{"id":212062,"date":"2019-04-08T19:33:00","date_gmt":"2019-04-08T22:33:00","guid":{"rendered":"https:\/\/anba.com.br\/?p=212062"},"modified":"2019-06-30T12:36:54","modified_gmt":"2019-06-30T15:36:54","slug":"companies-must-pressure-governments-against-protectionism","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/companies-must-pressure-governments-against-protectionism\/","title":{"rendered":"Companies must pressure governments against protectionism"},"content":{"rendered":"

Dubai \u2013 Speakers in a panel this Monday (8) at the Annual Investment Meeting (AIM<\/a>), a conference on foreign direct investment in Dubai, the UAE, discussed ways to avert growing economic protectionism around the world.<\/p>\n

The panel \u201cCountering the Global Rise of Protectionism Policies for Sustainable Growth\u201d featured the likes of Amal El Malla (pictured above<\/em>), chief of the Arab States Office of the International Trade Center (ITC<\/a>).\u00a0In an interview with ANBA, she explained that businesses themselves must work their way back from government protectionism by seeking out different markets and FDI flows. \u201cThis could sound too optimistic, I\u2019d like to say that if companies know what they want, they do their homework, they do their feasibility studies as investors, traders and exporters. So, it\u2019s about survivalist theory. In order to survive you need to compete. And in order to survive this FDI-packed market you must stay relevant, and being relevant means being competitive,\u201d she said.<\/p>\n

She notes that although governments tend to embrace protectionism, they need to adapt to the globalization process, albeit gradually. \u201cSome companies and organizations will transfer knowledge to countries so they may engage in good practices, but governments fail to adopt these practices. And this (knowledge transfer) must be a bottom-up approach,\u201d Malla said of the strategy that looks to encourage innovation and intellectual capital going from individual to company and from there to government.<\/p>\n

Malla sees Brazil as a major emerging economy and believes economies of this kind will naturally tend to become more and more open. \u201cBrazil must also consider joining this new age of development, which I view as natural and organic, of local and global economy,\u201d she said.<\/p>\n

\"\"<\/a>
The panel featured Amal El Malla, (3rd from L), Fatima Al Arabi (3rd from R), and Yonov Frederick Agah (2nd from R)<\/figcaption><\/figure>\n

Also at the debate, ALAF Capital AS founder and CEO Fatima Al Arabi believes protectionism is not the answer. \u201cActually, you try to fix a mistake making another one. And for me, a mistake is grappling with theories while everybody is defending globalization, and ignoring large economies,\u201d she argued, mentioning important companies from developed countries such as Facebook, Amazon and Netflix that are competing in several countries.<\/p>\n

\u201cWe all agree that trade is important. What we disagree on is its benefits. How to share them? Tensions between countries exist because their governments don\u2019t try to make sure that this activity benefits will be distributed to every sector of the society. Some people receive nothing. We think politicians have answers to problems, but some of them are the problem,\u201d said Yonov Frederic Agah, deputy director-general of the World Trade Organization (WTO<\/a>), also at the panel.<\/p>\n

Agah says it is necessary to know what the costs of the non-distribution of benefits are, which results in loss of competitiveness. \u201cWe must look from two perspectives: what do governments have to do? And, as market players, you must force governments to have discussions on this. Think that theses issues affect your lives, not only trade policies,\u201d concluded Agah to the audience of investors.<\/p>\n

Translated by Guilherme Miranda & Gabriel Pomerancblum<\/strong><\/p>\n

Press Release<\/div>\n
Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"

Panelists at the Annual Investment Meeting, in Dubai, denounced protectionist practices and said businesses need to invest in competitiveness.<\/p>\n","protected":false},"author":2324,"featured_media":212051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[1808,343,139,26555,3901,8101],"class_list":{"0":"post-212062","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-aim","9":"tag-annual-investment-meeting","10":"tag-dubai","11":"tag-dubai-en-2","12":"tag-fdi","13":"tag-proteccionism"},"wps_subtitle":"Panelists at the Annual Investment Meeting, in Dubai, denounced protectionist practices and said businesses need to invest in competitiveness. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/212062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2324"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=212062"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/212062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/212051"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=212062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=212062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=212062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}