Page 166 - MOE ENGLISH PR REPORT - OCTOBER 2024

11/1/24, 11:49 AM UAE leads Global Trade Regulators Roundtable as part of TradeTech Initiative | Welcome to Mantra
Tim Stekkinger, Head of the TradeTech Initiative at the World Economic Forum, emphasised 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 USD 9 trillion
boost for global economies. (ANI/WAM)

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