The UAE Ministry of Economy recently announced that it will host a sustainable trade forum during the UN Climate Change Conference (COP28). This event will take place in Dubai between 30 November and 12 December. Specifically, the forum occurs on 4 December as part of the first-ever International Trade Day at a COP summit. Consequently, the ministry invites several leading private sector officials to discuss the potential of inclusive supply chains. These discussions aim to create a more climate-friendly global economy.
Historical Launch of the Sustainable Trade Forum
This sustainable trade forum makes history by featuring in the first official trade day at a United Nations climate conference. Furthermore, the event supports a larger discourse around action-oriented solutions for global traders. Discussions will revolve around the future of regional trade and the adoption of greener trading practices. Because sustainability is crucial to import and export activities, the forum focuses on modernising existing systems. Therefore, the ministry signals a strong commitment to a greener business landscape.
Strengthening Global Supply Chains and Entrepreneurship
The ministry divided the seminar into two distinct sessions to address different facets of the economy. First, the session “Strengthening sustainable supply chain resilience” focuses on navigating global disruptions. Second, the session “Fostering green entrepreneurship” looks at nurturing a sustainability-led startup ecosystem. These sessions yield valuable insights from global and domestic trade players. Moreover, experts and stakeholders will explore groundbreaking innovations. This approach inspires the global community to fast-track the transition to a climate-friendly economy.
Strategic Partnerships for Future Trade Meetings
The forum operates in partnership with global fintech firm Capital.com and Vietnamese electric car manufacturer Vinfast. Furthermore, the success of the sustainable trade forum at COP28 sets the stage for future high-level meetings. Specifically, it prepares the ground for the World Trade Organisation’s (WTO) 13th Council of Ministers meeting. This meeting is slated to take place in Abu Dhabi in February 2024. Overall, these collaborations reflect the depth of the UAE’s commitment to digitally enabled and sustainable global trade.
Courtesy: forbesmiddleeast.com
