UAE positions itself as global bridge for cross-border cooperation, minister says
The UAE is intensifying efforts to solidify its standing as a global bridge for international cooperation, reaffirming its commitment to building inclusive, mutually beneficial global partnerships, and bridging south-north divide.
Speaking during the Global South Economic Forum (GSEF), at the Anwar Gargash Diplomatic Academy on Tuesday, Ahmed bin Ali Al Sayegh, Minister of State at the UAE Ministry of Foreign Affairs, underscored the country's evolving diplomatic strategy, which places a strong emphasis on fostering dialogue and collaboration between the Global South and the Global North.
'We have to reclaim global narratives towards inclusivity, and finally, strengthen South-South and equally important South-North partnerships based on mutual respect, shared opportunity and strategic autonomy,' said Al Sayegh.
'The UAE is proud to contribute to this vision in various ways, including its outward looking economic diplomacy, whether through investments in clean energy, digital connectivity, food security or development financing. We remain committed to enabling pathways for shared prosperity as a nation at the crossroads of continents and cultures. The UAE sees its role not only as a bridge, but also as a collaborator and catalyst for cooperation that transcends geography. Our region has always been open for trade, has always been connected with friendships and partnerships, and I believe this forum today bodes well to continuing these hundreds of years old tradition and I look forward to hearing more about its outcomes.'
Other experts also reiterated that the UAE's positioning as a collaborative nexus for global engagement continues to evolve in parallel with its strategic investments in sustainable development, innovation ecosystems, and inclusive diplomacy.
Nickolay Mladenov, Director General of the Anwar Gargash Diplomatic Academy, echoed this sentiment, while pointing to a palpable shift in global influence and ambition.
'We're witnessing today a shift… a shift, not just in the economic weight, but very importantly, a shift in the intellectual leadership, in innovation and in ambition coming from the global south,' said Mladenov.
'From Sao Paulo to Nairobi, from New Delhi to Jakarta, voices from the south are pushing in and rebalancing the local rules of engagement, and they're absolutely right to do so.'
According to a recent Boston Consulting Group (BCG) report, Global South is becoming a powerhouse of economic growth. Excluding China, the bloc of 133 nations accounts for roughly 18 percent of global GDP. Including China, that share rises to 40 percent -- and represents 65 percent of the global population. The combined GDP of these nations is projected to grow by 4.2 percent annually through 2029, more than double the 1.9 percent expected for advanced economies.
Trade within the Global South is also rising, with South-South trade projected to grow at a CAGR of 3.8 percent through 2033, compared to 2.2 percent for North-North trade. By 2033, Global South trade could reach US$14 trillion annually.
He added, 'Intra South trade and investment are growing faster than ever. Many global south countries now control critical resources for the global energy transition, over 65 per cent of populations under 30 are in the Global South. It's not just that they're there…they're digitally connected, they're creative, and they're ready to shape the future.
'Today, we look at the global south that is adopting technologies and adapting them to use and leapfrog traditional development models. All of this is happening right in front of our eyes, and yet, with all that potential around us, the global multinational architecture has still not caught up to these changes, and this is why we wanted to have the discussions in the forum today.'
Conduit between regions
Mladenov emphasised the UAE's readiness to serve as a conduit between regions at a time of heightened geopolitical fragmentation.
'Here in Abu Dhabi and the UAE, we're very happy to play the connecting role that links north and south through diplomacy, through logistics, through innovation, through the comprehensive and economic partnership agreements.
The UAE has sought to build bridges at a time when others build walls. We desperately need to think about the future of multi polarity, not with confusion and fear, but with confidence.
We need to harness the new technologies of the future without deepening the divides that already exist. We need to think about building systems of trade, of investment, of connectivity that reflect the priorities of the world.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
Octa's oil outlook: Middle East tensions threaten global supply
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 21 June 2025 - Crude oil, which is arguably the world's most important commodity, is on everybody's mind right now. The flared up conflict in the Middle East is increasing risks of a major oil supply shock, potentially pushing the price of 'black gold' into the stratosphere and completely derailing the global economy. In this article, Octa, a global retail broker, shares its expert opinion on the unfolding situation and outlines possible scenarios for the global oil market. As it often happens, the market started to price in the possibility of a new conflict in the Middle East well in advance. On 11 June, oil prices rose more than 4% after reports surfaced that the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the region. Two days later, Israel and Iran exchanged airstrikes, pushing both Brent and West Texas Intermediate (WTI), the world's two major oil benchmarks, to five-month highs as investors anticipated potential supply disruptions from an open conflict. To this day, the conflict continues without resolution and oil prices remain elevated even as there are some telltale signs that the parties may be willing to negotiate. 