The United Arab Emirates and Morocco have joined twelve other small- and medium-sized nations in issuing a Joint Declaration to establish the Future of Investment and Trade (FIT) Partnership. This new international initiative is committed to affirming the principles of open and fair trade, supporting inclusive economic growth, and enhancing foreign direct investment (FDI) flows among its members and globally.
A Strategic Alliance For Open Economies
The FIT Partnership was formed in response to a global landscape where increasing trade restrictions threaten to fragment the world economy, dampen growth, and create inflationary pressures. For its member countries, which rely on open global commerce for their stability and prosperity, the partnership serves as a vital platform to champion a forward-looking trade agenda. The group will work to amplify the collective influence of its members on the global stage, advocating for policies that ensure economic security and create job opportunities for all.
Key Areas of Collaboration
The partnership aims to be an agile and solutions-oriented platform where members can collaborate on a range of contemporary trade and investment topics. Key focus areas will include strengthening the resilience of supply chains, removing non-tariff trade barriers, facilitating cross-border investment, and accelerating the adoption and integration of emerging technologies. These efforts will be rooted in a non-binding and flexible approach, allowing members to advance shared goals effectively.
A Forward-Looking And Inclusive Platform
The founding members of the FIT Partnership are the United Arab Emirates, Morocco, Brunei, Chile, Costa Rica, Iceland, Liechtenstein, New Zealand, Norway, Panama, Rwanda, Singapore, Switzerland, and Uruguay. The initiative is designed to be distinguished by its focus on generating real-world impact through dialogue between public and private stakeholders. As it evolves, the FIT Partnership will invite other countries that share its objectives and principles to join, ensuring the initiative remains inclusive and adaptable to the rapidly changing global economic landscape.
About The FIT Partnership
The Future of Investment and Trade (FIT) Partnership is a new international initiative established by fourteen small- and medium-sized countries. It is a principles-based grouping committed to championing open and fair trade, supporting inclusive growth, enhancing foreign direct investment, and addressing emerging challenges and opportunities in the global economy through a flexible, non-binding, and collaborative approach.
Source: Zawya
