, with a growth of 35.5% compared to 2018.
• Promising opportunities that the UAE and ASEAN countries can cooperate to seize in green technology, energy, and supply chain connectivity.
• Promising opportunities that the UAE and ASEAN countries can cooperate to seize in green technology, energy, and supply chain connectivity.
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