UAE's Belt and Road Initiative Summit participation highlights its role as global trade hub linking Asia, Europe and Africa

 


Essential function in global trade


The UAE has been utilising its development potential, advantageous position, and innovative economic role in the area to be an active player in the Belt and Road initiative since its inception. Since the effort emphasises the UAE's crucial position in global trade and is in accordance with the goals of the UAE Centenary, it is seen as a good chance to promote the nation's growth and investment ambitions regionally and internationally. Since they account for over 30% of the UAE's non-oil trade, the economic partnership agreements the UAE established as part of the programme serve as a crucial foundation of that sector.

New business and trade alliances


The UAE's involvement in and support of the effort will benefit trade, infrastructure, and transit projects, lower investment costs, and pave the path for the country to forge new economic and trade alliances.


The Asian Infrastructure Investment Bank (AIIB), which is headed by China and works to support development efforts in Asia and other nations, also counts the UAE as a founder member and has an active membership.


The 65 nations included in the One Belt - One Road Initiative account for 30% of the world's GDP, and predictions show that by 2040, they will account for nearly two-thirds of it, ranking them among the most significant growth engines. 

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