Page 338 - MOE ENGLISH PR REPORT - JANUARY 2025

1/24/25, 3:48 PM UAE champions global trade innovation at World Economic Forum in Davos
the adoption of emerging technologies in global trade systems, the second iteration of the TradeTech
Report outlines how advanced technologies, particularly artificial intelligence (AI), are transforming
global trade by increasing efficiency, promoting sustainability, and creating new opportunities for
businesses of all sizes.

During the session, Al Zeyoudi emphasised the UAE's vision to leverage technology to create a

seamless, inclusive, and sustainable global trading system, and highlighted several UAE trade
operators who are deploying innovative solutions including AI, robotics and IoT capabilities to
address real-world challenges.

He stated, "Trade remains one of the most powerful drivers of economic growth, innovation, and
prosperity. With the right technologies, like AI and blockchain, we can revolutionise supply chains,

reduce barriers to entry, and bring greater transparency and inclusivity to global trade. The UAE is
committed to fostering these advancements and leading the way in creating a smarter, more resilient
global trading ecosystem."

Al Zeyoudi concluded that "trade is evolving and nations like the UAE must seize this opportunity
to shape a new global trading system. By integrating advanced technologies and fostering
partnerships across borders, we can unlock unparalleled opportunities for economic growth,

sustainable development, and shared prosperity."

Al Zeyoudi went on to share findings from the TradeTech Report, revealing that the adoption of AI
has the potential to increase trade in goods and services by up to 13.6 percent by 2040. However, he
said, the report warns of risks such as "AI divergence," where uneven adoption could fragment
global trade systems. To counter this, Al Zeyoudi called for interoperability, trust-building, and

investment in workforce development and digital infrastructure as critical to maximising AI's
benefits.

Al Zeyoudi also provided updates on the TradeTech Initiative's TradeTech Accelerator and Sandbox
programs. According to Al Zeyoudi, the TradeTech Accelerator has now onboarded 15 startups
developing solutions such as AI-powered customs automation and blockchain-enabled trade finance

platform, while the TradeTech Sandbox, which provides a collaborative space for businesses and
regulators to test and refine emerging technologies in real-world conditions, is underway. Insights
from the sandbox will be unveiled at the second TradeTech Forum, taking place in Abu Dhabi in
April 2025.

The UAE's TradeTech Initiative, launched in 2023, reflects the country's commitment to

modernising global trade systems and fostering collaboration between governments, businesses, and
innovators. By driving the adoption of technologies like AI, blockchain, and IoT, the initiative aims
to unlock trillions of dollars in additional global trade value and ensure that the benefits of trade are
distributed equally.

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