UAE calls for actions against trade protectionism

The foreign trade minister of the United Arab Emirates (UAE) said governments worldwide should take measures to remove trade protectionism in the wake of the global economic downturn, the state news agency WAM reported Tuesday.

Any curbing of trade activities between countries would hinder rather than help global economic recovery, Sheikha Lubna Al Qasimi was quoted as saying in an interview with Oxford Business Group, a global publishing, research and consultancy firm.

Measures such as strengthening the multilateral trade rules and controls should be explored swiftly, she said.

"The only way to move forward in the trade system is to expedite serious negotiations and actual trade exchange among World Trade Organization (WTO) member countries," Sheikha Lubna added.

On the Gulf nation's economy, she said the decision to place emphasis on goods, resources and services was set to bring about a further increase in the non-oil-related contribution to the GDP.

The UAE's performance in trade activity had remained strong despite the global economic challenges, Sheikha Lubna said.

"Generally speaking, despite the 11.9 percent decrease in global trade in 2009, the UAE was able to register an 8.1 percent growth in its exports," she said.
(Source:xinhua)