• Discussions on the first day of the Global Business Forum ASEAN looked at how Regional Comprehensive Economic Partnership (RCEP) countries are rewiring supply chains.  

Dubai, UAE – Regional Comprehensive Economic Partnership (RCEP) countries are rewiring supply chains and creating new trade opportunities, according to industry experts speaking earlier today at the first-ever Global Business Forum (GBF) ASEAN in Dubai.

Organised by Dubai Chamber in partnership with Expo 2020 Dubai, the two-day forum explores investment prospects emerging across ASEAN markets, new avenues of UAE-ASEAN economic cooperation, as well as trade synergies and bilateral business opportunities.

Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the first day of GBF ASEAN featured a session, which was joined by H.E. Ramon Lopez, Secretary (Minister) of the Department of Trade & Industry of the Republic of the Philippines; Mishal Kanoo, Chairman of The Kanoo Group; and Prof. Romano Prodi, President of the Italy-ASEAN Association.

“The negative impact of COVID-19 on the economic cycle is undeniable,” H.E. Ramon Lopez noted. “However, recent news about the new Omicron variant seem to be less impactful. We are moving forward with reopening the economy and spearheading recovery in the Philippines. The country reopened its borders to tourists on December 1 of this year, and we believe having the Regional Comprehensive Economic Partnership (RCEP) is helping countries adapt to changes and find new avenues for partnership.”

Meanwhile, Prof. Romano Prodi asserted: “Business models must focus on exporting and find the ideal partner to do that. The Regional Comprehensive Economic Partnership (RCEP) emphasizes the possibility of establishing partnerships with non-member countries around the world. The agreement is therefore, in the interest of the entire region and will contribute to stimulating global economic recovery. We must support SMEs because they make up a major pillar of the global economy, but they need to organise themselves in an integrated system and build relationships with suppliers.”

For his part, Mishal Kanoo said: “Facing the implications of the COVID-19 pandemic for the economy was never easy. However, the UAE government presented a uniquely successful approach for dealing with the crisis. Instead of scaring the public, the UAE’s wise leadership decided to give hope to all of us by being among the first countries in the world to reopen, continuing to attract people who travel and participate in an engaging business environment here in Dubai. We believe that the UAE, and Dubai, in particular, has presented itself as a world business hub bringing together businessmen, investors, and decision-makers to brainstorm ideas and discuss all aspects of business.”

GBF ASEAN forms part of Dubai Chamber’s flagship Global Business Forum series, which was launched in 2013 to provide Dubai’s business community access to new growth opportunities in promising markets and position he emirate as a global gateway for ASEAN companies.

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For Editors:

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About Expo 2020 Dubai:

From October 1, 2021 to March 31, 2022, Expo 2020 Dubai welcomes visitors from all over the world, helping to create a new world, while bringing the entire planet together to reshape the future. Under the slogan “Connecting Minds, Creating the Future”, Expo 2020 represents the incubator of the most influential ideas in the world, stimulating the exchange of new visions and inspiring movement towards finding realistic solutions to real world challenges. Expo 2020 Dubai will be the largest cultural gathering in the world, as it will provide amazing and inspiring experiences over a 182 days, and more than 200 entities will contribute to these experiences, including countries, multilateral organisations, companies, and educational institutions, as well as millions of people.  Expo 2020’s subthemes, Opportunity, Mobility and Sustainability, will inspire visitors to conserve and protect our planet, explore new horizons, and create a better future for all. Over a period of six months, Expo 2020 will be an ideal destination for families, filled with thousands of activities and wonderful exploration experiences, and will provide free admission for children under the age of 18. Expo 2020 is committed to build a more equal, just and equitable world for all, while maintaining the safety of visitors, by following the latest guidelines issued by world-leading experts in the fields of medicine, science and health. Expo 2020 Dubai is the first International Expo to be held in the Middle East, Africa and South Asia region, and its location extends over an area of ​​4.38 square kilometres in “Dubai South” near Al Maktoum International Airport. The Expo site represents a practical application of innovation and was built with a vision to being a meaningful and remarkable long-term legacy. After the conclusion of the Expo 2020, it will turn into District 2020, which constitutes a model for a global community that reshapes the features of the cities of the future.

For more information, please contact:

Ruba Abdel Halim

Dubai Chamber of Commerce & Industry
PR &Corporate Communications Department

Tel: +971 4 2028450

Email: ruba.halim@dubaichamber.com