UAE in Top 10 of Global Soft Power Index
In its fourth year, Brand Finance has released its Global Soft Power Index where the UAE has climbed five places to be in the top ten. Brand Finance has now completed the fourth year of research, based on a global sample of over 100,000 respondents. The new report, ranking 121 nation brands from around the world, was released on 2nd March 2023 at its Global Soft Power Summit.
His Excellency Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, highlighted the UAE’s leading role in facilitating global trade and advocating multilateralism in a post-Covid world. Al Zeyoudi confirmed that these two main factors among others, contributed to the UAE’s leading position as a key player in international trade.
He added that the increasing influence of the country in the world, comes as a consequence of the swift rebound of the travel and tourism sector, and its ongoing efforts to support energy transition across the developing world.
During a session at the recent Summit, His Excellency underlined that the UAE’s positive reputation over the last 50 years is a clear reflection of its ambitious and outward-looking development, engagement with the world through trade and investment and its leading position as a preferred destination for talents, businesses, institutions and companies around the world. Al Zeyoudi affirmed that the UAE is a global gateway that believes in collaboration, cooperation and knowledge exchange as the main factors for economic and social growth.
H.E. Dr Thani added: “Trade has had an indelible impact on our soft power. Located at a strategic global crossroads, the UAE is one of the world’s most connected countries and act as a vital bridge for many nation’s products on key East-West, North-South trade routes. This role is reflected in the value of re-exports, which hit a record US$167 billion in 2022. Importantly, we continue to advocate for open, rules-based trade as a means of catalyzing inclusive, broad-based growth, especially in developing countries.”
Every year, Brand Finance values 5,000 of the world’s biggest corporate brands as well as monitored the strength and value of nation brands, and since 2020 publishes the world’s most comprehensive research study on perceptions of nation brands. .
“Whether through our Comprehensive Economic Partnership Agreements, our new Trade Tech Initiative launched in partnership with the World Economic Forum, or by hosting the World Trade Organisation’s MC13 in February next year, we are now an active player in the development of a modern, digitally enabled trading system that can secure supply chains and stimulate the flow of goods and services around the world,” he said.
His Excellency also underlined how the UAE’s energy transition agenda reflects the countries commitment in developing pioneering solutions in solar power and carbon capture, in addition to helping other countries in terms of adopting sustainable and renewable energy.
Al Zeyoudi noted that the country is supporting renewable energy projects around the world, investing US$50 billion in 70 nations across six continents – from onshore wind farms in Egypt to floating solar plants in Indonesia. He concluded: “As the host of COP28 in November 2023, the UAE now has the platform and the credibility to lead this essential mission at a global level”.