‘Pushing for Enhanced Trade through Technology at MC13’

The TradeTech Forum 2024, organized by the World Economic Forum, is gearing up to bring together key players in global trade to explore the potential of cutting-edge technologies. This groundbreaking event will see the participation of 300 ministers, business leaders, trade experts, and civil society representatives, all aiming to revolutionize global trade through the testing of new technologies and the exploration of innovative policies and business models.

Co-located with the 13th Ministerial Conference (MC13) of the World Trade Organization, the TradeTech Forum is a collaborative effort with the Ministry of Economy of the United Arab Emirates and the Department of Economic Development of Abu Dhabi. Building on the Global Tech Trade initiative, the forum seeks to drive business recovery and revitalize global trade by accelerating the deployment of technology.

Børge Brende, President of the World Economic Forum, underlined the urgent necessity of integrating new technologies into global trade. He emphasized the opportunity presented by MC13 and the TradeTech Forum to build on past efforts in Davos and expedite technology deployment to counteract sluggish trends.

Discussions at the Annual Meeting 2024 in Davos paved the way for strategies to enhance the trading system, with expectations of progress on investment facilitation, e-commerce, sustainable trade, among other key areas at MC13. The TradeTech Forum will host panel discussions and roundtables focusing on how technologies can enhance trade sustainability, inclusivity, and development-oriented objectives.

Furthermore, the forum will spotlight the deployment of technology to streamline trade processes in developing economies and address trade finance gaps. This includes aiding small businesses in navigating regulatory requirements for resilient and transparent supply chains.

The forum aims to complement MC13 negotiations by facilitating the practical acceleration of trade reforms, showcasing how public-private collaboration can enhance global trade facilitation efforts.

A key highlight of the event will be a TradeTech show featuring trading innovators and collaborative coalitions working to scale up new trading technologies globally.

Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and CM13 Chairman, articulated optimism about the positive impact of technology on global supply chains. He stressed the potential for smaller nations and SMEs to participate more equitably in global trading systems through technological advancements.

The program agenda includes panel discussions on bolstering the TradeTech ecosystem, workshops on establishing inclusive, efficient, and sustainable global trade practices, roundtable discussions on trustworthy AI driving commerce transformation, interviews with prominent thinkers, innovators, and builders, and closing remarks from key figures shaping the future of global trade.

Overall, the forum offers a dynamic platform for global trade leaders to collaborate on shaping smarter, cleaner, and more inclusive supply chains through technology. The potential outcomes of these discussions could lead to significant advancements in international policies promoting inclusive and sustainable trade practices through technology.