Minister of Economy & OECD Deputy Secretary-General discuss ways to enhance cooperation in new economy sectors

H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a meeting with Ulrik Vestergaard Knudsen, Deputy Secretary-General of the Organization for Economic Cooperation and Development (OECD), to explore the means to enhance economic cooperation between the UAE and OECD to support the country’s development agenda in line with the ‘We the UAE 2031’ vision.

The Minister of Economy said: “The UAE has strong ties with OECD, characterized by fruitful cooperation in many development sectors. The most notable in this regard is the launch of a set of joint training programs aimed at strengthening economic policies to keep pace with the best standards followed globally. It consolidates the UAE’s position as a leading economic hub that applies the highest standards of governance in its business environment.”

H.E. Bin Touq expressed the UAE’s desire to continue joint efforts with OECD; exchange expertise and experiences in many strategic economic cooperation sectors, particularly the new economy; and to explore more opportunities.

During the meeting, the OECD Deputy Secretary-General was apprised of the determinants of the ‘We the UAE 2031’ vision, which aims to make the country a global hub for the new economy. Also highlighted were the steps adopted by the UAE government to achieve this goal, mainly the development of economic legislation and the launch of innovative initiatives and programs that enhance the economic climate and attract FDI, especially in the new economy sectors. Moreover, legislation was issued to protect intellectual property, apart from the launch of an ambitious strategy to attract talent and creative minds to solidify the UAE’s position as a permanent hub for creativity and innovation.

OECD, comprised of 38 countries, strives to develop policies that promote prosperity, equality, opportunities and well-being for all, in cooperation with governments, policy makers and citizens. Its programs focus primarily on improving economic performance, creating job opportunities, promoting education, and combating global tax evasion.

H.E. Bin Touq led a UAE delegation to France to discuss the strengthening of the economic cooperation in a wide range of vital sectors, most notably renewable energy, tourism, aviation, entrepreneurship, artificial intelligence, space, intellectual property, and the circular economy.