UAE calls Arab and Central Asian states to play a proactive role in reshaping the global economic landscape

Riyadh: Amid the backdrop of current world economic changes and challenges that could upset the balance of world economic powers, the UAE yesterday called on Arab and Central Asian states and Azerbaijan to play a proactive role in reshaping the global economic landscape and re-directing the economic gravity and weight towards the South. Addressing the First Forum on Economy and Cooperation of Arab Countries with the Central Asian States and the Republic of Azerbaijan hosted by the Kingdom of Saudi Arabia, Sultan bin Saeed Al Mansouri, UAE Minister of Economy, stressed the need for expanding the scope of joint cooperation between these countries in order to form a vibrant, effective economic alliance with the world order. The minister, who chaired the UAE delegation to the forum, said these states need creative ideas to boost economic cooperation, and increase inter-state trade and joint investment. According to him, the private sector role should be maximised as a strategic partner and key player in turning economic cooperation policies into tangible reality through adoption of a clear action plan. ''The two regions have tremendous potential and resources, promising investment opportunities and strategic geographic location. They also need to share expertise in areas of trade, economy, investment and to leverage economic cooperation in key sectors like industry, agriculture, food, SMEs and others in order to address regional and international economic challenges,'' Al Mansouri added. ''The First Forum can lay the foundation for a new chapter of ties between the two regions in all fields, particularly in economic, trade and investment areas for serving interests of peoples of the two regions. The Forum provides a fitting opportunity to establish a strong relationship, extend bridges of constructive cooperation between all stakeholders, and set principles and agenda for future meaningful dialogue between the two regions which can create together an effective economic giant in the international landscape,'' Al Mansouri noted. Held under the theme '' Prospects of Investment and Trade Exchange, the forum attracted ministers of foreign affairs, finance, economy, investment from 27 states and seven major financial and investment institutions in the Arab World, Central Asia and Azerbaijan to explore key common agenda in political, economic, social, cultural and academic fields. Delegates called for finding a peaceful solution to the issue of the three UAE islands: Greater and Lesser Tunbs and Abu Musa, occupied by Iran. Prince Saud Al-Faisal, Saudi Minister of Foreign Affairs, inaugurated yesterday the activities of the Forum, stressing that the meeting is of a particular importance since it is convened within the activity and significant development of Arab relations with other countries and regional groups throughout our world in order to strengthen and develop these relations, including relations of the Arab world with the Central Asian Republics and Azerbaijan. The Minister of Foreign Affairs said that ''when we meet today, we have a very clear and specific goal we have to achieve by activating all available means to revitalise our relations, breathing life into our channels of communication and activating cooperation mechanisms emanating from our common historical ties and to establish flourishing future relations. Prince Saud Al-Faisal further said that ''we all have to develop a road map to ensure steady growth to enhance communication and cultural convergence between our countries by holding exhibitions, conventions, common cultural forums and intensify cooperation between universities and research centres as well as to provide opportunity for students and young people to get acquainted and exchange visions and ideas and awaken their sense of what connects our culture of historical legacy and the common interests. – Emirates News Agency, WAM