Ministry of Economy, UPS to Promote UAE as Logistics, Supply Chain Hub
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.
This will be done 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.
H.E. Bin Touq said: "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."
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.
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.
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.
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.
UPS also 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 event.
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.
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.