Ministry of Economy and Tourism hosts economic retreat to shape new economy pathways and strengthen policy alignment amid rapid global shifts

H.E. Bin Touq holds a series of bilateral meetings with the premier of Bermuda, the ministers of economy of Lebanon and Tajikistan, and the Secretary-General of OECD

Under the patronage of His Excellency Abdulla bin Touq Al Marri, Minister of Economy and Tourism, the Ministry organised an economic retreat with the participation of ministers, senior officials, experts, representatives of international economic organisations, and members of academia. The retreat, which was held on the sidelines of World Governments Summit 2026, aimed to deepen strategic dialogue on the transformations witnessed by the global economy, develop shared pathways for the new economy, and establish mechanisms to support the competitiveness of economies and the sustainability of their future growth.

The event was attended by His Excellency Amer Al-Bisat, Lebanese Minister of Economy and Trade; Her Excellency Laura Lahoud, Minister of Tourism of Lebanon; His Excellency Amos Lugolobi, Minister of State for Finance and Planning of the Republic of Uganda; The Honourable Jason Hayward, Minister of Economy and Labour of Bermuda; His Excellency Vaidmantas Verbickas, Vice-Minister of Foreign Affairs of Lithuania; Mr. Gerald Lawless, Ambassador of the World Travel & Tourism Council (WTTC); Mr. Youngmin Goo, Acting Vice-Minister of the Ministry of Intellectual Property, Republic of Korea; Professor Lee Chi Kin John, President of The Education University of Hong Kong; and Dr. Moawiya Al-Awad, Director of the Institute of Social & Economic Research at Zayed University.

His Excellency Bin Touq affirmed that the UAE, guided by the principles of economic openness and partnership, is contributing to shaping the new growth pathways emerging worldwide, driven by major geopolitical and economic transformations. He noted that the UAE is committed to building shared visions with international partners for the future of the global economy, in line with the objectives of “We the UAE 2031”, which aim to solidify the country’s position as a global hub for the new economy, tourism, and business.

His Excellency added: “Today’s global economic models face numerous challenges, including climate pressure, rapid technological change, and shifts in capital flows. By leveraging the retreat’s platform, we seek to exchange views and deepen dialogue on economic policies and priorities needed to face these challenges, explore trends reshaping the global economy, as well as ways to intelligently leverage the emerging economic multipolarity in the world to enable competitiveness and economic resilience. This enhances the ability to foresee opportunities and formulate a new economic vision that can lead the next phase.”

The retreat reviewed a set of economic indicators reflecting global economic growth and the future pressures it faces. Among these are International Monetary Fund (IMF) projections that global economic growth will reach 3.3 per cent in 2026, while global debt continues to pose a structural constraint on economies, exceeding 235 per cent of global GDP, with rising public debt pressures in several countries.

Participants highlighted the key obstacles hindering progress in the strategies and policies implemented by certain governments and economic institutions today, stressing the need to develop new economic models that align with current realities and future development trends. The retreat also underscored the importance of identifying critical areas and mechanisms for economic development to proactively anticipate opportunities in the emerging economy.

Additionally, participants discussed the importance of drawing on diverse insights and transforming them into a shared intellectual reference that can guide policymaking and shape the economic structure in the upcoming phase. The discussions focused on the need to align national frameworks with global shifts, balancing development requirements, preserving competitive edge, and ensuring long-term economic stability. Emphasis was placed on creating new value in economic sectors that represent key drivers of future growth, particularly the digital economy, artificial intelligence (AI), innovation, sustainability, and tourism.

H.E. Bin Touq holds meetings with ministers and senior officials

On the sidelines of the retreat, H.E. Abdulla bin Touq Al Marri held bilateral meetings with Hon. Edward David Burt, Premier of Bermuda; H.E. Amer Bisat, Lebanon’s Minister of Economy and Trade; H.E. Abdurahmonzoda Abdurahmon Safarali, Minister of Economic Development and Trade of Tajikistan; and H.E. Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD).

During his meeting with the Premier of Bermuda, H.E. Bin Touq discussed ways to further develop bilateral relations between the UAE and Bermuda across various fields, particularly in the economic and investment sectors. Both sides underscored their commitment to strengthening frameworks for cooperation and joint coordination, developing new partnerships that bolster sustainable economic development pathways for both countries.

Furthermore, H.E. Bin Touq met with the Minister of Economy and Trade of Lebanon to explore opportunities to enhance economic and investment cooperation between the two countries. The discussion focused on advancing bilateral economic partnerships, broadening collaboration in sectors of mutual interest, and supporting the business communities in both countries. This will be achieved by exploring new channels for communication and coordination, as well as stimulating mutual investment flows to enhance economic growth in both economies.

During his meeting with the Minister of Economic Development and Trade of Tajikistan, H.E. Abdulla bin Touq affirmed the robustness of economic relations between the UAE and Tajikistan, which continue to witness remarkable advancement across various vital sectors. H.E. Bin Touq also reviewed the key strengths and opportunities offered by the UAE’s business environment, including world-class infrastructure, modern economic legislation, cutting-edge digital ecosystem, integrated free zones, and economic diversification policies, all of which provide competitive advantages for investors and entrepreneurs from around the world.

Finally, H.E.’s meeting with the Secretary-General of OECD discussed the joint projects and initiatives by the Ministry of Economy and Tourism and OECD, including the project to develop and update the UAE’s economic policies. The meeting marked a new step in enhancing collaboration and exploring avenues for advancing economic policymaking in line with global developments.