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DUBAI / WAM
Johanna Hill, Deputy Director-General of the World Trade Organisation (WTO), has highlighted the significance of UAE investments in various sectors, including services, AI, digital services, sustainable development, and the green economy, noting that these investments will have a transformative impact on the UAE’s future economy.
In a statement to the Emirates News Agency (WAM) on the sidelines of the fourth Global Trade and Supply Chain Summit, organised by Economist Impact in partnership with the New Economy Academy in Dubai, Hill said that “the UAE is playing an incredible role in world trade”, adding that the trade agreements the UAE has signed with various countries testify to this commitment.
She also described the UAE’s hosting of the 13th Ministerial Conference (MC13) in Abu Dhabi as a reflection of the country’s commitment to enhancing the global trade system. Hill explained that the UAE’s strategic approach would enable it to harness opportunities arising from the changes in the global trade system.
The WTO Deputy Director-General shared the WTO’s growth projections for global trade, noting that, after a 1.4 percent decline last year, merchandise trade is expected to grow 2.6 percent this year and 3.3 percent in 2025. She also highlighted that services trade grew 9 percent last year, reflecting a positive outlook for this year and the next.