UAE maintains economic status on global stage

Abu Dhabi: The UAE has maintained its regional economic position and status on the global stage, despite repercussions from the global financial crisis, according to a WAM report prepared on the occasion of the UAE's National Day.

The UAE will soon celebrate its 38th National Day with preparations in full swing to mark the glorious occasion and highlight the nation's achievements.

Based on the country's economic policies which includes liberalisation of trade, the UAE exerted efforts to open the economy to foreign trade and investment, to increase growth and attain progress, prosperity and well-being for its people.

Local and international indexes on the impact of the meltdown on trade revealed that the effects of the crisis were limited and the country's economic recovery started in the second half of 2009.

The UAE's economic achievements are abreast with the government's efforts to enhance its economic and commercial ties with GCC countries and Arab nations by way of Arab free trade zone agreements, bilateral free trade agreements with Arab and foreign countries and international blocs.

These agreements are being concluded within the framework of the GCC, which makes it an effective economic bloc across the world. The UAE also enhanced relations with other countries by joining the World Trade Organisation in 1996 and taking part in all activities related to the organisation.

The UAE is currently holding talks as part of the GCC's negotiation team to conclude agreements, necessary to set up free trade zones with countries such as Japan, China, India, Pakistan, Turkey, Australia, New Zealand, Brazil, Argentina and the European Union, among others.

Meanwhile, the Abu Dhabi Authority for Culture and Heritage (ADACH) is celebrating the 38th National Day with multiple entertainment programmes from December 2-4 at Corniche, Heritage Village in Al Ain and the Cultural Centre in the western region.

The programme will include a fireworks display and cultural activities, in addition to an astounding daily artistic programme featuring top Arab singers. There will be a children's library, in addition to a theatre performances.