Sharjah 24 – WAM: Abdullah bin Touq Al Marri, Minister of Economy, has said the speech of President His Highness Sheikh Mohamed bin Zayed Al Nahyan has outlined the strategic direction for the economic development in the UAE by promoting openness to the world and consolidating the principles of cooperation based on respecting common interests, achieving mutual benefit, and enhancing the resilience and sustainability of the national economy, with the participation of the private sector.

In an exclusive interview, Al Marri told the Emirates News Agency (WAM) that foreign trade is a major tributary to the national economy and one of the pillars of its strength and competitiveness, as the UAE has huge maritime, air and land networks linking it with more than 400 major cities around the world.

He added that the UAE is a role model in dealing with the repercussions of the COVID-19 pandemic, as the country has proven a high ability to achieve balanced management between health and economic issues.

The Minister of Economy pointed out that commodity price hikes are a global challenge and that the Ministry has well-studied policies and plans to contain any unjustified increases in the country's markets.