UAE Minister of Foreign Trade H.E. Sheikha Lubna Al Qasimi has today (Wednesday, October 14, 2009) launched www.moft.gov.ae, the Ministry of Foreign Trade’s (MoFT) official website, in a special press conference. The new portal includes a comprehensive foreign trade database and will be the main source of information on the Ministry and UAE trade and investment.
Through the website, the Ministry will be able to provide up-to-date and accurate information on trade-related trends and events to investors and researchers. The initiative reflects MoFT’s commitment to enhancing communication and interaction among the local, regional and foreign trade and investment sectors.
During the conference, H.E. Sheikha Lubna said that the website advances her Ministry’s vital role and vision of strengthening the UAE’s commercial status at the regional and international levels. She referred to several strategies for achieving this vision, including developing and promoting foreign commercial relations and interests; establishing a foreign commercial policy which complements developments in world trade and benefits the State’s economic agenda; and protecting the UAE’s commercial interests abroad.
She also spoke of increasing the state’s commercial competitiveness in the regional and international markets; developing a commercial legal environment in harmony with the State’s best practices; and attaining institutional distinction via competence and efficiency.
The Minister added that the website embodies Ministry goals concerning the promotion of the UAE among the foreign markets; the country’s excellent representation in regional and international exhibitions, conferences and other special events in collaboration with the Ministry of Foreign Affairs and other concerned parties; the strengthening of ties with regional and international bodies, institutions, and organisations in the field of foreign trade; and the preparation of programs and studies aimed at boosting exports and increasing competitiveness.
The MoFT site is available in both Arabic and English languages and is the latest addition to websites adopting advanced internet technologies. It provides numerous services for investors and the local and foreign commercial and economic sectors, such as trade information and news; the latest UAE commercial statistics; investment trends; relevant exhibitions hosted by the Emirates; and major global trade exhibitions. It will also include data on the UAE’s membership in and support for the World Trade Organization (WTO); trade negotiations among Gulf countries; and world economic and commercial groups.
The portal will also post studies carried out by the Ministry’s Department of Analysis and Information on investment opportunities in local and international markets as well as data on foreign trade between the Emirates and promising markets. In addition, the site will periodically feature publications in both Arabic and English languages, similar to those issued every 15 days and distributed to almost 3,000 investors inside and outside of the UAE. These publications provide foreign investors with the latest information on trade and investment opportunities within the country’s various economic sectors.
Other unique services include a bulletin related to commercial affairs which discusses WTO negotiations and activities and information on commercial exchange between UAE and countries all over the world during the last decade in terms of value, goods, exports, and imports. All these information provide additional support for investors to gain access to international markets and establish vital partnerships that help develop commerce and enhance investments in the Emirates.
It is worth noting that the site offers information on UAE commercial bureaus abroad, their contact channels, and the services they offer which contribute to promoting the Emirates and attracting foreign investment into the country. There are also special sections on WTO information and agreements translated into Arabic and the UAE’s WTO membership, including pledges, rights, and participation in meetings. Finally, the portal provides data on the status of trade negotiations and agreements conducted between the GCC and international economic groups, Singapore, and Association of Southeast Asian Nations Free Trade Area (AFTA) countries.
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