UAE minister elected as Chair of WTO’s 13th Ministerial Conference

The General Council of the WTO has elected  Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade at the Ministry of Economy, as Chair of the World Trade Organisation’s 13th Ministerial Conference (MC13) on Monday.

The Ministerial Conference, attended by leading representatives from the 164 countries and customs blocs that make up the WTO, will take place in Abu Dhabi in February 2024.

MC13 comes at a critical time for world trade, and the conference will build on the outcomes of MC12, review the performance of the multilateral trading system, make decisions on the future work of the WTO, and set up the roadmap for MC14.

“This is a pivotal moment for world trade,” commented Dr Thani bin Ahmed Al Zeyoudi :“As a Ministerial Conference, we have to tackle pressing issues and challenges, consider all the forces shaping the future of trade and come up with clear solutions, and challenge ourselves to take actionable decisions that move the needle on making trade more efficient, inclusive and sustainable.

“At the heart of all of this is the need to modernize trade and embed technology across supply chains, and we look forward to working closely with all the members of the WTO to make real progress at MC13. Our goal must be driving forward momentum for more change at the conference in Abu Dhabi next year, but also in the years to come, and I have the utmost confidence in our collective ability to make this happen.”

The announcement was made during the WTO General Council in Geneva, Switzerland, where he met with the WTO Director General, Ngozi Okonjo-Iweala. During their meeting they discussed the preparations for MC13, in addition to the landmark inclusion of trade as a thematic day at COP28, which is set to take place in Dubai later this year.

Dr. Thani delivered his first address as Chair at the General Council, where he stressed the importance of building resilient trade frameworks to tackle today’s challenging landscape. In his address he called for focused and decisive deliberations amongst WTO members ahead of MC13, and commented: “Trade policy extends far beyond the scope of trade itself; it is about shaping our common future. It is our collective responsibility to contribute to a predictable, rules-based, and open trade and investment environment that creates prosperity for all – and this is precisely why the success of MC13 is so imperative.”

Thuraiya Alhashmi: BRICS’ New Development Bank (NDB) has elected Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organizations Department at the UAE Ministry of Finance, as a member of its Board of Directors and a Constituency Director. She was appointed following an internal voting process during NDB’s 8th Annual Meeting, held recently in Shanghai, China.

Thuraiya Hamid Alhashmi will become the first Emirati and Arab woman to assume a Director’s position at the New Development Bank, which was established in July 2015 by Brazil, Russia, India, China and South Africa (BRICS).

In her new role, Thuraiya Alhashmi will be able to serve the UAE and its global contributions across financial areas, becoming an outstanding example of Emirati women leaders who have established renowned standing and capabilities, and distinguished themselves on the global field and in the largest economic institutions. The UAE’s national talents have supported infrastructure projects and sustainable development goals (SDGs), and Alhashmi’s expertise will enrich the UAE’s contribution to NDB, which plays a key global role in realizing SDGs and stimulating international collaboration on infrastructure and sustainable development across various emerging and developing economies.

The UAE joined BRICS’ NDB in October 2021 following Cabinet Resolution No. (19)/3 of 2021. The UAE is represented on NDB’s Board of Governors by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, as Governor, and His Excellency Younis Haji Al Khoori, Undersecretary at the Ministry of Finance, in his capacity as Alternate Governor.

The UAE actively engages in NDB’s regular meetings, as well as in the seminars, workshops, and discussions that take place on sidelines of these meetings, which focus on topics including deploying innovation to advance development policies, funding solutions and advanced digital infrastructure. The UAE also participated in building a new structure for global partnerships in international development based on mutual interest, to support economic growth and achieve comprehensive, sustainable, and green development. This new structure also targets enhancing innovation in pioneering sustainable development and addressing global challenges – namely, those resulting from climate change – while working on reshaping global supply chains and higher interest rates. It also encourages open data initiatives to strengthen digital platforms that provide solutions for exchanging ideas, and public-private cooperation and partnership.

The New Development Bank was established by BRICS countries following an agreement that was signed by the leaders during the sixth BRICS Summit in Fortaleza in 2014. It’s headquartered in Shanghai, China, with regional offices in South Africa and India. It mobilizes resources through loans, securities, and equity participation to finance infrastructure projects and sustainable development projects in BRICS nations and other emerging economies as well as developing countries.

WAM