Post by : Badri Ariffin

The United Arab Emirates reaffirmed its commitment to championing open and rules-based international trade, emphasizing its role as a key driver of sustainable growth and global economic development. This pledge came during the first-ever ministerial meeting of the Future Trade and Investment Partnership (FIT Partnership) held in Singapore.

Launched in September 2025, the FIT Partnership brings together countries committed to fair trade, inclusive growth, and tackling modern trade challenges. The inaugural ministerial meeting gathered representatives from member countries, including Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Morocco, New Zealand, Norway, Panama, Rwanda, Singapore, Switzerland, the UAE, and Uruguay, along with newcomers Paraguay and Malaysia, boosting the partnership’s membership to 16.

Observers from Australia, Canada, Indonesia, Thailand, and Peru also attended, highlighting global interest in the FIT framework and its initiatives.

Key Initiatives for Trade Resilience

At the summit, ministers launched several initiatives to address emerging trade challenges:

• Supply Chain Resilience: A declaration by 13 member countries, including the UAE, Brunei, and Switzerland, to identify and mitigate major supply-chain risks for faster and more coordinated responses.

• Digital and Paperless Trade: A workstream to promote international standards for digital trade documentation and streamline cross-border transactions.

• Strengthening Rules-Based Trade: A focus on developing practical solutions for contemporary trade challenges and exploring pathways for reform.

• Technology for Trade SMEs: Initiatives to support small and medium-sized enterprises in adopting innovative trade technologies, enabling them to scale solutions globally.

A Forward-Looking Partnership

The FIT Partnership aims to amplify the voice of trade-dependent nations and create tangible, real-world impact while continuing to expand its membership to countries committed to open trade principles.

During the Singapore meeting, UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, engaged in bilateral talks with ministers and trade leaders from New Zealand, Costa Rica, Rwanda, Switzerland, and Panama, fostering closer economic and trade ties.

With these initiatives, the UAE positions itself at the forefront of a global movement toward more inclusive, resilient, and technologically driven trade systems, highlighting the country’s strategic role in shaping the future of international commerce.

#Global News #UAE News