Dubai: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, today attended the first-ever Global Business Forum (GBF) ASEAN at Expo 2020 Dubai.
GBF ASEAN seeks to enhance economic ties and bilateral trading relations between Dubai and the 10 member states of ASEAN region.
“ASEAN countries can play a key part in the world’s economic growth by supporting international trade and building partnerships,” said Dr Thani Al Zeyoudi, Minister of State for Foreign Trade. “The large populations of ASEAN countries provide huge investment opportunities and support the global supply chain.”
The UAE is looking positively at the ASEAN region, as it holds a solid economic position with a total GDP of $3 trillion. Both the ASEAN and GCC regions complement each other and play a vital role in the world’s economy
“The UAE is looking positively at the ASEAN region, as it holds a solid economic position with a total GDP of $3 trillion. Both the ASEAN and GCC regions complement each other and play a vital role in the world’s economy,” he said.
Reem Al Hashimy, Minister of State for International Cooperation and Director General of Expo 2020 Dubai. She said resilience and the ability to overcome obstacles are critical to the continued growth of GCC and ASEAN countries.
“The nations of the Gulf and Southeast Asia are introducing several forward-thinking initiatives - we are entrepreneurs and problem-solvers, always seeking new perspectives to spark creativity and innovation,” said Al Hashimy. “We have demonstrated these qualities since the UAE’s foundation in 1971 and throughout our journey into the 21st century.”
In a discussion that followed, Omar Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, said, “With a presence in the UAE, countries in the region will be a lot more likely to help businesses expand into their geographies. An example of this is the expansion of DP World’s operations beyond the GCC, to Asia, Africa and Latin America.”
Al Olama also drew attention to the facilities that Dubai offers businesses operating in the rapidly expanding technology sphere, with Dubai Internet City home to more than 60 per cent of artificial intelligence startups in the region and Dubai attracting over 62 per cent of all foreign direct investment into the region’s digital economy.
“The bilateral trade between Dubai and the ASEAN countries in the last two decades was $37 billion and we believe that the UAE and Dubai, in particular, can open new avenues for strategic partnership between ASEAN and GCC countries,” said Dato Lim Jock Hoi, Secretary-General, ASEAN Secretariat. “Investments in the digital economy and e-commerce came at the top of the list as the region has over 660 million people.”
Held under the theme The New Frontiers, the conference is the latest addition to Dubai Chamber’s Global Business Forum series, which was launched in 2013 to identify synergies between Dubai and promising markets around the world.