Tuesday, October 19, 2021

Ministry of Economy and UPS discuss joint action plan to enhance the UAE’s competitiveness as a leading logistics & supply…

Abu Dhabi, 6 October 2021

H.E Abdulla Bin Touq Al Marri, UAE
Minister of Economy held a meeting with Scott Price President of UPS International, in presence
of H.E Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade in
the Ministry of Economy (MOE) headquarter in Dubai.

The two sides discussed the future
of the logistics industry, changes in this vital sector, global trends towards
re-designing the supply chain system and the role
that the UAE can play in this new system by benefiting from the capabilities enjoys
by the county in this regard.

The meeting also discussed ways to
develop aspects of cooperation between the MOE and UPS to enhance the country’s
competitiveness as a global logistics center and a pioneering economy in
adopting modern technology, through a joint project in cooperation with the UAE
Legislation Laboratory RegLab, which represents a platform for testing future
technologies, to develop new ideas that serve the mobility and shipping system.

‘The logistics sector is a major
driver of the UAE’s trade and a fundamental pillar of the diversification of
the national economy, and the country has proven high potential in this sector and has succeeded
in establishing its position as one of the most important centers for logistics
services regionally and globally.’ H.E Bin Touq said.

He added that today, considering the
changes and transformations taking place in the global economy, which in turn
affected the movement of international trade, there is a need to re-design the
supply chain system, taking advantage of digital technology and modern
technologies, to be more flexible and able to respond to the requirements of
future growth. Emphasizing that the UAE today has a global success story that
began 50 years ago by opening to the world, developing wide international
partnerships, and owning a business environment that stimulates growth and
attracts investments, which made the country the preferred choice and the first
destination for many international companies that have taken the UAE as their
headquarters and second home to conduct their business and access to the region
markets.

H.E added that with the country’s
announcement of the ‘Projects of 50’ plans, it has set the development of the
national economy and its transition to a more diversified, flexible and
sustainable model, as a top national priority that integrates the efforts of
all government entities at the federal and local levels to achieve, and the UAE
aims through this new economic model to establish a new phase from the internal
and external growth of it, in addition to consolidating its regional and global
position in all sectors.

Bin Touq
added that UPS represents an important partner in the development of the
transport and logistics sector in the country and upgrading its competitiveness
to more advanced levels, as the company possesses many world-leading solutions
in terms of transport and shipping programs and employs advanced technology to
serve the process of facilitating trade movement between countries, and he
explained that the company, as the official logistics partner for Expo 2020 Dubai,
has enhanced the provision of a distinguished transportation experience within
the largest global event in the Middle East, providing innovative solutions to
the main challenges addressed by the event and facing the world in our time,
which are opportunities, mobility and sustainability.

For his part
H.E Al Zeyoudi, emphasizing that enhancing openness and access to new
commercial markets is the title of the next stage, as foreign trade represents
one of the main drivers of the country’s economy during the next fifty years. H.E
also reviewed the current efforts led by the UAE – under the directives of its
wise leadership – to expand and strengthen the network of trade relations with
various promising markets, including India, Indonesia and many countries of the
world to serve the vision and future directions of the country.

Al Zeyoudi
stressed that strengthening the existing cooperation with leading international
companies such as UPS and developing them towards more advanced horizons,
especially in light of the pivotal role played by the logistics, transport and
shipping sector in developing and facilitating trade, serves the efforts of the
UAE and helps achieve its plans and vision for the next stage, and is a
priority that the MOE keens on strengthening it.

Scott Price, President of UPS
International, said that the UAE is a key player in the movement of trade,
transport and freight in the region, and is constantly developing its
capabilities and adopting advanced technologies to further drive the sector’s
development. For the sector to grow, it is important to update cross-border
regulations and policies to serve the country’s aspirations.

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