UAE Minister Dr. Thani Bin Ahmed Al Zeyoudi Discusses Technology's Impact On Global Trade At Summit

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted the significant impact of advanced technologies, especially artificial intelligence (AI), on global trade. Speaking at the first Plug and Play Middle East Summit, he stressed how these innovations are making trade smarter and more efficient. The event gathered industry leaders, government officials, and investors to discuss future economic trends.

Dr. Al Zeyoudi emphasised the importance of embracing new technologies in trade. He stated: "The UAE recognises that trade is undergoing a complete transformation, driven by new technologies, automation, and digital innovation. It is vital we empower entrepreneurs and startups to develop cutting-edge solutions that enable smarter, faster, and more inclusive global trade — while establishing the regulatory frameworks and interoperable systems needed to deploy them."

The TradeTech Initiative, launched with the World Economic Forum, is central to these efforts. It includes the TradeTech Accelerator and a Regulatory Sandbox aimed at fostering innovation in commerce worldwide. Dr. Al Zeyoudi noted that these initiatives could unlock new opportunities globally by modernising outdated systems.

The TradeTech Accelerator has already shown promising results. In collaboration with Plug and Play, it has identified 14 promising startups from 1,500 candidates worldwide. These ventures focus on AI-driven logistics, blockchain-powered trade finance, and digital supply-chain optimisation.

The summit featured discussions on AI’s evolving role in entrepreneurship. Experts from technology, investment, and trade sectors explored topics like fintech trends and blockchain advancements. They also discussed how AI is transforming industries and enhancing human capabilities.

Dr. Al Zeyoudi highlighted the need for international trading communities to leverage startup potential. He pointed out that outdated systems often hinder progress, urging a shift towards more innovative approaches.

He added: "Through the TradeTech Initiative... Their success can unlock new opportunities for commerce across the world." This underscores the UAE’s commitment to leading technological advancements in trade.

The agility and creativity of these startups not only improve supply chains but also strengthen the UAE’s innovation ecosystem. This initiative showcases how technology can drive economic growth by enhancing efficiency in global trade processes.

The summit's panel discussions provided insights into AI’s transformative impact on various sectors. Participants examined how AI can augment human capabilities while reshaping traditional business models.

By focusing on empowering entrepreneurs with cutting-edge solutions, the UAE aims to establish itself as a leader in smart global trade practices. The country is setting up necessary regulatory frameworks to support this technological shift.

This approach reflects a broader vision of integrating advanced technologies into everyday business operations. It highlights the potential for AI to revolutionise traditional methods of conducting international trade.

With inputs from WAM