The UAE has launched a new initiative designed to combine the transformative power of technology with the sustainability and inclusivity of global trade.
The initiative was announced during the TradeTech Forum, which is taking place in parallel to the 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO. It seeks to leverage the rapidly advancing power of artificial intelligence (AI) to reduce the sector’s environmental impact.
The technology could help the industry by optimising shipping routes to reduce fuel consumption and carbon emissions; improving logistics operations such as inventory management and freight movements; developing climate-resilient trade infrastructure and forecasting extreme weather events; and improving traceability and transparency in global supply chains, ensuring visibility into the sustainability of traded goods.
The ‘Trade-Sustain-AI’ initiative will work with international organisations, governments and industry leaders to produce comprehensive reports to explore the convergence of AI, global trade and sustainability; arrange annual symposiums bringing together prominent AI, sustainability and trade experts to exchange ideas, knowledge and experiences; develop a global research network on trade, climate and AI issues; and develop an international alliance between ministers from key global trading hubs that will work with leading CEOs to propose future-proof regulation for the use of AI in trade.
“By embracing technology such as AI, we have the opportunity to redefine the future of trade, making it more efficient, more transparent and more sustainable,” said Dr Thani Al Zeyoudi, Minister of State for Foreign Trade and MC13 Chair.
“It’s essential that the benefits of advanced technology are shared equally – and that means ensuring the tools are not only available but fully accessible for the benefit of all nations.”
The programme has already confirmed several major partners, including ADIA Lab, Core42, Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and Maqta Gateway – AD Ports Group’s digital arm. Additional partners are set to be included in the initiative over time.
In 2023, the UAE’s non-oil trade reached a record high of Dh3.5 trillion ($952.93 billion). The country has also confirmed its plans to launch a trade tech incubator, which will support promising new projects and startups in the space.