2024 off to a promising start: UAE’s focus on regional stability and economic development

The UAE has a realistic perspective on the enormous difficulties surrounding the region – one that is opposed to any halting of the wheel of development. It continues to resolve the series of ongoing difficulties and prepares for the future, too.

The year 2024 is off to a promising start for the Emirates, as per The National. Dr Anwar Gargash, diplomatic adviser to the President, has asserted that “I don’t believe national plans should pause, as there will always be major regional issues that will surprise us.”

UAE’s promising CEPA programme in focus

In the early days of the new year, the Gulf state announced a limited cabinet reshuffle in the federal government, in an effort to infuse more expertise and youthful energy into decision making and to reinforce the core pillars of security, prosperity and innovation.

In 2024, diplomacy and economic cooperation are set to define the UAE’s foreign policy. The Emirates has already concluded 10 comprehensive economic partnership agreements, representing the current year as a pivotal milestone in forging global connections.

Signing CEPAs is key to meeting the UAE’s economic goals, as it strengthens ties in order to build on its position as a global trade and logistics hub. This is in pursuit of the Projects of the 50, a series of initiatives driving the country’s next phase of sustainable development.

Benefits of comprehensive economic partnership agreement:

1. Enhanced market access

2. Simpler customs procedures

3. Lower or eliminated tariffs

4. Clear and transparent rules

5. Rules-based competition

Emirates focusing on two critical fronts

The CEPA programme’s impact is already evident. It is expected to boost the country’s exports by 33% and contribute more than $41.7 billion to the national gross domestic product by 2031, according to Thani Al Zeyoudi, the Minister of State for Foreign Trade.

Furthermore, during the latest official trip of HH President Sheikh Mohamed bin Zayed to Baku, the UAE and Azerbaijan signed several key memorandums of cooperation, covering strategic collaboration, investments and financing.

The agreements marked a significant step in bilateral relations between the two countries. The UAE President said the bilateral ties are “progressing in an upward trajectory“, congratulating Baku on being selected to host the upcoming COP29 climate conference.

Through such engagements, the Emirates focuses on two fronts: first, fostering cooperation to address conflicts, crises and unresolved issues to generate just and sustainable solutions and second, enhancing stability through prosperity, participatory and economic diplomacy.

Notable efforts to promote regional stability

The cornerstone of the UAE’s foreign policy is multilateralism, as it believes collaboration is the most effective means of achieving solutions to conflicts and addressing transnational challenges. The nation frequently advocates for regional integration for security.

Being a stable state in a volatile region, the Emirates is committed to maintaining international peace and stability, supporting and pursuing political solutions to enduring conflicts engulfing the region, including those in Sudan, Yemen and Syria.

Raging Israel-Gaza situation: De-escalation and ceasefire

In terms of the Gaza conflict, the UAE has frequently called for de-escalation and a ceasefire, accompanied by pursuing a political horizon leading to a just and comprehensive solution. Its Gallant Knight 3 humanitarian initiative has already delivered tonnes of aid to Gaza.

The Gulf state has been operating desalination plants to help the population in need, in addition to announcing a further shipment of blankets, heaters and gloves. It has also been treating dozens of ill Gazans in Emirati hospitals, as part of a landmark move.

UAE to send the first Arab astronaut to the Moon

In 2024, the UAE announced its participation in NASA’s Lunar Gateway Station alongside the US, the EU, Canada and Japan. It is one of the most important international space projects of the 21st century, allowing the UAE to send the first Arab astronaut to the Moon.

Read More: UAE, Kazakhstan ink MoU for data centre and artificial intelligence projects

This is undoubtedly a unique step towards accessing important and accurate scientific and engineering data, that is expected to be appropriately employed to enhance the country’s knowledge in the field and boost its ability to prepare for the future.