Abu Dhabi: Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, yesterday (Sunday) chaired the Ministerial Services Council meeting held at the Presidential Palace.
The council discussed the national initiative for developing exports, which was presented by Sultan Saeed Al Mansouri, Minister of Economy.
The initiative aims to enhance the UAE’s non-oil trade balance through an exportation structure that enjoys sustainable and balanced growth. The initiative will allow Emirati exports to make their way into new and emerging markets, diversify industrial exports and increase the share of foreign trade in the country’s Gross Domestic Product (GDP).
The council also discussed a memorandum presented by Al Mansouri on the UAE’s commitments to implementing the World Trade Organisation’s Trade Facilitation Agreement.
The council also discussed two proposals presented by Dr Rashid Ahmad Bin Fahd, Minister of Environment and Water, on preparing a federal draft law on the biosafety of genetically modified organisms and products, which will be implemented on local and international individuals and establishments that wish to use the aforementioned products.
The council then reviewed the annual economic report on the Gulf Common Market, presented by Obaid Humaid Al Tayer, Minister of State for Financial Affairs. The report includes economic performance indicators of the common market.
