UAE approves 24 national initiatives, aims to double re-exports in 7 years

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, on March 28.

During the meeting, Sheikh Mohammed approved 24 national initiatives targeted at doubling the UAE’s re-exports by 100 per cent within a period of seven years supported by the country’s 50 commercial offices around the world, according to the state news agency, WAM.

Sheikh Mohammed said, “We will double the country’s re-exports by developing specialised areas in cooperation with local governments, establishing the International Trade Links Centre, launching supportive programmes and increasing foreign investments in the service sector.

“The meeting reviewed more than 19 initiatives to attract talent to the country. The UAE ranked second globally in the ‘Competent Senior Managers’ indicator. Our goal is to attract the best talents in the world, as we continue to empower and enable our Emirati talents and national cadres.

“We reviewed the results of the Higher Commission Free Trade Negotiations. We signed 4 international agreements with 4 countries. The positive impact of international agreements is reflected clearly in the numbers of the UAE’s foreign trade.”

According to WAM, the UAE’s Vice President and Prime Minister also stated: “The meeting approved hosting the International Union for Conservation of Nature World Conversation Congress (IUCN) in 2025, which attracts more than 10,000 experts from more than 160 countries. The UAE will remain a leading hub for sustainability, nature conservation and protection.

“We approved the reformation of the UAE Council for Digital Wellbeing for three years, chaired by Sheikh Saif bin Zayed Al Nahyan, and the reformation of the UAE Genomics Council, chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.”

Mohammed bin Rashid chairs UAE Cabinet, approves 24 national initiatives to double re-export within 7 years#WamNews https://t.co/hcKYNk3GZP

— WAM English (@WAMNEWS_ENG) March 28, 2023

Key highlights of the UAE cabinet meeting

Higher Commission Free Trade Negotiations’ achievements reviewed
During the meeting, the cabinet looked at the achievements of the Higher Commission Free Trade Negotiations during 2022, which included the four comprehensive economic partnership agreements (CEPA) signed between the UAE, India, Israel, Indonesia and Türkiye, in addition to negotiations on new CEPAs with other trading partners.

The cabinet reviewed a report about the 2022 economic results of the UAE-India CEPA.

The volume of non-oil trade between the two countries reached Dhs79.3bn by the end of September 2022, achieving 23 per cent growth compared to the same period in 2021 and 133 per cent growth compared to 2020.

The volume of the country’s non-oil exports to India recorded Dhs19.7bn in the same period, with a growth rate of 12 per cent compared to the same period in 2021 and 154 percent compared to 2020.

Read: UAE and India sign Comprehensive Economic Partnership Agreement

The meeting also reviewed the achievements of the Talent Committee in 2022, and the UAE’s remarkable rankings in the World Talent Ranking 2022 by IMD, along with the initiatives and programmes launched by the Commission, which included the implementation of about 19 initiatives.

New federal laws approved
The cabinet approved a new federal law to organise federal government properties.

Additionally, the cabinet approved a new federal law to replace the Federal Law No (26) of 1981 on Maritime Commercial law, by developing special legislation that allows foreign shipowners to register the ship under the UAE flag.

The meeting approved a federal decree law about reorganising the Higher Colleges of Technology (HCT), in addition to a ministerial decision adopting the UAE’s approach for aircraft and unmanned aerial vehicles (drones) products and systems in the country.

International agreements approved
The cabinet approved the ratification of the CEPA with Türkiye. In addition, the cabinet approved an agreement with Côte d’Ivoire, as well as an agreement between the government and the International Office of Epizootics.

Additionally, during the meeting, the cabinet approved the country’s accession to Arab Customs Cooperation Agreement, and to the Digital Economy Partnership Agreement. It also approved the UAE’s accession to the Agriculture Innovation Mission for Climate.

Abu Dhabi to host IUCN
In addition, the meeting approved hosting the International Union for Conservation of Nature World Conversation Congress (IUCN) in Abu Dhabi in 2025, which attracts more than 10,000 experts from more than 160 countries.

Reformation of EHS
The cabinet also agreed on the reformation of the Emirates Health Services (EHS), chaired by Dr Mohammad Salim Al Olama, under-secretary of the Ministry of Health and Prevention.

National Child Protection Policy in Educational Institutions reviewed
The cabinet reviewed the implementation of the policy, which aims to ensure children’s protection in educational institutions and create a safe and supportive school environment to protect children against occurrences that can threaten their survival and wellbeing.