Cairo, 23 July 2022 (TDI): The United Arab Emirates (UAE) participated in the extraordinary ministerial session for the Economic and Social Council of the Arab League, held in Cairo, Egypt.
— UAE Forsan (@UAE_Forsan) July 21, 2022
The meeting was a preparatory session preceding the regular 31st session of the Arab League Summit, that Algeria will host in November.
Juma Mohammed Al Kait, Assistant Under-Secretary at the UAE Ministry of Economy for Foreign Trade Affairs, on behalf of Abdullah bin Touq Al Marri, Minister of Economy, led the Emirati Delegation.
Role of the UAE in Economic and Social Cooperation:
During the session, Al Kait emphasized that the UAE is eager to share its experience in developing the fundamentals of long-lasting action mechanisms to strengthen economic cooperation and integration of Arab countries, through proactive policies and strategies in line with the vision and directives of the country’s leadership to support social and economic initiatives that maintain the sustainability of Arab economies.
Moreover, the UAE also discussed its initiatives to advance the process of joint Arab action to higher levels in future economic sectors.
Adding to this, they focused on three key areas, including the Arab vision of the digital economy.
The UAE also launched a number of programs to train qualified Arab cadres to lead the space sector and support Arab cooperation in space sciences.
The UAE then unveiled its ground-breaking “Regulations Lab” project.
The aim of the project is to present a creative approach to bringing change by developing regulations on emerging technologies with the assistance of executive authorities, the private sector, innovators, and entrepreneurs engaged in developing regulations that allow the nation to keep up with recent innovations.
The participants applauded the UAE’s efforts and valued its endeavor to impart its economic experiences to Arab nations.
The meeting addressed several key issues listed on its agenda, including the progress made in meeting the requirements of the Greater Arab Free Trade Area (GAFTA), the establishment of the Arab Customs Union, ways of promoting cooperation in the digital economy, and ensuring Arab economic growth after the COVID-19 pandemic.