
Economy Middle East Summit 2025, gathers public, private sectors to drive sustainable growth
Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence has officially opened the Economy Middle East Summit 2025, which convened high-level public and private sector leaders to discuss collaborative solutions for sustainable economic transformation. The event was held at Abu Dhabi Global Market (ADGM) under the theme 'Bridging Sectors, Building Economic Growth', and brought together more than 1,500 participants, including policymakers, business leaders, global investors, and technology pioneers.
In his opening address, Sheikh Nahayan welcomed delegates and emphasised the summit's timely focus on collaboration and future-readiness.
He said: "It is a deep personal pleasure to join you at the second edition of the Economy Middle East Summit. We come together as governments, businesses, and stakeholders to share knowledge, forge partnerships, and imagine new possibilities for the future of our economies and our region."
'Today, we gather at a critical moment that demands clarity of vision, boldness of action, and depth of partnership. The global economic landscape is undergoing profound transformation — driven by shifts in trade, geopolitical realignments, technological revolutions, and societal expectations. These changes offer rare windows of opportunity,' he added.
He affirmed the UAE's proactive approach under the leadership of President Sheikh Mohammed bin Zayed Al Nahyan, saying: 'We are fully committed to economic diversification, innovation, and global competitiveness. From smart infrastructure and AI to sustainable finance and forward-looking education, we are building the pillars of future growth.'
Sheikh Nahayan went on to stress regional integration: 'Now is the time to transform our regional ties into corridors of collaboration and opportunity. We must harmonise digital trade regulations, invest in green infrastructure, nurture entrepreneurs, and align our innovation and education systems. By working together, we can ensure that the Middle East is not only resilient — but energised with new possibilities.'
'Bridging Sectors, Building Economic Growth' is not just a slogan — it is a mission. Let us invest boldly, collaborate openly, and build a sustainable, inclusive economic future for our region,' he concluded.
Abdulla bin Touq Al Marri, UAE Minister of Economy, delivered the opening remarks and shared the UAE perspective on navigating the global economy. 'The global economic landscape in 2025 is marked by heightened uncertainty. The IMF's latest World Economic Outlook projects global growth at 2.8 per cent and this year at 3 per cent next year,' the minister said.
Al Marri explained that the slower than usual growth is primarily due to escalating trade tensions and persistent policy uncertainty. He also mentioned the resurgence of protectionist policies, most notably the recent US tariff hikes, which have disrupted trade flows, eroded business confidence, and delayed investments.
He added: 'Our approach is rooted in the belief that economic prosperity is achieved through cooperation, not isolation. By building bridges, we aim to create a more inclusive and sustainable global economy. Our Comprehensive Economic Partnership Agreements (CEPAs) with countries across Asia, Europe, and Africa reflect this commitment, expanding our market access, strengthening supply chains, and accelerating investment flows. These agreements have not only diversified our economic partnerships but have also bolstered our resilience against external shocks. As a result, we expect the impact of recent US tariffs on the UAE economy to remain limited.'
Salem Al Darei, CEO of ADGM Authority said: 'As an official partner of the Economy Middle East Summit, we are pleased to have been part of this platform that brought together influential voices from across the region. The event not only provided an invaluable opportunity for industry experts and leaders to engage in meaningful discussions, but also an opportunity for the ecosystem to listen to and connect on matters that are important for fostering innovation and driving sustainable economic growth.'
"ADGM remains committed to contributing towards a prosperous and sustainable economy by fostering innovation, enabling business growth, and strengthening collaboration between public and private sectors. Through strategic initiatives like these, ADGM continues to play a vital role in shaping the region's economic future," he added.
A high-profile panel featuring Dr Mahmoud Mohieldin, the UN special envoy on Financing the 2030 Agenda; Rashed Al Blooshi, undersecretary of the Abu Dhabi Department of Economic Development; and Safaa El Tayeb El-Kogali, country director for the GCC, World Bank, discussed the world's economic landscape, highlighting key issues that affect global trade, noting that the global economy's order which has been in place for decades, is now changing.
The summit featured an in-depth analysis of the UAE's investment ecosystem, with experts from Visa, the Abu Dhabi Investment Office (ADIO) and the Multiply Group discussing trade and investment opportunities across key sectors.
The panel shed light on the growing adoption of e-commerce and mobile commerce in a rapidly evolving digital landscape.
A related panel on the financial services sector featured speakers from Wio Bank, Finstreet and the Financial Services Regulatory Authority of ADGM who explored the forces reshaping the industry, from digital innovation and regulatory developments to shifting customer expectations and regional growth.
