UAE Strengthens Global Trade Ties at UAE-Global Business Forum and B20 Summit in Brazil
Sao Paulo, The Gulf Observer: The UAE showcased its expanding role in global trade and investment by hosting the UAE-Global Business Forum alongside the B20 Summit in São Paulo, Brazil. Organized by the UAE Ministry of Economy in collaboration with the UAE Embassy and Consulate in Brazil, the forum aimed to deepen relations between the UAE and multinational businesses, emphasizing the UAE’s role as a pivotal trade and investment hub.
The UAE-Global Business Forum convened business leaders from G20 and guest nations, facilitating discussions on renewable energy, technology, and food security as key areas for collaboration. These sessions were complemented by meetings between UAE company representatives and G20 counterparts to explore new avenues for trade and investment aligned with the UAE’s sustainable development goals.
Leading the UAE delegation to the B20 Summit, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, engaged in discussions on global trade efficiency, sustainable business practices, and the importance of inclusivity, especially for women-owned businesses. Held under the theme “Inclusive Growth for a Sustainable Future,” the summit gathered approximately 1,000 high-level business representatives. Recommendations from the summit will be presented to G20 leaders at their meeting in Rio de Janeiro in November.
“The B20 Summit is a vital platform to strengthen collaboration between the public and private sectors. It is important that policymakers listen to insights from those utilizing global supply chains daily to ensure they remain enablers of growth,” Dr. Al Zeyoudi stated, reaffirming the UAE’s dedication to an open, efficient, and inclusive global trading system.
The UAE delegation, which included Saleh Ahmad AlSuwaidi, UAE Ambassador to Brazil, Abdalla Shaheen, UAE Consulate General in São Paulo, and Juma Mohammed Al Kait, Assistant Undersecretary for International Trade Affairs, represented sectors spanning education, innovation, health, energy, and more. This strong representation highlighted the UAE’s commitment to fostering international cooperation and driving sustainable economic growth.
The UAE’s trade with G20 nations reached $196.1 billion in the first half of 2024, marking a 4.1% increase from the previous year, while its non-oil trade with these countries totaled $393.2 billion in 2023, reflecting a 15.3% year-on-year rise. The UAE’s presence at the B20 Summit as an invited guest underscores its growing influence in the global trade landscape.
