UAE Minister Advocates for WTO Reform and Open Trade at G20 Ministerial Meeting

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, reaffirmed the UAE’s dedication to open, rules-based trade at the G20 Trade and Investment Ministerial Meeting (TIMM) in Brazil. Representing the UAE as an invited guest of Brazil’s G20 Presidency, Al Zeyoudi underscored the importance of World Trade Organization (WTO) reform to enhance multilateralism and guarantee equitable access to global supply chains for all nations. His participation signals the UAE’s rising influence in global economic discussions, particularly concerning trade.

The meeting, which will shape the agenda for the G20 Leaders’ Summit in November 2024, focused on two core themes: strengthening the global trading system, especially via WTO reform, and harnessing trade for sustainable development and investment. The UAE’s delegation, which included Juma Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, and Saleh Ahmad AlSuwaidi, UAE Ambassador to Brazil, actively contributed to these discussions, underscoring the UAE’s role in global economic policy.

Reflecting on the outcomes of the 13th WTO Ministerial Conference (MC13) held in Abu Dhabi in February 2024, Al Zeyoudi described the Abu Dhabi Declaration as a critical advancement, particularly in dispute resolution, and urged swift implementation of its agreements. He highlighted the necessity for G20 nations to reaffirm a commitment to open, rules-based trade to drive growth and oppose protectionist measures. “The G20 Trade and Investment Ministerial Meeting is an important platform for addressing the issues impacting global trade, and for shaping the solutions that will ensure every nation is able to access and benefit from supply chains,” he stated. “The UAE will continue to use such meetings to champion multilateralism and align with our partners across the world to ensure trade remains able to deliver long-term, sustainable growth for every nation.”

Al Zeyoudi also advocated for the use of technology to foster greener, more efficient trade, essential in addressing climate change and supply-chain challenges. He welcomed the “G20 Compendium of Best Practices to Increase Women’s Participation in International Trade,” emphasising the importance of accessible international markets for women-run SMEs in emerging economies.

During his visit, Al Zeyoudi engaged in bilateral discussions with several international counterparts, including Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, alongside other UAE Comprehensive Economic Partnership Agreement (CEPA) programme nations. These included Todd McClay, New Zealand’s Minister of Trade; Inkyo Cheong, Minister of Trade for South Korea; Shri Jitin Prasada, India’s Minister of State for Commerce and Industry; and George Mina, Deputy Secretary of Australia’s Department of Foreign Affairs and Trade.

Further meetings with key G20 trade figures included discussions with Márcio Elias Rosa, Brazil’s Deputy Minister for Development, Industry, Commerce and Services; Valdis Dombrovskis, EU Executive Vice-President and Trade Commissioner; and leaders from other G20 countries, among them Argentina’s Diana Elena Mondino, the UK’s Jonathan Reynolds, Switzerland’s Helene Budliger, and China’s Wang Shouwen.

The G20 nations account for 85 percent of global GDP and 75 percent of international trade. In 2023, the UAE’s non-oil trade with G20 members surged to US$393.2 billion, a 54 percent increase since 2019, highlighting the UAE’s expanding role as a global trade hub and its dedication to fostering economic partnerships worldwide.