AbuDhabi, United Arab Emirates-April,18,2016: José Luis Rodríguez Zapatero, Former Prime Minister of Spain  gestures during the lecture at the  Emirates Diplomatic Academy  in AbuDhabi.  ( Satish Kumar / The National  ) 
ID No: 79484
Section: News
Reporter : Thamer Subaihi *** Local Caption ***  SK-EDA-18042016-05.jpg
José Luis Rodríguez Zapatero, Former Prime Minister of Spain, gestures during a lecture at the Emirates Diplomatic Academy in Abu Dhabi. Satish Kumar / The National

Wanted: new class of young diplomats to represent UAE on world stage



When a tense political stand-off is sparked, a holidaymaker suffers a tragedy or a crucial alliance must be forged, you need the best people on hand for trouble in a foreign land.

And now the Emirates Diplomatic Academy is looking for the next generation of UAE ambassadors, consuls and officers to serve at home and abroad.

The brightest 50 or so will be chosen and put through rigorous training, language classes and diplomatic scenarios to equip them for the field.

But the path is not an easy one. Recruits need strong written and spoken English and Arabic and are expected to undertake courses in French, Spanish, Chinese, Farsi or Russian.

They also need to deal with the media, show an insight into global affairs and above all, represent their country.

“The key to being a great diplomat in today’s world is being curious” said Tom Fletcher, former UK ambassador to Lebanon and an adviser to the Emirates Diplomatic Academy.

“We need individuals that are interested in world developments, that are able to look at problems from different angles and perspectives.

“Critical thinking is vital; we need those that are able to join the dots in an effective way."

Anyone seeking to serve in the Ministry of Foreign Affairs and International Cooperation must complete the academy's nine-month post-graduate diploma in UAE Diplomacy and International Relations.

Although several classes have graduated since the academy opened in 2014, there is a growing number of positions for young Emiratis in foreign service. Visa free travel and the opening of embassies in South America recently mean more are needed.

“There is always a need to strengthen our diplomatic capabilities to cope with the increased complexity and fast pace of change around the world today," a spokesperson said.

While preparing students to critically appraise and exercise different dimensions of diplomatic practice, the course will also teach students to express themselves in formal and diplomatic Arabic and English with at least a basic understanding of a third language of their choice.

Students are presented with a selection of courses such as preparing for 21st Century Diplomacy, theory and Practice of International Relations and UAE History and Culture. Whilst also undergoing Diplomatic Protocol and Etiquette, Bilateral and Multilateral Negotiations to equip them with the essential skills needed

They must also develop an in-depth knowledge of diplomacy and international relations. That enables graduates to assess and analyse their economic, political, legal, social and geographical aspects particularly in relation to the Middle East region.

Global figures such as former United Nations Security- General Ban Ki-Moon and former Spanish prime minister Jose Luis Rodriguez Zapatero have lectured students on the challenges they will face in the future.

They have shared their career insights with students whilst engaging with them in discussions over diplomatic challenges and opportunities, ranging from climate action to women and youth empowerment. Other speakers and mentors include the first Lebanese person to climb Mount Everest, Maxime Chaya.

“Courage would play a vital role in their future," she told students last year.

The academy aims to “support the objectives of UAE foreign policy by delivering high impact training and disseminating research and thought leadership that furthers the understanding of diplomacy and international relations," the spokesperson said.

Once completed, a foreign posting is an option, but some are appointed to the foreign affairs ministry to serve there. Others could expect to be deployed in major embassies such as Moscow or Washington DC, or to the UN mission in New York, which lasted three months."

Graduates include Sheikh Shakhboot bin Nahyan bin Mubarak Al Nahyan, an ambassador at the Ministry of Foreign Affairs and International Cooperation, and the son of Sheikh Nahyan bin Zayed, the Minister of Culture and Knowledge Development.

Other graduates include Amna Al Suwaidi and Mohamad Rafeea.Obaid Al Zaabi, Sultan Al Hamrani, Mohamad Busamnoh, Amna Al Suwaidi, and Mohamad Rafeea have all participated in the United Nations General Assembly in 2016 in New York

"Emirates Diplomatic Academy aims to prepare Emiratis to serve their nation," a spokesperson said.

"Emirati diplomats have a major role to play as they carry the UAE’s success story around the world. There will continue to be a growing need for highly talented, well-rounded diplomats with multidisciplinary skills to support our nation’s increasing and active roles in the region and globally."

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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