The UAE reveals developments in its pioneering efforts to reshape the future of global trade

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, revealed the latest developments in the UAE’s pioneering efforts to reshape the future of global trade, during a session entitled “Advancing Trade and Investment” held within the annual meetings of the World Economic Forum in Davos, Switzerland.

Al-Zeyoudi announced the launch of the latest Trade Technology Report, which is one of the most important pillars of the Trade Technology Initiative, which was launched by the UAE, represented by the Ministry of Economy and the Department of Economic Development – Abu Dhabi, in partnership with the World Economic Forum. It focuses on how to benefit from advanced technology, especially artificial intelligence, for global trade in Reshaping the future of global trade by increasing efficiency, enhancing sustainability, and generating new opportunities for companies of all sizes.

During the session, Al-Zeyoudi presented the latest developments in the initiative’s Global Trade Technology Accelerator and Trade Policy Center programs.

In his speech, Al-Zeyoudi emphasized the UAE’s vision to benefit from technology to reshape a smooth, comprehensive and sustainable global trading system.

Al-Zeyoudi highlighted the efforts of many major Emirati companies operating in the trade sector that use innovative solutions to facilitate trade flows across the world, including artificial intelligence, robotics, the Internet of Things, and others.

Al-Zeyoudi said that trade remains one of the strongest engines of economic growth, innovation and prosperity, and by using appropriate technology, such as artificial intelligence and blockchain, we can bring about a qualitative change in supply chains, reduce barriers to entry, and achieve higher levels of transparency and inclusiveness in global trade, and the UAE is committed to fostering these. Developments and leading the process of building a smarter and more flexible global trading system.

The Trade Technology Report revealed that adopting artificial intelligence could increase the volume of trade in goods and services by up to 13.6% by 2040.

However, the report warned of risks including “AI disparity,” where uneven adoption of AI could cause fragmentation of global trading systems.

To address this, the report focuses on interoperability, building trust, and investing in workforce development and digital infrastructure as factors necessary to maximize the benefits of AI.

The session provided updates on the Global Trade Technology Accelerator and Trade Policy Center programs, the two main components of the Trade Technology Initiative, and the accelerator integrated 15 startups developing solutions that include customs automation powered by artificial intelligence and trade finance platforms powered by blockchain technology. These innovations aim to address the challenges of the current reality of trade. globalization, and improving its speed, sustainability, and comprehensiveness.

The Trade Policy Experimental Center provides a collaborative space for companies and regulators to test and refine emerging technology in real-world conditions.

The center will reveal its insights during the second session of the Trade Technology Forum, scheduled to be held in Abu Dhabi in April 2025.

The session touched on plans to expand the UAE’s trade relations and link them to high-growth markets around the world, consolidating the UAE’s position as a global platform for trade, innovation and investment.

At the end of his speech, Thani Al Zeyoudi said that the UAE aims to continue leading global efforts to reshape the future of global trade by integrating advanced technology and strengthening cross-border partnerships, with which we can open horizons of unparalleled opportunities for economic growth, sustainable development, and mutual prosperity.