UAE News Today : Politics

Minister of Economy reveals key pillars to transform the country’s food and agricultural sector into a world power

Abdullah bin Touq Al Marri, Minister of Economyaffirmed the UAE’s commitment to transform its food and agriculture sector to increase its contribution to GDP by $10 billion and create 20,000 jobs over the next five years, revealing the seven key pillars of the strategic direction to achieve this.

Key strategies include localizing innovation, fostering a UAE-first culture and food supply chain, and providing farmers with the support and resources needed to make them a global leader in agri-food innovation and sustainability.

Closing the fifth Forum on food of the future Thursday, Bin Touq lauded the country’s food and beverage sector’s initiatives in developing digital infrastructure skills and capabilities achieved through various programs to reshape the way food is produced, distributed and consumed in the region and globally. Lauded the ability of the UAE Food Platform (launched during the Forum) to enable public-private collaboration on food security and optimize the food and beverage ecosystem with digital infrastructures to drive sector growth and attract investment and business opportunities .

The two-day event, held on September 20 and 21 at the Le Meridian Dubai Hotel, delved into the growing role of the food sector in the UAE’s economy and well-being and the future of the industry. The present to drive the economic development and industrial growth of the UAE is promising and crucial for our future. The United Arab Emirates, today, is considered one of the most important centers of global food logistics. Everyone knows that it is the most accessible port for shipping containers between origin and destination, facilitating the supply and consumption of food. Food is also an important aspect of general commerce. Trade in food products amounted to AED 130 billion in 2022 alone, compared to AED 105 billion in 2021, recording a growth of 24 percent in one year; Food trade accounted for 5.7 percent of the UAE’s non-oil trade.

Bin Touq saying,

“With a growing population and food security taking top priority, the UAE is doing well on this front and was at the top of the global food security index in 2022 compared to other MENA counterparts, but the Food challenges in these uncertain times are real. and present. Fortunately, the resilience and adaptability of our food industry make it adept at addressing this challenge while constantly emphasizing sustainable practices, which will nourish our earth for centuries.

“Today I stand before you to share a vision to propel our beloved country to new heights and ensure food security in the future. We are working on a strategy to transform our Food and Agriculture group into a global power; the essential pillars around this work, which I am about to say represents our commitment to innovation, sustainability and self-sufficiency and food production.”

He noted that the first pillar is to locate the next generation of agricultural disruptors and turn them into global champions by fostering local talents and innovation by identifying and supporting next-generation solutions. Secondly, making the UAE a global regulatory power ensures that our products have higher standards and have international recognition. The third involves promoting a UAE-first culture to foster the entire food value chain by prioritizing domestic production and reducing dependence on imports. Meanwhile, the fourth pillar remains essential as it aims to provide sufficient financing to industry players.

Bin Touq saying,

“Access to finance is the reason why people grow, industries evolve and our strategy will seek to secure financing and support. This brings us to our fifth pillar of fostering innovation with world-class R&D innovation, which is the cornerstone of progress. “We will provide world-class research and development packages to inspire change.”

Additionally, the sixth pillar will focus on enabling players to diversify and access new markets by creating avenues for all agricultural players. Finally, the strategy aims to build the next generation of farmers, who are the future of agriculture and agritech. Bin Touq expressed his commitment to providing farmers with the knowledge, technology and resources they need to succeed through training programs, modernization efforts and support systems to ensure the agricultural workforce is prepared to address challenges. and opportunities that lie ahead.

News source: Emirates News Agency

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