Economist Intelligence Unit holds Annual Middle East and Africa Group Meeting in Dubai for the first time

H.E. Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade, delivered the event's keynote speech, discussing the evolution of business in the Gulf and in the UAE in particular.

She spoke of the UAE's impressive 11% share of total MEA market sales; its inclusion in the World Trade Organization's top 30 globally trading countries; and aggressive economic diversification efforts that have so far boosted non-oil GDP by 21%.

"The UAE has, in the span of less than half a century, achieved phenomenal growth. The country is currently the Middle Eastern region's most globalized and dynamic economy, and exemplifies the Arab spirit of harmonizing progress and loyalty to cultural heritage. We have indeed been able to maintain our unique and rich identity while broadening our partnerships with the regional and international community,"

said H.E. Sheikha Lubna.

The UAE Minister pointed to her country's adoption of a free market system, a modern economy, strong international alliances, and cultural openness as key factors for the Emirates' phenomenal growth.

She also lauded the vision and the accommodating nature of the country's leaders.

"One of the most crucial decisions of our leaders was to encourage the free market concept throughout the country, which has effectively transformed the UAE as a preferred regional and global business destination. Our world-class facilities; low labour and energy costs; advanced infrastructures; 100% foreign ownership, no-tax, and freehold incentives; regulatory systems culled from international best practices; intensified foreign investments; and favourable government policies, all contribute to maintaining our status as a highly desirable business haven," added H.E. Sheikha Lubna.

The Economist Intelligence Unit (EIU) was founded in 1946 to support The Economist, an English-language weekly newspaper focusing on international politics and business news and opinion.

It provides three kinds of business intelligence, namely, country analysis on more than 200 markets, industry trends in eight key sectors, and up-to-date management strategies and best practices.

EIU has evolved into a leading research and advisory firm maintaining 40 offices located throughout the world.

The Unit continues to provide vital business intelligence to key decision-makers, capitalizing on its extensive international reach and independence.