'This burgeoning unrest introduces an unprecedented degree of volatility, significantly amplifying the specter of a catastrophic oil supply shock', argues Kar Yong Ang, a financial market analyst at Octa broker, adding that the conflict between Israel and Iran 'carries ominous potential to propel crude prices to unprecedented levels, thereby unleashing a cascade of detrimental effects that could, in the most dire of scenarios, cause a major global economic crisis'. Indeed, the Middle East in general and Iran in particular play a pivotal role in global energy markets. A substantial portion of the world's crude oil and liquified natural gas (LNG) is produced and exported in this region. Iran itself, despite the existing sanctions on exports, remains an important supplier of oil—notably, for China. Furthermore, a vast number of ships carrying crude oil and LNG transit through the Strait of Hormuz, a narrow yet vital chokepoint that Iran has repeatedly threatened to close. Should Iran act on this threat and block the strait, the repercussions would be quite severe, likely pushing global crude oil prices well above $100 per barrel, or even higher, due to the significant disruption of supply. Technically, if we look at a broader, long-term picture, WTI crude oil seems to be moving sideways with a minor bearish tilt. On a daily chart (see below), the price still has not escaped from the bearish parallel channel. However, due to the latest geopolitical news, the price has managed to rise above the 200-day moving average (MA) and seems poised to break above the critically important 77.60-78.00 area. 'Breaching the $80 handle should not be difficult if the current situation deteriorates sharply', says Kar Yong Ang. 'Continuing destruction of oil infrastructure in Iran, potential U.S. involvement in the war, countries' unwillingness to negotiate and, above all else, Iran's attempts to block the Strait of Hormuz, all of this will have a bullish impact on prices'. Indeed, a break above 80 level, would open the way towards 83.40, 85.20, 87.30, and 90.00 area. Alternatively, in case the hostilities moderate somewhat, other countries—particularly the U.S.—refrain from directly participating in the conflict, and both Israel and Iran express willingness to negotiate, bearish sentiment will immediately kick in. 'I think WTI oil may lose as much as 5 dollars per barrel in the blink of an eye should we see some progress in nuclear negotiations between Europeans and Iranians, which are due to commence in Geneva this Friday', concludes Kar Yong Ang. In this scenario, a break below 71.50 level would allow bears to target 67.80, 64.80 and 61.70. Overall, WTI crude price is now stuck in a broad range between $70 and $80. The move above and below these two levels will essentially indicate if the situation in the region is getting worse or is getting better. The chart below shows potential bullish and bearish targets, marked in green and red, respectively. NYMEX light sweet crude oil (WTI) daily chart ___ Disclaimer: This press release does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences. Hashtag: #Octa The issuer is solely responsible for the content of this announcement. Octa Octa is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including improving educational infrastructure and funding short-notice relief projects to support local communities. In Southeast Asia, Octa received the 'Best Trading Platform Malaysia 2024' and the 'Most Reliable Broker Asia 2023' awards from Brands and Business Magazine and International Global Forex Awards, respectively. Octa
UAE Moments
4 hours ago
- UAE Moments
Two Dubai Restaurants Make it to World's 50 Best Restaurants
Two Dubai-based restaurants made it to the 2025 World's 50 Best Restaurants, and they are Tresind Studio and Orfali Bros. The annual list was revealed in Turin, Italy. Tresind Studio ranked 27th in the list, while Orfali Bros ranked 37th. Both restaurants had made it to the list last year, with Tresind ranking 13th and Orfali ranking 64th. Both restaurants are the only restaurants from the Middle East to make it to the list this year. This ranking follows Tresind Studio earning its third Michelin star in May this year. Tresind is an Indian-fusion restaurant run by head chef Himanshu Saini, which is located on the Palm Jumeirah.
UAE Moments
4 hours ago
- UAE Moments
US Airlines Cut Gulf Routes Amid Regional Tensions
American Airlines and United Airlines have suspended their Gulf routes due to escalating tensions in the Middle East. The move marks the first time major U.S. carriers have paused services to key transit hubs like Doha and Dubai, raising concerns among travelers and industry insiders. American Airlines Suspends Philadelphia–Doha Route American Airlines has suspended its daily flight from Philadelphia to Doha, Qatar. The last flight departed from Doha early Thursday, and service is paused until at least June 22. The decision follows a security advisory from the U.S. Embassy in Qatar, which urged American citizens to remain vigilant, avoid demonstrations and large gatherings, and keep a low profile. In a statement, American Airlines said: 'We will continue to monitor the situation with safety and security top of mind and will adjust our operation further as needed.' United Airlines Halts Newark–Dubai Service United Airlines also announced it has paused its daily Newark–Dubai flights. The airline stated it would resume the service only 'when it's safe.' This follows earlier suspensions of Tel Aviv routes by both United and Delta, after Israel launched airstrikes against Iran earlier this month. Major Hubs Affected for the First Time This is the first time the aviation disruption caused by the Israel–Iran conflict has affected regional transit giants like Dubai and Doha. These hubs are vital for long-haul flights connecting the U.S., Europe, and Asia. Air France-KLM and Air Canada have also canceled multiple flights to Gulf destinations this week, including Dubai and Riyadh, signaling a wider trend of caution among global carriers. Airspace Disruptions Continue Airspace closures reached a peak on Friday. Israel halted all overflights, and Iran temporarily shut down operations at Tehran's main airport. Other countries in the region, like Iraq, Syria, Jordan, and Lebanon, have been alternating between opening and closing their airspace as tensions evolve. Meanwhile, the U.S. Embassy in Qatar reported temporary restrictions on access to Al Udeid Air Base, a key U.S. and allied military facility in the region. What This Means for Travelers If you're traveling to or through the Middle East in the coming weeks, be sure to double-check your flight status and monitor embassy advisories. Airlines are expected to resume services only when the regional situation stabilizes.
