Latest news with #AlKait
Mid East Info
24-05-2025
- Business
- Mid East Info
UAE Delegation Attends 15th BRICS Trade Ministers Meeting in Brazil - Middle East Business News and Information
H.E. Al Kait: 'The UAE is dedicated to fostering trade and economic collaboration among BRICS nations and internationally. We view our role as a bridge between East and West and the Global South facilitating dialogue and partnerships.' Brasília, Brazil – May, 2025: The United Arab Emirates, represented by H.E. Juma Mohammed Al Kait, Assistant Undersecretary of International Trade Affairs, of the Ministry of Economy participated in the 15th BRICS Trade Ministers Meeting held in Brasília, Brazil. H.E. Al Kait reaffirmed the UAE's commitment to strengthening partnerships and seeking new opportunities for increased trade, investment, and collaboration among BRICS nations. The member states exchanged views on pressing global trade developments and reaffirmed their strong support for a fair and rules-based multilateral trading system. The meeting concluded with the endorsement of several key documents aimed at deepening economic cooperation and enhancing BRICS' role in global trade governance. Together, these outcomes reflect a unified commitment to enhancing the bloc's work to promote closer trade relations and economic prosperity. The meeting also provided the UAE with the opportunity to shed light on the robust bilateral relationship with Brazil, a founding member of BRICS, focusing on the success of various joint initiatives that have further expanded the UAE's relations with its largest trading and investment partner in South America. With non-oil bilateral trade between the UAE and Brazil reaching US$5.4 billion in 2024 – a notable 23% increase from the previous year – the two nations are poised to enhance their collaboration across various sectors, including energy, infrastructure, and technology. H.E. Al Kait said the BRICS trade partnership ensure that we can successfully work together to find solutions and is a clear demonstration of the importance of global trade multilateralism, adding that 'The UAE is dedicated to fostering trade and economic collaboration among BRICS and internationally. We view our role as a bridge between East and West and the Global South, facilitating dialogue and partnerships that drive sustainable economic development and growth.' The UAE's strategic engagement with BRICS reflects its broader commitment to global economic cooperation and diplomacy. By actively participating in the dialogue, the UAE is reinforcing its position as a key economic and diplomatic leader, championing inclusive development and addressing the challenges of a rapidly changing world. As the UAE continues to strengthen its partnerships within BRICS, it remains focused on advancing joint initiatives that align with the bloc's shared vision of fostering global economic inclusivity and resilience. The BRICS Trade Ministers' Meeting is an annual event that coincides with the BRCS summit and represents an important platform to strengthen ties, coordinate efforts and to foster trade and economic initiatives. BRICS is comprised of Brazil, Russia, India, China, South Africa, (original members) and has expanded in recent years to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. Collectively, the BRICS nations represent a significant portion of the global economy, accounting for approximately 40% of the world's population and around 25% of global GDP. The UAE became a member of BRICS in 2024, reflecting its strategic focus on expanding diplomatic and economic ties with markets throughout the world to further enhance its role in driving global economic growth and prosperity.
Dubai Eye
23-05-2025
- Business
- Dubai Eye
UAE stresses trade cooperation, investment growth at BRICS meeting
The UAE has emphasised its commitment to global trade cooperation and economic partnership at the 15th BRICS Trade Ministers Meeting in Brasília, Brazil. Representing the UAE was Juma Mohammed Al Kait, Assistant Undersecretary of International Trade Affairs at the Ministry of Economy. Al Kait highlighted the country's focus on boosting trade, investment and collaboration among BRICS nations, positioning the UAE as a vital bridge between East and West, and the Global South. BRICS member states discussed key global trade challenges and expressed firm support for a fair, rules-based multilateral trading system. The meeting concluded with the adoption of several key documents aimed at enhancing economic cooperation and BRICS' influence in global trade. The UAE also highlighted its strong bilateral ties with Brazil, pointing to successful joint initiatives and a 23 per cent rise in non-oil trade in 2024, reaching $5.4 billion (AED 19.83 billion). Both countries are set to deepen cooperation in sectors such as energy, infrastructure and technology. The annual BRICS Trade Ministers' Meeting coincides with the broader BRICS summit and is a major forum for strengthening international trade relations. BRICS comprises Brazil, Russia, India, China, South Africa (original members) and has expanded in recent years to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the UAE. Collectively, the BRICS nations represent a significant portion of the global economy, accounting for nearly 40 per cent of the world's population and around 25 per cent of global GDP. The UAE became a member of BRICS in 2024.
