UAE Explores Strengthening Partnership with OECD for Economic Cooperation and Development

The UAE and the OECD are deepening their economic partnership after nearly two decades of collaboration, with plans for a dedicated UAE office at the Paris-based organization and expanded participation in policy development. Economy and Tourism Minister Abdullah bin Touq Al Marri met with OECD Secretary-General Mathias Cormann in Paris to discuss the next phase of cooperation that could reshape how the Gulf nation develops its economic policies.

The meeting took place during Al Marri's visit to Paris for an innovation and advanced technology event hosted by the UAE embassy. Both officials used the opportunity to review progress on ongoing projects and explore new ways to strengthen institutional cooperation.

Al Marri highlighted the UAE's recent legislative push to modernize its business environment. The country has issued or updated more than 35 economic laws, policies, and decisions over the past five years. Ten of these focus specifically on new economy sectors, including comprehensive laws for family businesses, cooperatives, commercial agencies, e-commerce, and intellectual property. The UAE also now allows 100% foreign ownership of companies and business activities.

The discussion centered on the second phase of an economic policy development project launched in July between the Ministry of Economy and Tourism and the OECD. This phase focuses on two main areas: improving governance and institutional integration in the UAE's tourism sector while developing better data systems, and strengthening public-private partnerships.

As part of the partnership focus, the UAE plans to host a version of the OECD's Business Advisory Council forum at Dubai Expo before the end of this year. This initiative aims to give private sector players more input in policy formation, which could help build more open and competitive economies across the region.

The first phase of the project already delivered results. It led to the development and updating of four economic policies covering entrepreneurship, small and medium enterprises, competition, and corporate governance. The project also improved coordination between federal and local levels on economic policies, ensuring national strategies align with global best practices.

During the meeting, Cormann honored Al Marri for his work in strengthening public-private partnerships and supporting ongoing dialogue between both sectors. The OECD views this collaboration as a key tool for driving sustainable economic development.

For investors and businesses, this partnership signals the UAE's commitment to adopting international standards in economic governance. The potential establishment of a dedicated UAE office at the OECD would provide direct access to policy guidance and best practices, potentially making the country more attractive for international investment and business operations.