Cairo

The Economic and Social Council of the League of Arab States welcomed the initiative of the United Arab Emirates to establish the “Arab Food Market”, appreciating the pivotal role it plays in promoting Arab cooperation in the areas of digital economy, in a way that contributes to achieving comprehensive and sustainable development for all.

This came during the meeting of the 111th session of the Economic and Social Council of the League of Arab States, which was held yesterday at the headquarters of the General Secretariat of the League in Cairo, with the participation of an official delegation from the UAE headed by His Excellency Jumaa Al-Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy. The council also discussed new mechanisms to support economic and social development frameworks at the Arab level.

His Excellency / Juma Al-Kait explained that “the UAE supports the efforts of cooperation and joint Arab action in various fields, in implementation of the directives of the wise leadership, regarding the need to achieve the goals of sustainable economic and social development in all Arab countries, in a way that contributes to the promotion of prosperity and development for the peoples of the region.”

He explained that the “Arab Food Market” initiative comes within the efforts of the UAE to implement the joint Arab vision for the digital economy launched by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, stressing that the initiative is one of the main engines to enable the pillars of the future economy in the Arab world. .

Especially since it establishes a broad alliance between the public and private sectors and the technological sector to establish a digital virtual market for foodstuffs, through which administrative and technological solutions can be found for transactions related to export activities of food commodities.

He pointed out that the initiative that was announced in Abu Dhabi in January 2023, in partnership with the Arab Federation for Digital Economy, will contribute to creating digital interdependence between Arab markets and will work to develop their competitive capabilities, stressing the UAE’s keenness to develop joint Arab cooperation to set clear mechanisms that contribute to supporting This initiative and its implementation as required.

He stressed the need to create more flexible paths to enhance cooperation and economic integration among the Arab countries, which in turn will contribute to increasing the momentum of the trade movement among them, ensuring a smooth flow of goods and commodities between the Arab countries, explaining the importance of continuing the efforts made regarding the establishment of the Arab customs union, within the framework of the region. Greater Arab free trade, which contributes to supporting the growth of Arab economies in a sustainable manner.

He pointed out that the UAE is keen to support the transformation of Arab economies towards future economic models, including the sectors of entrepreneurship, innovative emerging projects, and sectors of the new economy, which contribute significantly to diversifying the sources of income of national economies, stressing the readiness of the UAE to share its pioneering experience in various fields. Areas with brothers in the Arab countries, to enhance joint Arab cooperation and push it towards more momentum levels.