27 Oct 2014 16:30pm
DUBAI, 27 OCT (NAMPA) The Global Trade Development Summit for 2014 commenced in Dubai in the United Arab Emirates (UAE) on Monday morning.
The UAEs Minister of Economy, Sultan bin Saeed Al Mansoori officially opened the summit at a local hotel.
The three-day summit is being attended by more than 600 government and business leaders from over 90 countries.
It is aimed at providing participants with a networking platform, where they can share and exchange ideas regarding global trade and investments.
Al Mansoori said the summit was founded in 2008 in Dubai.
This years summit will discuss strategies on how countries could succeed in the endeavours of a global free trade.
There is no trade development model we can all refer to as the perfect one, applicable to all of us in achieving top economic growth in our countries.
We need to share ideas during this summit, and come up with the best trading development models applicable to all of us, he stated.
Al Mansoori indicated that the UAE is today best- known as a nation with a strong tradition of trading.
The UAE first started this trading model within the UAE, and later extended it to neighbouring and overseas countries.
As the years went by, he said, the key infrastructure of the UAE like the logistics hubs, airport facilities, banks, schools, railway lines and road infrastructure grew tremendously.
The Minister of Economy stated that it is important to invest money in a countrys infrastructure to facilitate the free flow of trade within the country and elsewhere in the world.
Namibia is being represented here by the Minister of Trade and Industry, Calle Schlettwein and some 10 trade and industry specialists from his ministry, the Offshore Development Company (ODC) and the Namibia Trade Forum (NTF).
According to Schlettwein, the presence of the ODC specialists at the summit is crucial as they represent Namibias export and processing sector, while the NTF represents the private business sector.
On Tuesday, Schlettwein will deliver a presentation at the summit on exploring the role of Free Trade Agreements (FTAs), developing trading with emerging markets and strengthening trade in conventional markets.
The Global Trade Development Summit ends on Wednesday.