Page 268 - MOE ENGLISH PR REPORT - JANUARY 2024

1/25/24, 5:19 PM UAE launches Global TradeTech Sandbox during World Economic Forum in Davos
Martin Schwab, 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.

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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 can be adopted that

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