The UAE reaffirmed its position as a global leader in trade innovation during a panel discussion at the World Economic Forum (WEF) annual meeting in Davos.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, outlined the UAE’s vision to reshape global trade through cutting-edge technologies under the theme “Hacking Trade and Investment.”
Al Zeyoudi unveiled the latest TradeTech Report, a cornerstone of the UAE’s TradeTech initiative, developed in collaboration with WEF and the Abu Dhabi Department of Economic Development (ADDED). The report emphasizes the transformative impact of technologies like artificial intelligence (AI), robotics, and blockchain in enhancing trade efficiency, sustainability, and inclusivity.
“Trade is a powerful driver of economic growth and prosperity,”
Al Zeyoudi stated.
“With technologies like AI and blockchain, we can revolutionize supply chains, reduce barriers, and bring transparency to global trade. The UAE is committed to leading these advancements and building a smarter, more resilient trading ecosystem.”
Findings from the TradeTech Report suggest that AI adoption could boost global trade by 13.6% by 2040. However, Al Zeyoudi cautioned against “AI divergence” and stressed the need for interoperability, trust-building, and investment in digital infrastructure to ensure equitable benefits.
Al Zeyoudi also highlighted progress in the TradeTech Initiative, which launched in 2023. Programs like the TradeTech Accelerator, with 15 startups onboarded, and the TradeTech Sandbox, offering real-world testing for emerging technologies, underscore the UAE’s commitment to innovation. Insights from these programs will be shared at the second TradeTech Forum in Abu Dhabi in April 2025.
The UAE’s leadership at Davos reinforces its dedication to fostering global trade partnerships and leveraging technology to unlock sustainable economic growth and shared prosperity.
News Source: Emirates News Agency
