Emirates News Agency – Finance Minister meets WIPO, UNCTAD and WEF representatives during MC12

GENEVA, 17th June, 2022 (WAM) — Economy Minister Abdullah bin Touq Al Marri held bilateral meetings with senior officials from the World Intellectual Property Organization (WIPO), the United Nations Conference on Trade and Development ( UNCTAD) and the World Economic Organization. Forum (WEF), on the sidelines of the UAE’s participation in the 12th WTO Ministerial Conference (MC12) recently held in Geneva, Switzerland.

Mr. Bin Touq met with WIPO Director General Daren Tang, UNCTAD Secretary General Rebeca Grynspan, and WEF Director General Saadia Zahidi.

During the meetings, Minister Al Marri reviewed the salient features of the UAE’s new economic model and plans for the next phase under the 50 Projects, the various development strategies, national initiatives and programs recently launched by the UAE Government. , as well as the priority sectors of the UAE Trade and Investment Program for the next phase.

During his meeting with WIPO Director General, Bin Touq noted that the UAE attaches great importance to developing the intellectual property (IP) system and nurturing innovators and creators. The country has made considerable progress in this regard by developing a legislative framework for this vital sector and enacting a series of laws that will help develop innovation capacity and promote entrepreneurship in the areas of technology and creativity.

He reiterated the UAE’s continued support for this sector, which has a direct impact on the growth of the creative economy and is an integral part of the country’s vision for the future.

Meanwhile, Tang praised the UAE’s efforts in the field of intellectual property, with the country ranking 33rd in the Global Innovation Index and first among Arab countries. He also welcomed the idea of ​​strengthening joint cooperation mechanisms to advance the IP system in the region.

Mr. Bin Touq also discussed with the UNCTAD Secretary-General the current global economic landscape and its implications for foreign direct investment trends and growth prospects in emerging markets. The two sides also exchanged views on the evolution of the WTO Ministerial Conference agenda and on a series of regional and international issues.

The Finance Minister thanked Mr. Grynspan for his participation in the Invetopia Summit, which took place in Dubai on March 28. The two sides then discussed cooperation on trade, development and investment issues, where it was agreed to establish a joint action team with UNCTAD to cooperate in common areas and programs related to trade facilitation and development with a group of countries. objective.

Bin Touq reviewed the changes in the UAE business environment in light of new initiatives and recent legislative amendments that have strengthened the opening of markets to foreign investment, as well as the current focus on attracting talents and skills to serve the future vision. from the UAE.

Mr. Grynspan noted that the UAE is a major regional destination for investment and has the capacity and potential to enhance its attractiveness to foreign investment.

During the meeting of the UAE Minister with the Director General of the WEF, the two parties discussed the developments of their joint initiatives. The meeting also discussed developments in the global economy at the regional and international levels, opportunities and challenges, and ways to further strengthen regional partnerships that serve future directions and support the Sustainable Development Goals.

Translated by: Gihane Fawzi.

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