UAE leads global trade regulators roundtable as part of TradeTech Initiative

As part of the joint UAE-World Economic Forum (WEF) TradeTech Initiative, the UAE, represented by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led the inaugural virtual global trade regulators roundtable.

Organised by the UAE Ministry of Economy, the event convened trade regulators from major global economies to explore and discuss regulatory frameworks necessary for overseeing the rapid adoption of advanced technologies in global trade.

Participants from around the world joined the Global Trade Regulators Roundtable led by the UAE.WAM

The roundtable provided an interactive platform for trade officials and regulatory leaders to discuss the evolving role and potential of technology in trade. Key focus areas included regulatory innovations for cross-border digital trade, public-private partnerships to address cybersecurity challenges, and regulatory sandboxes to pilot emerging trade technologies.

Participants examined strategies to overcome barriers to digital trade, balance innovation with consumer protection, and ensure that regulations remain robust and adaptable.

TradeTech Initiative

Launched in partnership with the WEF, the TradeTech Initiative aims to transform international trade through advanced technologies such as artificial intelligence, blockchain, and data analytics.

Key objectives include automating customs procedures, enhancing supply chain transparency, and supporting real-time trade finance solutions.

This initiative builds on the UAE’s recent efforts, including the release of its Global Risks to Trade report and the launch of the TradeTech Accelerator, which aims to support innovative start-ups focused on modernising trade practices and increasing supply chain efficiency.

According to projections, TradeTech promises substantial economic impacts, with estimates suggesting a potential US$9 trillion boost for global economies.