UAE Ministry of Economy and UN-ESCWA launch training workshop on bilateral investment agreements

High level representatives from both parties will be attending the five day event, which is being held at the Crown Plaza Hotel in Abu Dhabi from November 25 - 29, 2007.

A panel of five expert lecturers from UN-ESCWA will be tackling a number of pertinent topics aimed at boosting the UAE's investment climate, including defining the current conditions for direct foreign investment; understanding concepts in the area of international agreements; highlighting the legal system of direct foreign investment; understanding concepts in the area of international agreements on foreign investment; and dispute resolutions and investment agreements.

"The UAE Ministry of Economy is taking many steps to make our country a more attractive destination for investors, and to this effect we have also recently begun the process of accelerating investment and regulation reforms. As such, this workshop is being held at an opportune time, and it complements the UAE Government Strategy to take the Arab World's second largest economy to its next level of excellence," said H.E. Khalid Ghanim Al Ghaith, Assistant Under Secretary for Economic Affairs & International Cooperation - Economic Sector, UAE Ministry of Economy.

UN-ESCWA representative added, "Enhancing capacities to enable nations to trade more efficiently is the main focus of much of our work, especially in this region where trade facilitation and economic integration is vital. During the workshop with the Ministry of Economy, it is our priority to shed light on the comprehensive aspects of bilateral investments so as to promote further economic and social development in the Western Asia region."

UN-ESCWA is a part of the Secretariat of the UN and is one of the five regional commissions that report to the Economic and Social Council - the principal organ of the UN responsible for coordinating economic and social activities in the UN system.

The Commission formulates and promotes development assistance activities and projects commensurate with the needs and priorities of the region and acts as an executing agency for relevant operational projects. UN-ESCWA coordinates its activities with those of the major departments of the UN and other specialized agencies such as the League of Arab States, the Gulf Cooperation Council and the Organization of the Islamic Conference, with a view to avoid duplication and ensure synergy and exchange of information.