United Arab Emirates is actively participating in the 54th edition of the World Economic Forum in 2024, which takes place in Davos, Switzerland, from January 15 to 19. Comprising more than 100 distinguished individuals including entrepreneurs, private sector figures, and government officials, the Emirati delegation is the third largest international group attending the gathering in Davos and represents the most substantial Emirati involvement in the forum’s history.
The United Arab Emirates is participating in this significant economic event to reinforce its global leadership status in all facets of international cooperation and partnerships. This participation is a testament to the UAE government’s focus on economic affairs and its ambition to improve the country’s global competitiveness across various sectors that bolster the national economy.
Furthermore, this endeavor aims to facilitate the exchange of expertise, fostering a sustainable economy both domestically and internationally.
Mohammed Abdullah Al Gergawi, the Minister for Cabinet Affairs, stated that the United Arab Emirates’ persistent presence at the World Economic Forum in Davos underscores the nation’s strong interest in actively contributing to global forums across various fields, with a particular emphasis on the economic sector, which is a central focus of the UAE’s priorities.
He noted that all countries, governments, and international organizations, whether governmental or private, place significant importance on this sector due to its direct connection with the progress, prosperity, and general wellbeing of peoples, as reported by WAM.
Al Gergawi stated:
“During this important conference, the United Arab Emirates is striving to continue exchanging expertise and best practices that can serve as an inspiration for developing successful experiences and knowledge on an international level. Such practices are capable of contributing to the support of sustainable and comprehensive development for peoples and governments. Furthermore, the country is looking forward to drawing benefits from the sophisticated global practices through mutual cooperation and establishing effective partnerships across various sectors. This will assist in forming creative solutions to overcome challenges and build a brighter future for the coming generations.”
A substantial contribution from the major national companies and the private business sector.
Large companies in the UAE and private institutions are investing in participating in the World Economic Forum, which serves as a significant opportunity to initiate and develop partnerships between countries across various sectors.
The purpose of these partnerships is to exchange knowledge and perpetuate the process of development. Approximately 80 percent of the UAE representation at the “Davos” forum consists of officials from the country’s major national companies and private business sectors for the year 2024.
For the second consecutive year, the nation is participating with a distinguished pavilion featuring the motto “Impossible is Not an Option.” The program of this pavilion reflects the enormous boost that characterizes the United Arab Emirates’ participation in the forum’s activities. It also highlights the notable presence of a large gathering of leaders from leading national companies and prominent engineers from both the public and private sectors.
The World Economic Forum provides a valuable opportunity for large local companies and the private sector to exchange knowledge and establish and enhance partnerships across various sectors.
It also offers a global platform for strengthening collaborative relations among countries and reinforces the foundations for mutual cooperation between nations and diverse organizations. The Forum’s new session is being held under the theme “Rebuilding Trust – Trust in Our Future, Trust among Community Members, Mutual Trust between Nations.“
The World Economic Forum is a global platform that convenes annually, attracting over 3,000 distinguished individuals, including leaders, decision-makers, and high-ranking officials from both public and private sectors from around the world.
Its goal is to discuss the pressing issues and significant changes faced by the globe, present strategies and the latest developments, and foster cooperative relationships across various economic and developmental fields.
The conclusions reached by the forum, as well as the ensuing dialogues and collaborations, play a role in promoting sustainable development and devising solutions to some of the most critical challenges confronting global growth.
UAE’s participation
The United Arab Emirates is actively participating in the current edition of the World Economic Forum, with a significant presence in key sessions, specialized meetings, and associated activities.
There’s also a distinctive exhibition reflecting the nation’s cultural identity and unique characteristics, hosting prominent events, public discussions, as well as media interviews that attract leaders of major national companies, private sector decision-makers, and government officials.
High-level bilateral meetings are being held that bring together esteemed personalities to present successful Emirati models, exchange expertise with the global community, and engage in fruitful dialogues with participating international organizations.
The country’s participation plan in this five-day event encompasses a range of sessions across several areas, including the field of education. The UAE will engage in discussions about the opportunities and challenges presented by the adoption of artificial intelligence within this sector.
Additionally, the strategies for institutions and government bodies to adapt to these technologies and maximize their benefits will be examined, as well as the most important ways to enhance learning skills.
Furthermore, the event will explore the prospects and possibilities for collaboration between the public and private sectors in order to improve creative and effective educational models and methods.
