Page 370 - MOE ENGLISH PR REPORT - JANUARY 2024

1/26/24, 2:07 PM UAE (TradeTech) initiative takes centre stage at World Economic Forum
chain resilience and facilitating the participation of new players in the global trading
system.

The statement came during a press conference held at the World Economic Forum (WEF)

today to tackle the digital transformation of global trade.

The meeting in Davos marks the first-year anniversary of the launch of the TradeTech

Global, a joint initiative by the UAE and WEF to accelerate the integration of tools such as

artificial intelligence, machine learning, blockchain and the Internet of Things into supply
chains.

ADVERTISING

The press conference followed the launch of a new report published by the UAE Ministry
of Economy and the World Economic Forum entitled "TradeTech: Catalysing Innovation",

which emphasised how the integration of technology into the global trading system will
add US$9 trillion to the value of trade among the G7 nations – with wider catalytic potential

for developing and least developed countries across the world.

The report offered a detailed roadmap for governments, global trade bodies and the
private sector to collaborate on the development, deployment and regulation of

technologies across supply chains, which will serve to modernise international trade and,
in doing so, expand its reach and accelerate its growth. This includes establishing

https://www.zawya.com/en/economy/gcc/uae-tradetech-initiative-takes-centre-stage-at-world-economic-forum-lqrs0yu0 2/4