Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, highlighted the critical role of digitization and advanced technologies in achieving sustainability within global supply chains. Citing studies by the World Bank indicating that global trade contributes up to 25% of total carbon emissions, Al Zeyoudi emphasized the urgency of mobilizing global efforts to address climate challenges. The UAE, in collaboration with the Ministry of Economy and the Abu Dhabi Department of Economic Development (ADDED), has launched the “Trade Tech Initiative” in partnership with the World Economic Forum. This initiative aims to accelerate the digitization of international supply chains, enhance customs procedures, improve access for developing countries to the global trading system, and usher in a new era of trade growth.
The Trade Tech Initiative represents a pivotal step in modernizing global trade, leveraging Fourth Industrial Revolution tools to streamline the cumbersome and paper-based processes prevalent in supply chains. Al Zeyoudi emphasized that digitization is no longer a luxury but a key factor in overcoming climate challenges associated with global trade.
Addressing the future of green trade and its impact on global supply chain sustainability, Al Zeyoudi noted that the exchange of environmentally friendly goods and services plays a crucial role in promoting a more sustainable and resilient global economy.
Regarding the role of e-commerce in reducing carbon emissions, Al Zeyoudi highlighted the rapid growth of e-commerce, aligning with the ongoing technological revolution. Studies have indicated that online shopping has a significantly lower carbon footprint compared to traditional shopping, contributing to environmental sustainability.
The Minister discussed the UAE’s role as a global logistics hub, facilitating the movement, flexibility, and efficiency of global supply chains. With its strategic position at the heart of global trade, the UAE serves as a gateway for the flow of goods, commodities, and services between the Middle East, Asia, and Africa.
Al Zeyoudi announced that the UAE’s e-commerce market is expected to reach $9.2 billion by 2026, reflecting the country’s growth in this sector. He highlighted the importance of these changes in discussions about reshaping the future of global trade.
Trade was included in the official agenda of COP28 for the first time in history, and the recently held “Trade Day” aimed to explore ways in which global trade can contribute to reducing carbon emissions. This event precedes the 13th World Trade Organization (WTO) Ministerial Conference in Abu Dhabi, where discussions will focus on the functioning of the multilateral trading system and future WTO work.
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