World Free Zones Organisation Concludes 10th Annual World Congress In Dubai With Focus On AI And Trade

The World Free Zones Organisation (World FZO) recently wrapped up its 10th Annual World Congress, drawing over 2,000 attendees from 136 nations. This event, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, marked a decade since the organisation's founding in Dubai. The organisation has significantly influenced global standards and sustainable development efforts.

Over the past ten years, World FZO has expanded its membership from 14 original members to a robust network of 1,600 members across 141 countries. This growth is supported by a global network comprising 12 regional offices and 42 national contact points. The congress began with a 'Ministerial Meeting' attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, along with other dignitaries.

The meeting explored the future role of artificial intelligence and emerging technologies in global trade. Discussions centred on five key areas: harnessing opportunities through international cooperation, maximising AI benefits while minimising risks, enhancing trade integration for sustainable development, stimulating investment, and addressing supply chain challenges through free zones.

Dr. Thani Al Zeyoudi stated during the meeting: "We are at the cusp of a new global trade paradigm, marked by both challenges and opportunities as global supply chains undergo transformation alongside the rapid digitalisation of trade. Technology, meanwhile, is transcending boundaries and reshaping global trade, with artificial intelligence (AI) and blockchain improving the resilience of supply chains."

He further emphasised that "The UAE is strategically positioned as a global trade leader," balancing trade and diplomacy while strengthening partnerships through comprehensive economic partnership agreements (CEPAs). Participants acknowledged a new model for global trade driven by supply chain transformations and commerce digitisation.

Global conflicts and protectionist policies pose challenges to trade flows and economic growth. However, technological advancements and sustainable development efforts offer new opportunities for countries and industries. Dr. Mohammed Al Zarooni highlighted the congress's success as a testament to visionary leadership.

Visionary Leadership and Future Trends

Dr. Mohammed Al Zarooni noted: "The success of the 10th edition of the organization's World Congress reaffirmed the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum." He added that this year's edition not only marks a decade since its founding but also looks toward future trends in free zones worldwide.

The congress sessions focused on future prospects for free economic zones and key industries over the next decade. Discussions emphasised inclusive growth at the global level while building partnerships between member states' economic zones. There was also an emphasis on expanding activities to include modern sectors aligned with AI advancements.

Exploring Key Sectors

The agenda included plenary sessions on logistics, energy, finance access, manufacturing, and digital sectors. The 'Future of Logistics' session highlighted UAE's use of automation to boost efficiency across ports and roads while discussing carbon reduction strategies and public-private partnerships for sustainable logistics technologies.

The 'Future of Access to Finance' session examined free zones' evolution in regionalising supply chains and creating jobs. Participants stressed finance access's importance in driving foreign direct investment projects into Asia and Latin America. Meanwhile, discussions on energy focused on free zones connecting global markets.

Manufacturing Sector Insights

The 'Future of Manufacturing' session explored free zones' role in education enhancement and workforce development. It addressed misconceptions about free zones while balancing formal education with vocational training needs. The digital sector session delved into AI's future role in fostering innovation within free zones.

A Memorandum of Understanding (MoU) was signed between World FZO and African Continental Free Trade Area (AfCFTA). This MoU outlines collaboration in policy development, capacity building, information exchange, promoting trade facilitation investments across African free zones.

New Corporate Identity Launch

The congress also unveiled World FZO’s new corporate identity featuring updated vision, mission statements alongside strategic pillars aimed at achieving sustainable development goals globally through impact influence trust initiatives supporting net-zero efforts leveraging learning communication consultation tools driving positive change collaboration within ecosystem free zones worldwide.

With inputs from WAM