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DAVOS / WAM
During a panel discussion at the World Economic Forum (WEF) annual meeting in Davos, Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasised the UAE’s leadership in reshaping the future of global trade.
Speaking under the theme “Hacking Trade and Investment”, Al Zeyoudi highlighted ways the UAE is leveraging emerging technologies to make trade smarter, cleaner and more efficient, while also announcing the release of the latest TradeTech Report.
A key pillar of the UAE’s TradeTech initiative, launched in partnership with the World Economic Forum (WEF) and the Abu Dhabi Department of Economic Development (ADDED) to accelerate the adoption of emerging technologies in global trade systems, the second iteration of the TradeTech Report outlines how advanced technologies, particularly artificial intelligence (AI), are transforming global trade by increasing efficiency, promoting sustainability, and creating new opportunities for businesses of all sizes.
During the session, Al Zeyoudi emphasised the UAE’s vision to leverage technology to create a seamless, inclusive, and sustainable global trading system, and highlighted several UAE trade operators who are deploying innovative solutions including AI, robotics and IoT capabilities to address real-world challenges.
He stated, “Trade remains one of the most powerful drivers of economic growth, innovation, and prosperity.”
With the right technologies, like AI and blockchain, we can revolutionise supply chains, reduce barriers to entry, and bring greater transparency and inclusivity to global trade. The UAE is committed to fostering these advancements and leading the way in creating a smarter, more resilient global trading ecosystem.”
Al Zeyoudi concluded that “trade is evolving and nations like the UAE must seize this opportunity to shape a new global trading system. By integrating advanced technologies and fostering partnerships across borders, we can unlock unparalleled opportunities for economic growth, sustainable development, and shared prosperity.”
Al Zeyoudi went on to share findings from the TradeTech Report, revealing that the adoption of AI has the potential to increase trade in goods and services by up to 13.6 percent by 2040. However, he said, the report warns of risks such as “AI divergence,” where uneven adoption could fragment global trade systems. To counter this, Al Zeyoudi called for interoperability, trust-building, and investment in workforce development and digital infrastructure as critical to maximising AI’s benefits.
Al Zeyoudi also provided updates on the TradeTech Initiative’s TradeTech Accelerator and Sandbox programs. According to Al Zeyoudi, the TradeTech Accelerator has now onboarded 15 startups developing solutions such as AI-powered customs automation and blockchain-enabled trade finance platform, while the TradeTech Sandbox, which provides a collaborative space for businesses and regulators to test and refine emerging technologies in real-world conditions, is underway. Insights from the sandbox will be unveiled at the second TradeTech Forum, taking place in Abu Dhabi in April 2025.
The UAE’s TradeTech Initiative, launched in 2023, reflects the country’s commitment to modernising global trade systems and fostering collaboration between governments, businesses, and innovators. By driving the adoption of technologies like AI, blockchain, and IoT, the initiative aims to unlock trillions of dollars in additional global trade value and ensure that the benefits of trade are distributed equally.