Published On: Thu, Nov 6th, 2014

Global trade promotion summit in Dubai calls for stronger links between trade and investment

Global trade promotion summit will take place in Dubai World Trade Centre

Global trade promotion summit will take place in Dubai World Trade Centre

Representatives of trade promotion organisations ( TPOs ) and trade development and investment agencies worldwide are meeting in Dubai for a two-day summit on trade and investment, organised under the patronage of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince and Chairman of the Executive Council of Dubai, between 4-5 November.

The 10th Trade Promotion Organisations (TPO) Network World Conference and Awards, taking place at the Dubai World Trade Centre, are hosted by Dubai Exports, the export promotion agency of the Department of Economic Development ( DED ), in partnership with the International Trade Centre (ITC), the joint agency of the United Nations and the World Trade Organisation.

More than 400 experts from the public and private sector across 68 countries are attending the biennial conference. During the two days, they will explore the growing importance of TPOs in helping small and medium-sized enterprises (SMEs) increase their competitiveness and connect to international production networks for manufacturing and services. In addition, they are set to discuss the increasing links between trade promotion work and efforts to attract foreign investment.

They will also examine the role that government agencies can play in facilitating the participation of women in international trade, which tends to yield particularly high social dividends.

Welcoming the delegates, Sami al Qamzi, Director General of the Department of Economic Development ( DED ), Dubai, reiterated the Emirate’s commitment to supporting dialogue on facilitating seamless and sustainable trade. “The TPO Network has a leadership role in consolidating efforts to enable smooth and seamless trade, thereby supporting social and economic development across various countries,” said Mr. Al Qamzi.

Sultan Al Mansouri, the UAE Minister of Economy, in his keynote address highlighted the increasing role of TPOs and their co-operation in the rapidly evolving global economic and trade landscape.

“Trade promotion agencies can provide a wealth of information from their experiences in areas such as trade promotion techniques, trade policies, best practices, information on foreign markets and exporters-importers matching. Cooperation among agencies will further facilitate trade and increase exports on the global level,” added Mr. Al Mansouri.

‘TPOs deliver real impact. Studies confirm that TPOs not only generate around US$ 40 for each dollar invested in them,” said Arancha Gonzalez, ITCs Executive Director, ‘they also make a substantive contribution to facilitate the internationalisation of SMEs, and drive growth and job creation in support of sustainable livelihoods.’ Leading trade officials and business leaders have come together at the conference to exchange views on varied topics critical to formulating trade policy and strategy in the coming years.

“The global trade landscape has seen tremendous changes in recent years, demanding innovative approaches to overcoming barriers and ensuring a level playing field. As a TPO Network member from a progressive hub like Dubai, we are proud to host an inclusive discussion of trade bodies on future strategy in partnership with ITC,” said Engineer Saed Al Awadi, Chief Executive Officer of Dubai Exports.

During the opening of the event, participants also heard Alexander Mora, Costa Rica’s Minister of Foreign Trade, share his country’s experience in creating greater effectiveness in linking trade development and investment promotion.

TPO representatives attending the conference will benefit from the experience of their counterparts across Africa, Asia, Europe and Latin America, who are showcasing their best practices on strategic issues ranging from expanding client base to improving operations.

ITC is the joint agency of the World Trade Organisation and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid for Trade agenda and the Millennium Development Goals.

Dubai Exports, an agency of the Dubai Department of Economic Development , Government of Dubai, commenced operations in 2007.

Source : WAM News Agency for United Arab Emirates

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