The Economic Integration Committee convened its fourth meeting of 2025, chaired by Abdullah bin Touq Al Marri, Minister of Economy, with the participation of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and directors of local economic development departments. The committee reviewed the positive outcomes achieved by the national economy in 2024, which contributed to economic diversification and enhanced business competitiveness and investment in the country.
Abdullah bin Touq Al Marri highlighted that the UAE’s economy, guided by visionary leadership, continues to achieve exceptional growth across various sectors. Non-oil GDP grew by 5%, reaching AED 1,342 billion, with non-oil sectors contributing 75.5% to the GDP, reflecting successful diversification policies.
The meeting discussed updates on cooperation plans between federal and local entities to develop economic legislation, crucial for transitioning to a knowledge and innovation-based economic model. This aims to enhance economic competitiveness and improve the business environment.
The committee also reviewed developments in the mutual evaluation process regarding anti-money laundering and counter-terrorism financing efforts, which are vital for enhancing the national economy’s reputation globally. Additionally, progress on the operational plan for company registrars was discussed, focusing on strengthening procedures for private sector entities.
Efforts to promote creative culture and protect intellectual property rights for musicians and artists were highlighted, including licensing collective music management to ensure fair financial distribution and transparency. The committee also explored initiatives to protect UAE products under the “Geographically Indicated National Product” system, promoting Emirati industries internationally and preserving cultural identity.
— new from (alwatan.ae)