In the realm of diplomacy, the country actively participates in a range of meetings where numerous issues are debated, including an analysis of the repercussions of conflicts on the Middle East region and their various trajectories.
It also endeavors to find the best ways to balance major geopolitical motivations and overcome the obstacles that prevent achieving stability and enhancing global cooperation.
The United Arab Emirates participates in several sessions related to the economy, foreign trade, investment, and the environment. These sessions cover topics about the BRICS group and its development prospects, its effects on the global economic structure, and the geopolitical and economic situation. Discussions also address the impact of technologies on global trade and investment growth, as well as the future of international trade and foreign direct investment, taking advantage of their extensive potential.
Moreover, there is exploration of the prospects for a new global trade system alongside debates on using trade as a means of economic development. The discussions include ways to make the global trade landscape more inclusive and environmentally responsible, and how to implement modern technologies in the business sector.
UAE is participating in a series of meetings aimed at developing principles that contribute to strengthening the bonds of cooperation between various sectors in order to bridge the digital divide on a global level.
These meetings also focus on exploring ways to reinforce new partnerships that have become feasible, addressing the major barriers that impede global digital transformation, financing digital inclusion, and also managing global governance related to artificial intelligence technologies.
The UAE forms an effective strategic alliance with WEF in Davos.
The United Arab Emirates’ participation in the 2024 International Economic Forum, featuring a significant presence of the country’s largest national companies and the private sector, is founded on an active strategic alliance that fosters cooperation and reciprocal communication between the two parties.
The UAE thus continues a journey of involvement that has spanned over twenty years, marked by the signing of numerous agreements designed to bolster the framework of joint cooperation and action across various sectors and strategic fields.
This participation is seen as a continuation of the fruitful cooperation between both sides. The areas covered include major sectors such as Global Future Councils and commerce, with the goal of stimulating activity within these sectors through the introduction of innovative ideas that align with current transformations.
During the most recent session of the international economic event, the government of the United Arab Emirates agreed with the forum to host the sessions of the Global Future Councils. These sessions were, in fact, held in the UAE in October 2023.
This move reaffirms the UAE government’s commitment to enhancing the study and foresight for the future in several crucial and developmental sectors. The purpose of this initiative was to exchange expertise and experiences, and to work on developing appropriate solutions for issues of paramount global importance. This includes a focus on sustainability in the environment and development, as well as improving readiness for the future.
The United Arab Emirates signed a memorandum of understanding with the World Economic Forum intended to support a government-launched initiative in the field of trade technology. This initiative aims to expedite the digital transformation of trade operations, enhance customs procedures, and ease the integration of developing countries into the global trading system, thereby opening new prospects for trade growth.
The agreement also focuses on mutual collaboration to organize a global forum that gathers leading minds in trade, industry, and technology to exchange expertise and best practices. It outlines the preparation of an annual research report that provides an overview of trade technology, its practical applications, and emerging trends in the field.
Furthermore, it encompasses the establishment of a regulatory laboratory that allows both established and budding companies to test innovations in trade technology. The agreement also supports the creation of a center dedicated to nurturing startups and innovative initiatives with promising potential in this sector.
The latest edition of the forum witnessed the signing of an agreement between the two parties to establish a center for the Fourth Industrial Revolution in the UAE. Additionally, a memorandum of understanding was signed to support the implementation of the Fourth Industrial Revolution protocol, a framework developed by the UAE government aimed at bolstering joint efforts and defining the foundational rules that regulate and strengthen the application of this protocol and its related principles.
Participate and engage positively with the aim of enhancing the future of humanity.
The agreed-upon terms between the government of the United Arab Emirates and the organization are designed to generate more opportunities for private institutions in the Emirates and major national companies.
This initiative aims to strengthen the partnership with the organization to bolster the foundations of communication and cooperation on an international level.
The ultimate goal is to contribute to the creation of a thriving future for humanity by working together to find inclusive solutions, encouraging international dialogue, and amalgamating efforts. All these aims are set in place to aspire for a superior future for the current generation and those to come, amidst the various challenges the world is facing across different fields such as development, economy, business, climate change, the fourth industrial revolution, and more.
GOOGL 
AMZN 
MET 
T 
WPM 
DM 
SVM 
CMC 
HKDUSD=X 
BABA 