Emirates Press

ABU DHABI: Agricultural trade reforms at the World Trade Organisation (WTO) are essential to meet global food security, climate and biodiversity goals, Don Farrell, Australia’s Minister for Trade and Tourism, told the Emirates News Agency (WAM).

“Agricultural reform is important to Australia. We think that free and fair trade in agriculture helps lift people out of poverty around the world,” said Minister Farrell, who leads the Australian delegation to the WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi.

In an interview with WAM at the ongoing conference, he suggested finding a way to move forward on agriculture that bolsters long-term food security for the most vulnerable. “It is Australia’s view that it will not be possible to meet global food security, climate and biodiversity goals without making progress on agricultural trade reform, including environmentally harmful subsidies.”

Exciting experience at MC13

Talking about his experiences of attending MC13 in Abu Dhabi, Minister Farrell said, “The
UAE has just been fantastic. Abu Dhabi is a beautiful city, and the UAE is a beautiful country. So, I am very excited to be here.”

As the UAE and Australia agreed last December to launch negotiations on the Comprehensive Economic Partnership Agreement (CEPA) to enhance trade and investment flows between the two countries, “we intend to make progress [in this regard],” the minister said.

He expressed hope that CEPA could be signed this year.

“A trade deal with the UAE will strengthen our relationship with one of our most important trading and investment partners in the Middle East. This is an opportunity to deepen our cooperation in addressing global economic challenges and our shared ambition to transition to net-zero.”

Other priorities at MC13

At MC13, Australia is looking forward to progress in negotiations on the dispute settlement procedure, fisheries subsidies and renewal of the moratorium on imposing customs duties on electronic transmissions, Minister Farrell said.

“We very much support free trad
e. We are an island nation, and our prosperity is dependent upon increasing fair trade around the world.”

About negotiations on the dispute settlement procedure, he said, “We have not given up on the prospect of making progress. From Australia’s point of view, we will be pushing very hard to get an appellate process, and we believe that the system works best when there is an appellant process as part of the rules of the WTO.”

On fisheries subsidies, he pointed out that there was some progress at MC12, and further progress could be made in Abu Dhabi.

Minister Farrell welcomed the accession of Timor-Leste and Comoros to the WTO, which was officially announced on the first day of MC13.

Timor-Leste is a close regional partner, and its WTO accession has the potential to contribute greatly to the country’s economic sustainability, diversification and private sector growth through further integration into the regional and global economy, he said.

Around 164 nations and trading blocs are participating in the Min
isterial Conference, the WTO’s top decision-making body, which meets usually every two years.

Source: Emirates News Agency

WORLD CAPITALS: Gold prices remained steady on Thursday, and have held ground so far this month, as traders await a key US inflation reading due later in the day.

Spot gold was steady at $2,035.78 per ounce, as of 0419 GMT. US gold futures edged 0.1% higher to $2,044.20.

Spot silver edged 0.1% higher to $22.48 per ounce, platinum climbed 0.4% to $882.24, and palladium jumped 1% to $937.56.

Source: Emirates News Agency

CAIRO: Egypt signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced.

Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the agreements represent a new step for the Sovereign Fund of Egypt (TSFE) in its investment partnerships with major global companies to establish green hydrogen projects in the Suez Canal Economic Zone.

She added that the agreements are expected to bring in investments of $12 billion for the pilot phase and $29 billion for the first phase, for a total of $40 billion over 10 years.

The agreements cover a wide range of projects, including the production of green hydrogen, green ammonia, and renewable energy.

Source: Emirates News Agency

ABU DHABI: Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority (GCAA), announced that the UAE’s airports surpassed 134 million passenger mark in 2023 and are projected to reach 140 million by 2024.

He attributed this achievement to the robustness and competitiveness of the UAE aviation sector, which has earned considerable international confidence.

In a statement to the Emirates News Agency (WAM), Al Suwaidi highlighted that UAE airports recorded approximately 38 million arrivals, 37.805 million departures, and 58.328 million transit passengers in 2023. He emphasised that this growth was bolstered by the resurgence of tourism and the successful hosting of major international conferences towards the end of the year.

Expressing optimism for 2024, Al Suwaidi anticipated further growth in passenger traffic to potentially reach 140 million. He mentioned expansions underway at international airports, particularly the inauguration of Zayed International Airport – Terminal A and the
current expansion at Al Maktoum International Airport. These developments will enable UAE carriers to operate more flights to diverse destinations.

Al Suwaidi underscored the UAE’s robust aviation sector, boasting over 521 aircraft belonging to national carriers and a total of 924 registered aircraft in the country. He also highlighted the presence of numerous local and foreign aircraft maintenance companies, training institutions, and specialised medical facilities catering to civil aviation.

