Advances in Trade Technology Highlighted at MC13 by World Economic Forum

The TradeTech Forum 2024, hosted by the World Economic Forum, is expected to bring together a diverse group of stakeholders including ministers, business leaders, trade experts, and civil society members. This groundbreaking event will focus on the innovative use of technology in global trade, with the aim of sparking conversations on how these technologies can transform and enhance the trading system.

Scheduled to coincide with the 13th Ministerial Conference (MC13) of the World Trade Organization, the TradeTech Forum will be a unique platform dedicated to exploring and leveraging technologies for trade. Aligned with the Global Tech Trade initiative of the World Economic Forum, the forum seeks to test new technologies in trade and explore novel policies and business models.

Børge Brende, President of the World Economic Forum, has emphasized the crucial need to embrace and integrate new technologies to rejuvenate global trade. He sees MC13 and the TradeTech Forum as opportunities to expedite technology deployment, driving business recovery and countering the current stagnation in globalization.

Discussions at MC13 are expected to build on those held at the Annual Meeting 2024 in Davos, focusing on strategies to enhance the trading system. Key topics such as investment facilitation, e-commerce, sustainable trade, and more are anticipated to be addressed.

Panel discussions at the TradeTech Forum will explore how technology can promote sustainable, inclusive, and development-oriented trade. These conversations will also touch on how technology can help companies navigate supply chain challenges effectively and address trade finance gaps, particularly in developing economies.

The event aims not only to discuss but also to catalyze practical trade reforms through public-private collaboration. A special showcase will highlight trading innovators and collaborative coalitions working together to expand the use of new trading technologies globally.

Minister of State for Foreign Trade and CM13 Chairman, Thani Ahmed Al Zeyoudi, has expressed optimism about technology’s positive impact on global supply chains. He envisions benefits such as automated customs checks and AI-driven inventory management systems, which can create opportunities for smaller nations and SMEs on a more level playing field.

The program for the TradeTech Forum will focus on boosting the TradeTech ecosystem, promoting inclusive, efficient, and sustainable global trade, harnessing AI for transformative commerce, advocating for international policies that promote sustainable trade through technology, and building coalitions for a global TradeTech revolution.

In conclusion, the TradeTech Forum offers a platform for engaging discussions on harnessing cutting-edge technologies to enhance global trade dynamics, while also promoting inclusivity and sustainability within supply chains.