Web Release
25-03-2025
- Business
- Web Release
UAE says supply-chain accessibility is key to economic growth during G20 Trade and Investment working group
The UAE has reaffirmed its commitment to supporting an open, rules-based trading system that promotes sustainable economic development, employment, industrialization, and shared prosperity during a meeting of the G20 Trade and Investment Working Group. Participating in the session as a specially invited guest of South Africa, who holds the G20 presidency for 2025, the UAE delegation also expressed its support for the integration of developing economies into global supply chains, the importance of achieving a just green transition and the ongoing reform of the World Trade Organization (WTO) as a means of upholding a free, fair, and inclusive multilateral trading system. The UAE delegation was headed by His Excellency Juma Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, and included representatives of the Ministry of the Economy and the Ministry of Investment. In his remarks to the working group, HE Juma Al Kait said the UAE trade agenda is closely aligned with the priorities of South Africa's presidency, in particular the structural transformation of the African continent and the development of African Continental Free Trade Area. The UAE, he said, has now concluded Comprehensive Economic Partnership Agreements with five African nations – Kenya, Central African Republic, Congo-Brazzaville, Morocco and Mauritius – and has opened discussions with many more to expand the benefits of free trade and boost investment in key sectors. His Excellency Al Kait also underlined the UAE's investment into regional value chains, citing the UAE's Africa Economic Corridor Strategy, which aims to increase trade by supporting the development of new logistics hubs across Sub-Saharan Africa, and the contribution of Abu Dhabi Ports and DP World to the development of integrated logistics solutions for African businesses. This is in addition to the UAE's support for green industrialization, which is another core focus of South Africa's G20 presidency. His Excellency noted the UAE's significant investments in renewable energy ventures, with commitments of more than US$16.8 billion across 70 countries, the majority of them in the developing world. In the final session, the UAE highlighted the importance of ensuring the WTO is able to fulfil its mandate as the custodian of the global trading system, especially in its ability to address economic asymmetries. He noted the unprecedented progress made on the areas of agriculture and fisheries at the 13th Ministerial Conference (MC13) of the WTO, which was held in Abu Dhabi in February, 2024, and expressed hope that consensus could be found at MC14 in Cameroon next year. His Excellency Juma Al Kait said the Working Group is an important opportunity to build consensus among the global trading community and make the case for open, rules-based trade: 'The United Arab Emirates believes that trade is the main driver of sustainable economic development, positively impacting investment, industrialization, job creation and innovation. It is incumbent on us to ensure the global trading system is inclusive and accessible – especially as we confront a rapidly evolving trading landscape. The G20's trade priorities for 2025 are fully aligned with our own foreign trade agenda, and the Ministry of Economy and the Ministry of Investment will continue to actively contribute to this year's TIWG sessions to ensure the benefits of trade are shared equally and equitably.' The Trade and Investment Working Group, which was held virtually between March 18-20, was the first to be convened under South Africa's presidency of the G20. There will be three further Working Group meetings before the Ministerial Meeting on October 10 in Gqeberha, South Africa. The G20 Presential Meeting will take place in Johannesburg in November.
Al Etihad
24-03-2025
- Business
- Al Etihad
UAE participates in 'G20 Trade and Investment Working Group' meeting
24 Mar 2025 17:04 ABU DHABI (WAM) The UAE has reaffirmed its commitment to supporting an open, rules-based trading system that promotes sustainable economic development, employment, industrialisation, and shared prosperity during a meeting of the G20 Trade and Investment Working in the session as a specially invited guest of South Africa, who holds the G20 presidency for 2025, the UAE delegation also expressed its support for the integration of developing economies into global supply chains, the importance of achieving a just green transition, and the ongoing reform of the World Trade Organisation (WTO) as a means of upholding a free, fair, and inclusive multilateral trading UAE delegation was headed by the Assistant Under-Secretary for International Trade Affairs at the Ministry of Economy, Juma Al Kait, and included representatives of the Ministry of the Economy and the Ministry of his remarks to the working group, Al Kait said the UAE trade agenda is closely aligned with the priorities of South Africa's presidency, in particular the structural transformation of the African continent and the development of the African Continental Free Trade UAE, he said, has now concluded Comprehensive Economic Partnership Agreements with five African nations – Kenya, Central African Republic, Congo-Brazzaville, Morocco, and Mauritius – and has opened discussions with many more to expand the benefits of free trade and boost investment in key Kait also underlined the UAE's investment into regional value chains, citing the UAE's Africa Economic Corridor Strategy, which aims to increase trade by supporting the development of new logistics hubs across Sub-Saharan Africa, and the contribution of Abu Dhabi Ports and DP World to the development of integrated logistics solutions for African is in addition to the UAE's support for green industrialisation, which is another core focus of South Africa's G20 noted the UAE's significant investments in renewable energy ventures, with commitments of more than $16.8 billion across 70 countries, the majority of them in the developing the final session, the UAE highlighted the importance of ensuring the WTO is able to fulfil its mandate as the custodian of the global trading system, especially in its ability to address economic noted the unprecedented progress made in the areas of agriculture and fisheries at the 13th Ministerial Conference (MC13) of the WTO, which was held in Abu Dhabi in February 2024, and expressed hope that consensus could be found at MC14 in Cameroon next year. Al Kait said the Working Group is an important opportunity to build consensus among the global trading community and make the case for open, rules-based trade, 'The United Arab Emirates believes that trade is the main driver of sustainable economic development, positively impacting investment, industrialisation, job creation and innovation. It is incumbent on us to ensure the global trading system is inclusive and accessible – especially as we confront a rapidly evolving trading landscape. The G20's trade priorities for 2025 are fully aligned with our own foreign trade agenda, and the Ministry of Economy and the Ministry of Investment will continue to actively contribute to this year's TIWG sessions to ensure the benefits of trade are shared equally and equitably.'
