Page 157 - MOE ENGLISH PR REPORT - OCTOBER 2024

11/1/24, 11:49 AM UAE leads Global Trade Regulators Roundtable as part of TradeTech Initiative
Tim Stekkinger, Head of the TradeTech Initiative at the World Economic Forum,

emphasized the importance of adaptable regulations in supporting technological

advancements stating, "The best regulation is like good technology - it solves real

problems, adapts to new challenges, and becomes invisible in its efficiency."

With its forward-looking TradeTech policies, the UAE is aiming to establish a

global standard by fostering regulatory collaboration and sharing best practices that

will enhance trade resilience worldwide. This initiative builds on the UAE's recent

efforts, including the release of its "Global Risks to Trade" report and the launch of

the TradeTech Accelerator, which aims to support innovative start-ups working on

developing cutting-edge technologies that will modernise trade practices and

increase efficiency across supply chains.

The TradeTech Initiative reflects the UAE's leadership in developing a future-ready

trade ecosystem that aligns with its goal of developing a sustainable and

knowledge-based economy. Through TradeTech the UAE and its partners aim to

harness advanced technology to create a dynamic, secure, and globally integrated

system that benefits all nations. According to projections, TradeTech promises

substantial economic impacts with estimates suggesting a potential US$9 trillion

boost for global economies.

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