The UAE targets an increase from a contract to ratify measures in facilitating global trade following a burst trough in World Trade Organization talks in Bali.
As stated by a former chief economist at the Dubai Int’l Financial Center, Nasser Saidi, there will be recipients because they rank high above in logistics and trade efficiency. They have advanced ports and airports with the suitable infrastructure to aid in trading of goods and services.
Mr. Saidi added that these UAE companies such as Aramex should celebrate as they could be in the forefront in the Arab world because of this.
“The trade facilitation decision is a multinational deal to simplify customs procedures by reducing costs and improving their speed and efficiency,” the WTO said.
Even though the Middle East would benefit from any common increase in general global trade, the immediate result will be partly due to the reason that the main export of the region, energy products, has to this point been left mostly outside the remit of the WTO talks.
The Etihad Airways, as well as Emirates Airline as possible beneficiaries, are anticipated to reach a high rise in international trade as an effect of the Bali agreement, accounted by some experts to be valued at an extra 1 trillion dollars for a world trade system of about 18 trillion dollars.