Zawya
24-03-2025
- Business
- Zawya
UAE says supply-chain accessibility is key to economic growth during G20 Trade and Investment working group
HE Juma Al Kait: 'We believe that trade is the main driver of economic development, positively impacting investment, industrialization, job creation and innovation, and it is incumbent on us to support a global trading system that is inclusive and accessible'. Abu Dhabi – The UAE has reaffirmed its commitment to supporting an open, rules-based trading system that promotes sustainable economic development, employment, industrialization, and shared prosperity during a meeting of the G20 Trade and Investment Working Group. Participating in the session as a specially invited guest of South Africa, who holds the G20 presidency for 2025, the UAE delegation also expressed its support for the integration of developing economies into global supply chains, the importance of achieving a just green transition and the ongoing reform of the World Trade Organization (WTO) as a means of upholding a free, fair, and inclusive multilateral trading system. The UAE delegation was headed by His Excellency Juma Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, and included representatives of the Ministry of the Economy and the Ministry of Investment. In his remarks to the working group, HE Juma Al Kait said the UAE trade agenda is closely aligned with the priorities of South Africa's presidency, in particular the structural transformation of the African continent and the development of African Continental Free Trade Area. The UAE, he said, has now concluded Comprehensive Economic Partnership Agreements with five African nations – Kenya, Central African Republic, Congo-Brazzaville, Morocco and Mauritius – and has opened discussions with many more to expand the benefits of free trade and boost investment in key sectors. His Excellency Al Kait also underlined the UAE's investment into regional value chains, citing the UAE's Africa Economic Corridor Strategy, which aims to increase trade by supporting the development of new logistics hubs across Sub-Saharan Africa, and the contribution of Abu Dhabi Ports and DP World to the development of integrated logistics solutions for African businesses. This is in addition to the UAE's support for green industrialization, which is another core focus of South Africa's G20 presidency. His Excellency noted the UAE's significant investments in renewable energy ventures, with commitments of more than US$16.8 billion across 70 countries, the majority of them in the developing world. In the final session, the UAE highlighted the importance of ensuring the WTO is able to fulfil its mandate as the custodian of the global trading system, especially in its ability to address economic asymmetries. He noted the unprecedented progress made on the areas of agriculture and fisheries at the 13th Ministerial Conference (MC13) of the WTO, which was held in Abu Dhabi in February, 2024, and expressed hope that consensus could be found at MC14 in Cameroon next year. His Excellency Juma Al Kait said the Working Group is an important opportunity to build consensus among the global trading community and make the case for open, rules-based trade: 'The United Arab Emirates believes that trade is the main driver of sustainable economic development, positively impacting investment, industrialization, job creation and innovation. It is incumbent on us to ensure the global trading system is inclusive and accessible – especially as we confront a rapidly evolving trading landscape. The G20's trade priorities for 2025 are fully aligned with our own foreign trade agenda, and the Ministry of Economy and the Ministry of Investment will continue to actively contribute to this year's TIWG sessions to ensure the benefits of trade are shared equally and equitably.' The Trade and Investment Working Group, which was held virtually between March 18-20, was the first to be convened under South Africa's presidency of the G20. There will be three further Working Group meetings before the Ministerial Meeting on October 10 in Gqeberha, South Africa. The G20 Presential Meeting will take place in Johannesburg in November. -Ends-
