UAE announces a special focus on trade at COP28

UAE announces a special focus on trade at COP28

The United Arab Emirates (UAE) will showcase international trade at the United Nations Climate Conference (COP28) for the first time in November and December.

The UAE Mission to the World Trade Organisation (WTO) announced that trade will have a dedicated day under the UAE's COP28 Presidency Thematic Program, focusing on its role in climate-smart growth and supply-chain resilience. The inclusion of trade aims to promote climate change mitigation and adaptation solutions while ensuring equitable access to global supply chains, benefiting small and micro-enterprises, especially in the global south.

The UAE Ministry of State for Foreign Trade and the COP28 Presidency will co-lead the committee on trade alongside the WTO Secretariat. The collaboration between UNCTAD, ICC, the World Economic Forum, and the Abu Dhabi Department of Economic Development will help shape trade discussions during COP28. This alliance, a first for a United Nations Climate Conference, emphasizes the significance of trade in addressing climate change.

The UAE Maritime Decarbonisation Centre, established in collaboration with DNV, aligns with COP28's focus on transformational change and will play a pivotal role in promoting sustainable practices in the maritime sector. It demonstrates the UAE's commitment to delivering actionable solutions and achieving its sustainability goals outlined in the UAE Net Zero 2050 Strategy. The COP28 Trade Day, scheduled for December 4 at Expo City Dubai, will facilitate discussions on introducing low-carbon solutions into global supply chains.

Additionally, the UAE's hosting of UNCTAD's 8th World Investment Forum in October and WTO's 13th Ministerial Conference (MC13) in February 2024 highlights the country's dedication to advancing sustainable development and trade policies. The WTO Secretariat's 2022 World Trade Report emphasizes the interlinkages between climate change and international trade and how trade can contribute positively to addressing climate challenges.

News Source: Emirates News Agency

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