Ministry of Foreign Affairs Convenes Special Economic Dialogue at UN General Assembly
The UAE's Ministry of Foreign Affairs hosted an exclusive MoFA Dialogues session during UNGA 81, exploring global economic trends and the nation's position as a resilient economic powerhouse amid shifting geopolitical landscapes.
New York played host to a distinctive forum of economic insight as the Ministry of Foreign Affairs organised a special session of its MoFA Dialogues: Voices of Influence initiative during the 81st United Nations General Assembly. The gathering brought together Badr Jafar, Special Envoy for the Minister of Foreign Affairs for Business and Philanthropy, alongside Professor Mohamed El-Erian, chief economic adviser to Allianz, for a substantive exploration of forces reshaping the global economy.
The dialogue examined pressing economic themes including inflationary pressures, interest rate trajectories, sovereign debt dynamics and growth trajectories, whilst considering the transformative implications of artificial intelligence. Participants also analysed geopolitical and structural shifts reshaping international commerce, and the distinctive opportunities emerging for agile economies positioned to capitalise on these transitions.
Central to the discussion was the UAE’s economic architecture and its capacity to contribute meaningfully to global stability. Mr Jafar highlighted the nation’s considerable strengths: non-oil sectors now represent nearly 79 per cent of gross domestic product, whilst sovereign wealth assets stand at approximately USD 2.49 trillion. The UAE maintains 38 Comprehensive Economic Partnership Agreements, underpinning its integration within global trade networks.
Mr Jafar emphasised the strategic imperative of continued momentum rather than mere maintenance of current achievements. He identified artificial intelligence, advanced industries, trade finance and digital infrastructure as focal points for accelerated development, complemented by world-class infrastructure, established financial institutions and sophisticated logistics capabilities.
The Special Envoy underscored the nation’s most distinctive competitive advantage: the capacity to attract, connect and retain global talent, capital and intellectual property. With more than 200 nationalities contributing to the UAE’s dynamic economy, the nation presents a compelling investment proposition centred upon innovation, opportunity and sustainable long-term expansion.
Professor El-Erian’s observations complemented this assessment, acknowledging the UAE’s successful navigation of recent economic turbulence. He identified three critical attributes determining success in an environment shaped simultaneously by geoeconomic pressures and transformative technological innovation: resilience, optionality and agility.
The UAE, he observed, has demonstrated all three qualities—absorbing economic shocks whilst maintaining forward momentum, embracing diverse expertise regardless of origin, and adapting with notable speed to rapidly shifting circumstances. These capabilities, he concluded, would prove essential for sustaining the nation’s economic trajectory and capturing emerging opportunities within a transforming global landscape.
The MoFA Dialogues: Voices of Influence initiative represents a systematic platform for substantive exchange amongst global leaders and influencers spanning diverse domains. Organised jointly by the Strategic Communication Department and the Office of the Special Envoy of the Minister of Foreign Affairs for Business and Philanthropy, these sessions address topics encompassing foreign policy, investment strategy, economic leadership, advanced technology and artificial intelligence.
Source: WAM