Page 265 - MOE ENGLISH PR REPORT - JANUARY 2024

1/25/24, 5:18 PM WAM - Emirates News Agency
the WEF Founder and Executive Chairman. The MoU was

signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for

Foreign Trade, Ahmed Al Jasim Al Zaabi, Chairman of the Abu

Dhabi Department of Economic Development, and Sean

Doherty, Head, International Trade and Investment, and

Member of the WEF Executive Committee.

The TradeTech Sandbox aims to spark innovation in trade

technology and establish best practices for its global

adoption. It will achieve this by implementing flexible and

forward-looking regulatory frameworks that unlock the

potential of these technologies. By streamlining the

interaction between exporters, logistics companies, ports,

regulators, and customs officials, it will create a smoother and

more efficient trade environment.

Al Zeyoudi said: “The adoption of advanced technologies is

accelerating in various sectors, and it is important that

international trade keeps pace with these developments now

more than ever. We need to re-evaluate the current regulatory

frameworks in order to keep pace with the digital

transformation and address the future.”

He added: "Global TradeTech Sandbox is designed to keep

pace with technological developments in all fields, to provide

means for start-ups to access markets. It also provides a

platform through which forward-looking regulatory policies

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