Technology continues to be a major conduit for enabling smart cities to thrive and enhancing living standards across the region, but also in transforming the mobility of people and goods as well as in transitioning to a greener and sustainable economy.
Major stakeholders and thought leaders in this field – from e& and Mercedes-Benz to Siemens and Mubadala – shared optimism on the region's path to technological adoption and innovation.
The experts also examined innovative approaches to decarbonising power systems, enhancing water and energy efficiency, and building infrastructure that supports long-term environmental and economic goals.
Joe Chidiac, publisher of JC Media Group and organisers of the summit, said: 'As we venture into today's journey of dialogue and discovery, I challenge each one of you to embrace the spirit of innovation that has been the hallmark of the UAE and its capital, Abu Dhabi. The partnerships formed here, the ideas exchanged, and the commitments made will ripple beyond these walls to shape economies, empower communities, and create prosperity for generations to come. Together, let us bridge sectors and build not just growth, but a legacy of sustainable economic excellence.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

The National
2 hours ago
- The National
Iranian Foreign Minister in Beirut to 'open new chapter' with Lebanon
Iranian Foreign Minister Abbas Araghchi is in Beirut to meet top Lebanese officials andhopes 'to open a new chapter in relations' with Lebanon as it begins the process of disarming non-state actors and strengthening its national army. The visit, part of Mr Araghchi's tour of the region, comes amid calls for Tehran's strongest proxy group Hezbollah to disarm in Lebanon - an indication of Iran's uncertain regional footing. Mr Araghchi met Lebanese President Joseph Aoun, Prime Minister Nawaf Salam and Parliament Speaker Nabih Berri. The Iranian minister's first meeting was with Lebanese Foreign Minister Youssef Rajji, who is perhaps the strongest critic of Hezbollah in the new Lebanese government and was nominated for his position by the Lebanese Forces – parliament's largest party and an opponent of the Iran-backed group. "They had an absolutely frank meeting," according to a Foreign Ministry source who did not wish to be identified. "They discussed Hezbollah weapons, the negotiations between Iran and the US, rebuilding, south Lebanon, and the issue of respecting Lebanon's sovereignty," the source added. The Iranian FM was receptive to Mr Rajji's concerns and "listened very well." The Lebanese Foreign Minister's office said Mr Rajji emphasised the importance of securing support for Lebanon's reconstruction and economic recovery "exclusively through the Lebanese government and official institutions." The Iranian Foreign Minister said Iranian companies were ready to help with reconstruction efforts if the Lebanese government requested it. Iran, through Hezbollah, has donated money to cover a year's rent and loss of possessions for those who lost their homes during the war with Israel. A source close to Hezbollah said the visit was focused solely on Iran-Lebanon relations. They said Mr Araghchi's visit had nothing to do with negotiations over Iran's nuclear programme. "Iran's role in reconstruction hasn't changed; from the moment the ceasefire took effect, Tehran expressed to the Lebanese government its readiness to actively contribute to whatever Lebanon needs," the source said. "Iran's relationship with Hezbollah is not up for question or debate. It is a historical bond and is treated as such. It has always stood on the side of Lebanon's strength and resilience," they added. On the nuclear issue, Mr Araghchi said a new US proposal submitted via Oman threw up "many ambiguities and questions". Throughout the day, Lebanese officials and the Iranian Foreign Minister repeatedly stressed a desire for a relationship based on mutual respect and non-interference in each other's relations. Lebanon's Foreign Ministry summoned Iran's ambassador to Beirut in April over suggestions that plans to disarm Hezbollah were a "conspiracy". Lebanon faces reconstruction and recovery needs of more than $11 billion, according to a World Bank report published earlier this year. But who will foot that bill remains unclear, with the country bankrupt and the international community weary. Mr Aragchi had earlier been received on arrival on Tuesday by a representative of Mr Berri and two Hezbollah MPs. The Iranian minister will also probably meet officials from Hezbollah, the Lebanese armed group and political party. The whereabouts of its new leader Naim Qassem, who regularly gives televised speeches from an undisclosed location, are unclear. Mr Araghchi last visited Beirut in February to attend the funeral of Hassan Nasrallah, the long-time Hezbollah leader who was assassinated last year in an Israeli bombing on the Lebanese capital. Iranian support had been instrumental in Hezbollah turning into the region's most powerful non-state armed group. But its war with Israel last year has seen Hezbollah's power significantly weakened, although it still remains a critical Lebanese actor. Along with the killing of Mr Nasrallah, almost all of Hezbollah's senior leadership has been wiped out as well as its largest missiles. Lebanon is under pressure from many in the international community, as well as some inside the country, to disarm Hezbollah. President Aoun has said he wants all arms under the control of the state as soon as possible, but insists this must be done through mediation and not force. Mr Araghchi is travelling from Cairo, where he had said Iran is 'ready to provide assurances' that its nuclear programme is peaceful, as Tehran and Washington seek to reach a deal on the issue.


