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UAE Economy ministry attends Global Services Forum

It is an opportunity to form partnerships that promote growth in trade in services

Gulf News

Abu Dhabi: The UAE Ministry of Economy is participating in the Global Services Forum 2013, organised by United Nations Cconference on Trade and Development (UNCTAD) along with the Ministry of Commerce of the People’s Republic of China and The People’s Government of Beijing Municipality, which runs for two days starting Tuesday.

The Global Services Forum will bring together players in the services sector, governments, the business world and academia.

Abdullah Al Saleh, under-secretary of the Ministry of Economy, will lead the UAE delegation to the Forum which is an opportunity for sharing best practices and forming partnerships that promote growth in trade in services and foster sustainable development.

He emphasised the value of participating in the forum because it represents the importance of the services sector at the international level. He pointed out that global exports of services reached $4.423 trillion (Dh16.16 trillion) in 2012.

Al Saleh added that the Ministry is keen to participate in the forum in the framework of seeking development of the services sector.

The forum provides an important platform to communicate with the international business community and exchange views, ideas and experiences with international institutions and agencies contributing to the development of national exports of services, which reached $12.8 billion in 2011 with a growth rate of 9 per cent for 2010.

The UAE comes first in the Gulf in the export of services which, in turn, contributes to increasing the proportion of foreign trade in the GDP, and promotes sustainable economic development in the UAE.