The United Arab Emirates (UAE) has announced the second phase of its TradeTech Initiative, with Artificial Intelligence (AI) as the core focus, during the WTO Public Forum in Geneva.
Abdelsalam Mohamed Al Ali, Minister Plenipotentiary and Director-Representative of the UAE to the World Trade Organisation (WTO), made the announcement during the session titled “TradeTech Interviews: The Thinker, the Innovator, and the Builder.”
Al Ali highlighted AI's transformative potential, stating,
“AI will be our primary focus for this year, offering unmatched potential to streamline logistics, optimise trade finance, and enhance decision-making across supply chains."
He emphasised the UAE's commitment to integrating AI into global trade systems to improve efficiency, predictability, and resilience, benefiting both large corporations and small enterprises globally.
The session, moderated by Rupa Ganguli, Founder and CEO of Inclusive Trade, featured prominent speakers, including Laetitia Cailleteau of Accenture, Vinay Mendoca of HSBC Embedded Finance, and Steven Pope of DHL Group. The panel explored AI's role in improving trade finance and enhancing the participation of Micro, Small, and Medium Enterprises (MSMEs) in global supply chains.
Launched in January 2023 at the World Economic Forum in Davos, the TradeTech Initiative aims to foster the integration of advanced technologies in global supply chains. The second phase will introduce a Regulatory Sandbox for AI in trade finance and an Accelerator to drive technological solutions for trade.
Al Ali described the initiative as a vision for a more efficient, inclusive, and sustainable global trade landscape, positioning the UAE as a leader in innovation and TradeTech.
News Source: Emirates News Agency
