Q4 2019

22 MEA MARKETS / Q4 2019 , Historic Abu Dhabi Declaration Marks A New Era For Global Private Sector Alliances UNIDO’s member states agree to call on private sector titans to form coalition to advance inclusive and sustainable industrial development. The United Arab Emirates makes history with the recent announcement of the Abu Dhabi Declaration, a ground-breaking outcome from the 18th Session of the United Nations Industrial Development Organization (UNIDO) General Conference. In an unprecedented move, UNIDO’s Member States, who had gathered in Abu Dhabi for the General Conference, have agreed to join forces in calling on the global private sector to form a coalition to advance Inclusive and Sustainable Industrial Development. This first-of-its-kind agenda will address the pressing need for a global alliance made up of organisations from the private sector to focus on working towards a shared vision for global prosperity. UNIDO Member States has adopted the Abu Dhabi Declaration as part of UNIDO’s mandate to achieve the Sustainable Development Goal 9 which aims to ‘build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation’. The governments of all the member countries will now work in tandem with their private sectors and across borders to enhance public-private partnerships and thereby advance inclusive economic growth and bolster sustainable development. In a video message to the conference, UN Secretary- General Antonio Guterres said: “UNIDO plays an important role in advancing the 2030 Agenda for Sustainable Development. I commend your focus on harnessing the potential of new technologies. Through your partnerships with governments and the private sector, you can help drive job creation, technology transfer, and investments. Your work also helps to combat the climate crisis by facilitating the transition to circular economies, low carbon growth, the greening of infrastructure and the reduction of industrial emissions.” Named after the capital of the United Arab Emirates (UAE), the Abu Dhabi Declaration will set the roadmap to create a global alliance of private sector companies that will work towards a common vision of making industrialisation more inclusive, and sustainable. In calling for heightened collaboration and a shift away from private-sector competition, the landmark declaration aims to encourage the private sector to look beyond financial returns and to adopt a more holistic worldview championing sustainability and global prosperity. The Abu Dhabi Declaration also builds on the UAE’s history of leveraging public-private partnerships as a conduit to building its national economy led by rapid development and industrialisation. It also exemplifies the country’s firm belief in global alliances to meet ambitious multi-region development goals. The UAE has shown a huge commitment to the political, economic and cultural empowerment of women. This commitment is enshrined in institutions such as the UAE