Abu Dhabi, For the first time in the UAE, the Emirates Diplomatic Academy, EDA, is hosting the Economic Diplomacy Seminar for the UAE and Saudi Arabia, aimed at strengthening the economic might of the two nations.
Held in partnership with Prince Saud Al-Faisal Institute of Diplomatic Studies, the event seeks to support UAE and Saudi entities in foreign markets, evaluate the level of global integration of their economies and promote the attraction of foreign direct investments, FDI, to support job creation in the two countries.
The event was attended by the Saudi Ambassador to the UAE Turki bin Abdullah Al-Dakhil; Dr. Mariam Ibrahim Al Mahmoud, Acting Deputy Director-General of EDA and Dr. Abdullah Al-Salamah, Director General of Prince Saud Al-Faisal Institute of Diplomatic Studies.
Addressing the gathering, Dr. Al Mahmoud said, "The UAE and Saudi Arabia have many common interests. They both view economic prosperity as a top priority, and share a vision to develop a knowledge economy and gradually increase the contribution of non-oil sectors to the GDP by 2030. In this context, we are proud to organise the first Economic Diplomacy Seminar for the two countries. The goal of this significant event is to boost the economic power of our nations."
She added, "In the current changing world order, economic diplomacy is crucial to wielding influence and to growth. I am confident that our distinguished panel of experts will propose pivotal ideas to help overcome global economic challenges."
The event will feature an impressive line-up of experts, economists, diplomats and academics. Participants will predominantly focus on the vital roles that ministries of foreign affairs and embassies play in economic diplomacy.
For his part, Dr. Al Salamah, said, "A deep-seated cognition of economic and commercial diplomatic skills, as well as know-how of international organisations, global economic and trade changes, and opportunities and challenges, are key strengths in diplomatic work today. This includes a comprehensive understanding of the vital roles of embassies and diplomatic missions in protecting national interests, promoting investments, and accessing new markets."
He added, "As our countries move towards a more diversified economy, it is crucial to bring together domain experts and diplomats, in order to gain a deeper insight into the various challenges, while also ensuring the effectiveness of diplomatic performances."
Running at Four Seasons Hotel Abu Dhabi on 8th and 9th December, the seminar highlights the UAE's and Saudi Arabia's economic prospects, as well as the importance of diplomatic missions in achieving the objectives of the two nations. Experts will also discuss the current and future trends in the regional and global markets, including geopolitical risks and climate change, and their impact on the world economy.
Furthermore, the seminar will examine the statistics and prospects of FDI in the UAE and Saudi Arabia, as well as review proposals of policies for diplomatic missions, aimed at driving development programmes and initiatives.
Source: Saudi Press Agency