Page 327 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

enhance the potential benefits of artificial intelligence and new technologies, reduce their
risks, better activate the work of trade and artificial intelligence to drive sustainable
development globally, stimulate trade and investment and supply chain challenges through
free zones, and form safer and more flexible supply chains through modern economic

zones.
In his speech during the ministerial forum, His Excellency Dr. Thani Al Zeyoudi, Minister of
State for Foreign Trade, said: “We stand on the threshold of a new phase for the global trade
sector, characterized by many challenges and opportunities, at a time when supply chains
are witnessing a transformation driven by digitalization. Technology currently plays a major
role in transcending borders and reshaping the features of global trade, in light of the
capabilities of artificial intelligence and blockchain technologies to accelerate and
enhance the efficiency of supply chains. Technology emerges as a transformative force
capable of transcending regional borders and creating a global revolution in trade.”

His Excellency Al Zeyoudi added: The UAE enjoys a strategic position to lead global trade,
by adopting a position that balances trade and diplomacy while strengthening its strategic
partnerships through economic cooperation agreements.
Participants in the ministerial forum stressed the emergence of a new model for global
trade, driven by the transformation of global supply chains and the digitization of trade,
noting that global conflicts, crises, trade disruptions and protectionist practices impose
new challenges on trade and economic growth at the international level, noting that rapid
technological development and sustainable development efforts around the world provide

new opportunities for countries and industries. For his part, Dr. Mohammed Al Zarooni,
Chairman of the World Free Zones Organization, said: The 10th session of the World Free
Zones Organization’s Annual International Exhibition and Conference confirmed the
insightful vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President
and Prime Minister of the UAE and Ruler of Dubai, may God protect him, in establishing the
organization 10 years ago, until it has become today a global platform that enhances the
performance of free zones, and their strategic contribution to global economic growth, and
brings together under its umbrella an integrated system that supports a third of global trade
that passes through these zones in various regions and areas.

He added: “This year’s session is not only celebrating a decade since its establishment, but
we are also looking to the future by working to anticipate its trends and keep pace with its
developments, and ways to enhance the contribution of free zones around the world in
various sectors and industries, and in increasing the volume and fluidity of trade and
investment opportunities, so that we can continue to place the free zones sector at the
heart of the comprehensive transformation process towards the economy of the future
based on the new corporate identity of the organization that was launched during the

conference activities and its strategic axes represented by influence, power and trust to

https://pledgetimes.com/world-free-zones-organization-concludes-its-10th-annual-
conference-in-dubai/