Monday , March 8 2021

Al Ittihad Newspaper – 6 government initiatives to stimulate trade and create the future of the economy


Economic development

The second annual meeting of the United Arab Emirates government

The second annual meeting of the United Arab Emirates government

The United Arab Emirates Government has adopted six development initiatives during the second session of its annual meetings with the aim of organizing e-commerce at state level and stimulating the national economy in supporting and organizing the partnership between the public and private sectors, ensuring growth in exports of oil goods, World.
Sultan bin HE Minister Saeed Al Mansouri stressed that these meetings provide a clear route for the performance of the main sectors in the Arab Arab Emirates and to set a well-defined road map move towards the achievement of the country's objectives and launch the first practical development pathways to meet the aspirations of the United Arab Emirates 2071. A leading platform for challenging and launching strategies and joint design of national initiatives and programs to meet the aspirations & The country in the future.
He noted that the economic sector was rich in opportunities that opened the horizons of the future by increasing the growth in product exports, e-commerce that brought to the economy, monitoring changes in the sector and developing; The infrastructure that keeps these variables constantly to ensure a prosperous and sustainable future for generations. Coming.
The Economic Working Group's meeting reviewed the tools for stimulating and developing the foreign oil sector, which adopted the initiative to implement export mechanisms, strategies and projects that include specific projects and initiatives that are & Having a direct impact on the growth of oil goods exports.
When organizing e-commerce, the state intends to adopt a number of regulatory initiatives and frameworks to license and establish controls that will stimulate license holders, including the e-commerce e-commerce platform, an instrument for communication and interaction between license holders and consumers.
The meeting adopted the "Regulatory Framework for E-Commerce Activities Licensing". The participants also adopted the initiative to establish a regulatory framework for the regulation of e-commerce companies to ensure fair competition between local and international companies in the field of e-commerce, Catalysts for e-commerce license holders in the country, especially citizens to develop entrepreneurship and innovation.
The United Arab Emirates government has developed plans to monitor future changes in the economy and infrastructure of the country's infrastructure by adopting an annual report on the country's economic prospects. The report is based on the macroeconomic model of the United Arab Emirates for future development analysis based on economic diversification policies and the exploration of new growth sources. Contribute to the long-term sustainability of the economy.
The United Arab Emirates has achieved notable growth in oil goods exports, reaching around 1,612 trillion tonnes last year. According to the World Trade Organization's statistics for the value of freight exports, the United Arab Emirates is one of the top 20 exporters in the world and puts pressure on Arab countries in this regard.
The United Arab exports have many opportunities to access international markets. The United Arab Emirates enjoys the distinctive geographical location and the availability of air, sea and land shipping routes. It has located among the leading countries in this area. UAE investments abroad cover over 100 countries. Setting up the United Arab Emirates as one of the most important markets for high quality exports.
The aim of the government is to improve the business environment to stimulate domestic investment, attract foreign investment, adopt innovative policies to reduce challenges faced by the private sector, and develop a general public-private partnership framework to ensure excellence in innovation and job creation.
The government seeks to establish common rules for consumers and investors to do business through modern electronic methods, with the continuing growth of this type of trade in the country, which is among the highest in the Arab world. The total e-commerce market in the United Arab Emirates is expected to reach 10 Billions of dollars by the end of 2018.

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Source: WAM

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