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

16

Abu Dhabi: 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.