UAE Allocates $5M to WTO for Women Exporters Fund

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Chair of the 13th WTO Ministerial Conference 2024, made an announcement today regarding the United Arab Emirates’ commitment to supporting female entrepreneurs in developing countries. He stated that the UAE has allocated $5 million towards a $50 million fund launched prior to the conference with the aim of assisting these entrepreneurs in leveraging the opportunities presented by the digital economy for exporting.

“The establishment of the WTO’s Women Exporters In Digital Economy Fund is a means for us to honor the significant contributions made by women entrepreneurs and businesses globally, recognizing their pivotal role in fostering economic growth,” remarked the minister.

In anticipation of the 13th ministerial conference of the WTO, set to commence tomorrow in the UAE, Director-General Ngozi Okonjo-Iweala unveiled a pioneering $50 million initiative aimed at empowering female entrepreneurs in developing nations. The objective of this new fund is to harness the potential of the digital economy, providing support to women exporters in overcoming financial obstacles and seizing unexplored opportunities.

“This initiative symbolizes our collective dedication to empowering women,” declared Okonjo-Iweala. “It represents a critical stride towards addressing the financial challenges faced by women entrepreneurs, who serve as fundamental drivers of economic progress and advancement.”

It’s noteworthy that H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, announced yesterday the UAE’s commitment to providing a US$10 million grant to support several key initiatives of the World Trade Organization (WTO) during its 13th Ministerial Conference, hosted and chaired by the UAE in Abu Dhabi from February 26th to 29th.

Sheikh Abdullah highlighted that the grant from the UAE will be directed towards the Fisheries Funding Mechanism, the Enhanced Integrated Framework (EIF), and the Women Exporters in the Digital Economy (WEIDE) Fund, all of which will be launched during MC13.

Expressing pride in the UAE’s hosting of the WTO’s MC13, the organization’s principal decision-making body, Sheikh Abdullah bin Zayed welcomed leaders, ministers, and representatives from the 166 Member States to Abu Dhabi for pivotal negotiations on key trade matters and discussions aimed at enhancing and modernizing the global trading system.