The UAE's Comprehensive Economic Partnership Agreements (CEPAs) are strategically positioning Emirati companies as key players in the rapidly growing digital trade sector.
With a focus on future-proofing its economy, the UAE has integrated advanced technologies such as artificial intelligence (AI) and blockchain into its trade systems, enhancing the efficiency of international commerce.
The country’s commitment to digital trade extends beyond traditional goods exchange, with CEPAs incorporating provisions on services and a strong emphasis on digital trade frameworks. This innovative approach reflects the UAE’s leadership in global digital commerce.
According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE is one of the fastest-growing nations in digital trade. In 2023, the country's digital services exports surged to US$47.91 billion, marking a 5% growth from the previous year. Notably, over 63% of global services exports are now digital, encompassing sectors such as fintech, consulting, software development, and insurance.
Dr. Al Zeyoudi highlighted that AI is no longer just a tool but the cornerstone of modern trade systems, reshaping the movement of goods and services worldwide. As nations adopt AI-driven policies and digital trade agreements, those leading this shift will dominate the global economy in the coming years.
The UAE's CEPAs also offer robust intellectual property protections for Emirati innovators, ensuring that local businesses can expand globally while safeguarding their creations. This includes accelerated recognition of patents and trademarks, granting UAE-developed technologies, brands, and content the same legal protections as those enjoyed by domestic companies in partner nations.
News Source: Emirates News Agency
