UAE Ministry of Economy Participates in Global Trade Development Week in SingaporeSource: www.export-egypt.com 4/26/2017, Location: Middle East |
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World trade agreements and their impact on customs and streamlining of trade exchange between world countries were the main topic of discussion at the 2017 Global Trade Development Week, GTDW, Customs, Compliance and Trade Facilitation Summit and Exhibition in Singapore, in which representatives of the UAE Ministry of Economy participated.
The GTDW summit featured a number of sessions where international capacity building and development of best practice between the public and private sector were discussed, along with prospects of developing comprehensive regional partnerships among Asian and Pacific countries and how far such agreements can play a significant role in streamlining trade exchange. Juma Mohammed Al Kait, Assistant Undersecretary at the Ministry of Foreign Trade Affairs, participated in a panel session covering the impact on customs, compliance and trade facilitation. "The Trade Facilitation Agreement which entered into force in February 2017, is likely to streamline commodities trading, including transit trade, and therefore ensures accelerated access to world markets as a result of reduced import and export costs," Al Kait said. "The UAE was the first Arab country to ratify the WTO Trade Facilitation Agreement out of its solid belief in the paramount importance of boosting trade exchange and thereby strengthening its trade stature at the regional and global levels," he added. |
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