The National
2 hours ago
- The National
Steve Witkoff must testify about 'secret side deal' with Iran, top Democrat says
A leading US senator on Tuesday said special Middle East envoy Steve Witkoff must appear before Congress to face questions about whether the Trump administration is trying to cut a 'secret side deal' with Iran. Mr Witkoff, Secretary of State Marco Rubio and President Donald Trump have repeatedly said Iran will not be allowed to enrich any uranium as part of continuing nuclear talks, including for civilian purposes. But reports by The New York Times and Axios contradict this. They say Washington and Tehran are working on a solution in which Iran could enrich uranium at low levels for civilian use until the US and other nations formulate a larger plan that stops its progress towards a nuclear bomb. 'Steve Witkoff must testify before Congress,' Senator Chuck Schumer, the top Democrat in the Senate, said on X. 'Is there a secret side deal that will allow Iran to continue enriching uranium and empowers Iran's nefarious activity or not?' Whether Mr Witkoff testifies is up to Republicans, who control the US Senate and House of Representatives. The reports also say the proposal suggests the formation of a regional consortium to produce nuclear power, which could include Saudi Arabia and other nations. In a separate video message, Mr Schumer accused Mr Trump of 'folding' to Iran's demands. 'What kind of bull is this? You're going to sound tough in public and then have a secret side eal that let's Iran get away with everything. That's outrageous.' The purported agreement would allow for Iran and the US to find a way past red lines both countries have drawn. Mr Trump has said Iran will not be allowed to enrich 'any' uranium, while Iran has said that its ability to enrich uranium is non-negotiable. When asked about a side deal, State Department spokeswoman Tammy Bruce declined to comment on any negotiations. 'What I can say, though, of course, is that the maximum-pressure campaign on Iran remains in full force,' she told reporters. The Wall Street Journal reported on Sunday that a directive came down last week from White House press secretary Karoline Leavitt to pause all new sanctions activity towards Iran.


Al Etihad
3 hours ago
- Al Etihad
UAE companies highly confident about trade prospects despite global disruption: Survey
4 June 2025 00:23 MAYS IBRAHIM (ABU DHABI)Companies in the UAE are among the most confident globally about their trade prospects despite ongoing geopolitical and supply chain turbulence, according to HSBC's 2025 Global Trade Pulse report – which surveyed more than 5,700 international firms across 13 countries – found that 94% of UAE-based businesses believe their operations will benefit from the shift in trade dynamics in the long surpasses the global average of 89%, putting the UAE just behind India (96%) in terms of optimism, and ahead of the US (93%).This sentiment comes amid a wider reshuffle in global trade patterns, as many companies grapple with increased costs and revenue pressures due to tariffs and supply chain UAE's positive outlook contrasts with a growing sense of caution in Western markets. For example, 51% of US firms surveyed expect supply chain disruptions to reduce their revenue by 25% or more. 'As trade policies continue to fluctuate, businesses are compelled to rethink their long-term strategies. The current landscape demands agility and foresight, with companies prioritising domestic markets and exploring new regions to mitigate risks,' the report stated.'These strategic shifts are crucial to maintaining competitiveness and ensuring business continuity in an unpredictable global economy.'The HSBC survey highlights a global trend of 'reshoring' and 'nearshoring', with 83% of companies planning to bring production closer to their customer bases. Companies in the US have been the most active in reshoring to date (44%), while companies in China are the most likely to be planning similar steps in the future (48%).'In parallel with these shifts in production strategy, the majority of businesses globally (nearly 90%) are also planning to diversify their supplier base – expanding across multiple regions to further reduce their exposure to tariffs and ongoing trade uncertainty,' the report said. While the financial impact of ongoing trade disruption is expected to be substantial and long-lasting, the HSBC survey highlights strong signs of resilience and of corporate all surveyed markets, 77% of companies say the uncertainty has prompted them to evolve and seek new is emerging as a core response strategy, according to the report. Nearly 9 in 10 businesses globally report they have already invested in or are planning to invest in tools to enhance supply chain visibility, adopt automation in production and logistics, or improve their use of data analytics. The same proportion of respondents are expanding into new markets, developing new products, adopting technology, or adjusting cost structures to respond to shifting trade dynamics. Nearly 60% of all respondents have already adopted a new technology or digital platform, while 56% improved internal efficiency or altered their cost base and 51% have developed new products or services.