• Coincided with the group’s launch in Dubai a decade in the past
• Featured a ministerial assembly that mentioned the longer term position of synthetic intelligence and rising applied sciences in international commerce
• Periods centered on the way forward for the group, the free zones sector and different very important sectors over the subsequent decade
H.E. Dr. Thani bin Ahmed Al Zeyoudi: ‘The UAE is strategically positioned as a world commerce chief, adopting a impartial stance that balances commerce and diplomacy’
Al Zarooni: ‘In the present day, the World FZO has develop into a world platform that elevates the efficiency of free zones and their strategic contribution to international financial progress.’
Below the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the World Free Zones Group (World FZO) efficiently concluded the tenth version of its Annual World Congress, which attracted over 2,000 contributors from 136 nations.
This yr’s congress coincided with the World tenth anniversary of the group’s founding, witnessed by His Highness Sheikh Mohammed bin Rashid Al Maktoum in Dubai, the place the group’s headquarters is positioned. The group has performed a pivotal position in setting international requirements and contributing to efforts geared toward attaining sustainable growth worldwide. Over the previous decade, it has efficiently expanded its membership base from 14 founding members to a thriving international group of 1,600 members from 141 nations, supported by a world community of 12 regional workplaces and 42 nationwide contact factors.
Way forward for Key Sectors
The congress opened with a ‘Ministerial Assembly’ attended by H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for International Commerce, together with a Prime Minister, 24 ministers, deputy ministers, and secretaries-general. The assembly mentioned the longer term position of synthetic intelligence and rising applied sciences in international commerce, specializing in 5 key areas: the way to harness rising alternatives and handle challenges by means of worldwide cooperation, maximizing the potential advantages of AI and new applied sciences whereas minimizing dangers, enhancing commerce and AI integration to drive sustainable international growth, stimulating commerce and funding, and tackling provide chain challenges by means of free zones, whereas shaping safer, extra resilient provide chains by means of trendy financial zones.
In his speech through the Ministerial Assembly, H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for International Commerce, stated: ‘We’re on the cusp of a brand new international commerce paradigm, marked by each challenges and alternatives as international provide chains bear transformation alongside the speedy digitalization of commerce. Expertise, in the meantime, is transcending boundaries and reshaping international commerce, with synthetic intelligence (AI) and blockchain enhancing the resilience of provide chains. Amid these shifts, know-how emerges as a transformative power, able to transcending regional boundaries and revolutionizing international commerce.’
His Excellency added: ‘The UAE is strategically positioned as a world commerce chief, adopting a impartial stance that balances commerce and diplomacy whereas strengthening its international partnerships by means of complete financial partnership agreements (CEPAs).’
Contributors within the Ministerial Assembly affirmed the emergence of a brand new mannequin for international commerce pushed by the transformation of worldwide provide chains and the digitization of commerce. They famous that international conflicts, crises, commerce disruptions, and protectionist commerce insurance policies are imposing new challenges on commerce flows and financial progress internationally. Nevertheless, in addition they highlighted that speedy technological developments and international sustainable growth efforts are creating new alternatives for nations and industries.
A World Platform
H.E. Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Group, stated: “The success of the tenth version of the group’s World Congress reaffirmed the visionary management of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, who witnessed the founding of the group a decade in the past. In the present day, it serves as a world platform that elevates the efficiency of free zones and their strategic contribution to international financial progress, bringing collectively an built-in system that helps one-third of worldwide commerce passing by means of these zones throughout numerous areas.”
Al Zarooni added: “This yr’s version not solely marks a decade because the group’s founding but in addition seems towards the longer term by shedding mild on developments and developments. We intention to strengthen the position of free zones worldwide in numerous sectors and industries whereas rising the amount and easy circulate of commerce and funding alternatives. Our objective is to maintain free zones on the coronary heart of the excellent transformation towards the economic system of the longer term, anchored by the group’s new company identification, which was launched through the congress. This identification focuses on three key strategic pillars, which intention to realize sustainable growth: Impression, Affect, and Belief.”
The classes, centered occasions and workshops centered on the way forward for the group, the free financial zones sector, and key industries over the subsequent decade. The discussions emphasised the significance of actively contributing to attaining inclusive progress and prosperity on the international financial stage, whereas persevering with to construct and strengthen commerce relations and partnership networks between the financial zones of the member states. Moreover, there was a give attention to increasing actions to incorporate trendy financial sectors that align with the necessities of the age of synthetic intelligence, digital commerce, the Fourth Industrial Revolution, and superior applied sciences.
The congress agenda featured plenary classes on the way forward for logistics, vitality, entry to finance, manufacturing, and the digital sector. Every session outlined the newest developments, challenges, and options for these sectors. The ‘Way forward for Logistics’ session highlighted the UAE’s use of automation and the Web of Issues to extend effectivity throughout ports, airports, and roads, whereas discussions additionally centered on carbon discount methods, inexperienced economic system laws, and the significance of public-private partnerships in adopting sustainable logistics applied sciences.
The ‘Way forward for Entry to Finance’ session explored the evolution of free zones and their position in regionalizing provide chains and creating job alternatives. Contributors careworn the significance of entry to finance in driving overseas direct funding tasks into new areas, significantly in Asia and Latin America. In the meantime, the ‘Way forward for Power’ session mentioned the strategic position of free zones in connecting international vitality markets, highlighting the UAE’s management in renewable vitality and the transformative potential of synthetic intelligence in vitality administration to boost effectivity and sustainability.
Moreover, the session on the ‘Way forward for Manufacturing’ centered on the position of free zones in enhancing schooling, workforce growth, and financial progress. It emphasised the significance of addressing misconceptions about free zones and the necessity to stability formal schooling with vocational coaching. The session on the digital sector explored the way forward for synthetic intelligence, machine studying, cybersecurity, and knowledge privateness, highlighting the position of free zones in fostering innovation, digitization, and boosting overseas direct funding flows.
Strengthening Regional Partnerships
The congress witnessed the signing of a Memorandum of Understanding (MoU) between the World Free Zones Group and the African Continental Free Commerce Space (AfCFTA). The MoU outlines the framework for bilateral cooperation in 4 key areas: coverage growth, capability constructing, data trade, and selling commerce and facilitating investments. The signing ceremony was attended by H.E. Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Group, and H.E. Wamkele Mene, Secretary-Basic of the AfCFTA.
The MoU outlines a collaboration between each events to collectively develop insurance policies geared toward enhancing the enterprise setting inside free zones throughout the African continent, whereas coordinating efforts to standardize laws. It additionally consists of the group of packages, workshops, and classes for stakeholders and companions, together with the availability of technical help and capacity-building initiatives free of charge zones and associated organizations.
Moreover, the settlement encompasses the trade of information, data, greatest practices, market developments, research, and experiences. Each events will even co-organize commerce missions, funding boards, and exhibitions, selling funding alternatives in African free zones to international buyers.
New Strategic Strategy
The tenth version of the World Congress additionally noticed the launch of the group’s new company identification, which incorporates an up to date imaginative and prescient, mission, and strategic pillars. In step with its new technique, the group’s key targets for its new section embrace opening new funding horizons and reinforcing social contributions by supporting net-zero initiatives. Leveraging its studying, communication, and session instruments, the group seeks to drive significant optimistic change and foster higher collaboration throughout the international ecosystem of free zones.
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