Regarding unmanned aerial vehicles (UAVs) for amateurs, Al Suwaidi noted that over 22,000 are registered with the GCAA, but their operation remains suspended until further notice.

Looking ahead, Al Suwaidi outlined strategic projects focused on improving airspace management and ensuring smooth air traffic flow. Over AED700 million has been allocated to upgrade services at the Sheikh Zayed Air Navigation Centre over the next decade.

He mentioned that the authority is actively implementing a variety of transformative
projects and initiatives aimed at directly fostering the economic and operational development of the aviation sector.

Source: Emirates News Agency

ABU DHABI: Rwanda finds the negotiations at the World trade Organisation’s (WTO) 13th Ministerial Conference (MC13) in Abu Dhabi, especially in agriculture, fisheries, digital trade, are vital for millions of people around the world.

Dr. Jean Chrysostome Ngabitsinze, Rwanda’s Minister of Trade and Industry who leads his country’s delegation to MC13, said Rwanda is actively participating in the negotiations on agriculture and fisheries that have the capacity to help people walk out of poverty.

In a statement to the Emirates News Agency (WAM) at the ongoing conference, the minister said concluding the agreement to stop illegal fishing in the oceans is very important.

Digital trade

Talking about digital trade rules, Dr. Ngabitsinze pointed out, ‘Today the world is globalised. Therefore, online the payment system is crucial.’

As digital payment systems help improve the speed and efficiency of transactions, defined rules and regulations will encourage more people to use them, he added.

Climate issues also wa
rrant special attention at MC13, the minister said. Rwanda supports the reforms into the dispute settlement mechanism, he stressed.

Rwanda-UAE ties

The UAE is Rwanda’s important trading partner, Dr. Ngabitsinze emphasised. He appreciated the UAE for the well-organised conference in Abu Dhabi and offering a US$10 million grant to support a number of key initiatives of the World Trade Organisation (WTO).

‘This is the kindness of the UAE to support all countries. It is touching. I thank the leadership here and I hope they will continue to support the WTO and other countries.’

Around 164 nations and trading blocs are participating in the Ministerial Conference, the WTO’s top decision-making body, which meets usually every two years.

Source: Emirates News Agency

ABU DHABI: The Director-General of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, recognised the UAE for its support to strengthen IAEA’s safeguards activities globally.

The Federal Authority for Nuclear Regulation (FANR), the UAE’s independent nuclear regulator, stated this while participating last week in a three-day Member State Support (MSSP) Coordinator’s Meeting organised at the IAEA headquarters in Vienna, Austria.

FANR presented the UAE Safeguards Support Programme (UAESSP), signed with the IAEA in 2023 and led by the country’s nuclear regulator. Being the first programme in the Middle East, the UAESSP facilitates the IAEA to further its strategic plans and enhance the effectiveness and efficacy of safeguards. In addition to the UAE providing financial contributions, FANR also identifies and harnesses national and international knowledge and expertise that can support IAEA safeguards needs

UAESSP’s tasks will involve cooperation with other states who are parties in the MSSP t
o focus on specific areas such as research and development, testing of equipment and software, and developing and delivering safeguards training.

‘Joining the MSSP is intended to strengthen the effectiveness and efficiency of the IAEA’s nuclear verification system. Our contributions in that framework should be sustainable, constructive, and pragmatic; should transfer the UAE’s expertise; support the development of new equipment and technology needed to support the IAEA in carrying out its important function: to ensure global nuclear non-proliferation,’ said Raoul Awad, Deputy Director-General for Operations of FANR.

Nuclear safeguards are technical measures embedded in bilateral agreements between the IAEA and a state, implemented by the IAEA to assure the international community that nuclear material remains in peaceful use.

Established in 1977 and currently having 24 countries, MSSPs have been assisting the application of safeguards, providing many of the tools and techniques presently used by IAEA inspe
ctors around the world for nuclear verification, and supporting the IAEA’s in-house capabilities. For example, the Network of Analytical Laboratories (NWAL), comprising 24 external laboratories in the IAEA Member States and the European Commission, analyse nuclear material and environmental samples on behalf of the department, supplementing the work performed at the IAEA’s own laboratories in Seibersdorf.

The UAE’s nuclear law calls on FANR to regulate the nation’s nuclear sector for peaceful purposes, and as part of its efforts to implement that mandate, FANR issued Regulation 09 on the Export and Import Control of Nuclear Material, Nuclear Related Items and Nuclear Related Dual-Use Items and Regulation 10 for the System of Accounting for and Control of Nuclear Material and Application of Additional Protocol.

As FANR is mandated to regulate the UAE nuclear sector, FANR licences companies to conduct regulated activities, conducts inspection of licensees, and works in close cooperation with local and federal
government agencies to ensure compliance with international law and national laws and regulations.

Source: Emirates News Agency