The UAE organizes the first meeting of the Trade Technology Advisory Committee in Davos

The UAE, in cooperation with the World Economic Forum, organized the first meeting of the Trade Technology Advisory Committee, which includes a high-level group of experts in trade, technology, finance and logistics.

The committee is strategically supervising the “Trade Technology” initiative, which was launched by the Ministry of Economy, the Department of Economic Development – Abu Dhabi, and the World Economic Forum, with the aim of accelerating the adoption of advanced technology in global trade systems.

The Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, chaired the committee meeting, which was held on the sidelines of the annual meetings of the World Economic Forum 2025, held in Davos, Switzerland, from January 20 to 24.

Identify the most prominent opportunities

The meeting sought to determine a strategic direction and framework for the Trade Technology Initiative, which will last three years, as it brought together global trade ministers, entrepreneurs and CEOs from the world’s leading technology and logistics companies and banking institutions to align views and identify the most prominent opportunities across various sectors within the scope of the digitization of global trade.

The meeting discussed the priorities of the Trade Technology Initiative for the coming year, and the committee explored emerging technologies that promise to bring the greatest benefits to global trade and ways to harmonize regulatory frameworks to enable their full adoption, in addition to trade tariffs and investment barriers, the role of public-private partnerships and the vitality of protecting the integration of emerging economies that are developing trade systems. .

The meeting concluded with an overview of how and where to integrate the visions in the future.

At the beginning of the meeting, Thani Al Zeyoudi said: “The Trade Technology Advisory Committee is an important enabler of the UAE’s vision to contribute to reshaping a modern global trading system that embraces technology and is compatible with the requirements of international trade in the twenty-first century.”

Important opportunity

He added: “By exchanging visions and ideas between governments, business communities, global trade leaders, concerned parties and international trade bodies, the committee will have an important opportunity to accelerate the integration of blockchain applications, artificial intelligence and other advanced technologies into global supply chains, enhance their flexibility and speed, and ensure that they remain a catalyst for achieving sustainable growth.” In the long term.

Al-Zeyoudi stressed that adopting the integration of advanced technology into global trade will contribute to a real transformation in trade flows around the world, and this will only happen with the concerted efforts of partners across borders, and from here stems the importance of the Trade Technology Advisory Committee, as it has the ability to be a global engine for transformation and achieving impact. A lasting positive in this vital sector.

The three-year Trade Technology Initiative consists of several pillars, including the annual Trade Technology Report, the second edition of which was launched this week in Davos, the Trade Technology Accelerator, which aims to support startups developing advanced technology solutions for use in the trade sector, and the TradeTech Sandbox. , an experimental testing environment for producing an initial set of regulations for trading technology solutions. Abu Dhabi will host the second edition of the Trade Technology Forum in April 2025.