Free trade is the best way forward

The UAE is continuing to champion free trade between the nations of the world — an important task since the recent meeting of ministers of the World Trade Organisation (WTO) failed to make any significant progress towards reducing barriers to international commerce.

On the sidelines of the WTO meeting, a group of developing countries produced a deal to cut their tariffs and boost trade. As long as smaller pacts between countries do not become an obstacle to a comprehensive global trade deal, they are a useful alternative for boosting commerce between nations and showcasing practical solutions to the many political problems that are hindering the drawing up of an international treaty.

Also at the meeting, the UAE held discussions with Panama, New Zealand and Thailand to find ways to strengthen trade links. The country underlined its strong position in the global economy due to its modern infrastructure and its position as a hub for trade and transactions between the Middle East, Africa and Asia.

The UAE is a trading nation that is creating wealth and opportunities for all of its residents by doing business with the rest of the world. Its success should encourage other nations to open their doors to international trade.