UAE: World Investment Forum's outcomes to feed into Cop28 negotiations

The UAE will host the eighth edition of the World Investment Forum this year to discuss key global challenges including food security, energy, health, supply-chain resilience and infrastructure.

Set to be held a few weeks ahead of the Cop28 conference in Abu Dhabi, the forum will enable policymakers and other stakeholders to find solutions and reach a consensus on priority issues, and its outcomes will feed into Cop28 negotiations, said a statement issued by the organisers.

Organised by the Ministry of Economy and the United Nations Conference on Trade and Development (UNCTAD), the forum will be held from October 16 to 20 under the theme of “Investing in sustainable development.”

While the 28th Session of the Conference of the Parties (Cop28) will be held at Expo City Dubai from November 30 to December 12, 2023.

"I see how investors, firms and governments are, in increasing numbers, putting sustainability and long-term value at the core of their activities," said Rebeca Grynspan, secretary-general of UNCTAD.

"The World Investment Forum aims to bring them all together to make a positive contribution to addressing today’s most pressing issues, including through climate finance and investment,” she said.

Dr Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, said the challenges the world faces, whether systemic issues such as climate change, inequality and food security or mitigating the pandemic’s impact on trade, investment and supply chain resilience, require unity of purpose and action on an unprecedented scale.

“At a time when much of the world is struggling with contracting markets and a post-Covid recovery that has yet to fully take hold, World Investment Forum is an important opportunity to take a long-term perspective," Dr Al Zeyoudi said.

Mohamed Ali Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, the UAE will continue to work with all countries towards alleviating poverty and supporting long-term growth for sustainable development. “We have a clear vision on how to scale the solutions required to help move the world forward and achieve real progress."

Against the backdrop of a highly volatile global economic landscape, he said, the international community shares a collective responsibility to address the challenges facing the multilateral trading and development system.

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