Home » World Economic Forum Leads the Charge for Improved Trade through Technology at MC13 – Compsmag

World Economic Forum Leads the Charge for Improved Trade through Technology at MC13 – Compsmag

by Dubaiforum

The World Economic Forum is set to host the TradeTech Forum 2024, a groundbreaking event that will bring together key players in global trade to explore the use of cutting-edge technologies. With the participation of 300 ministers, business leaders, trade experts, and civil society representatives, this forum aims to revolutionize global trade by testing new technologies and exploring policies and business models.

Co-located with the 13th Ministerial Conference (MC13) of the World Trade Organization, the TradeTech Forum is organized in collaboration with the Ministry of Economy of the United Arab Emirates and the Department of Economic Development of Abu Dhabi. It builds on the Global Tech Trade initiative hosted by the World Economic Forum, which seeks to drive a business recovery and revitalize global trade through accelerated technology deployment.

Børge Brende, President of the World Economic Forum, emphasized the urgent need to understand and integrate new technologies into global trade. He highlighted that MC13 and the TradeTech Forum present an opportunity to build on previous work done in Davos and accelerate technology deployment to counteract “slow marking.”

Following discussions at the Annual Meeting 2024 in Davos, where strategies for improving the trading system were considered, participants anticipate results on investment facilitation, e-commerce, sustainable trade, among others at MC13. The panel discussions and roundtables at the TradeTech Forum will focus on how technologies could make trade more sustainable, inclusive, and development-oriented.

Additionally, there will be a focus on deploying technology to facilitate trade processes in developing economies and addressing trade finance gaps. This includes helping small businesses navigate regulatory requirements for supply chain resilience and transparency.

The forum aims to complement MC13 negotiations by supporting practical acceleration of trade reforms. It highlights how public-private collaboration can improve trade facilitation around the world.

A highlight of the event will be a TradeTech show showcasing trading innovators as well as collaborative coalitions working to scale new trading technologies globally.

Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and CM13 Chairman expressed optimism about how technology can positively impact all links in global supply chains. He emphasized that smaller nations and SMEs can participate equitably in global trading systems with technological advancements.

The program focus areas include panel discussions such as boosting the TradeTech ecosystem; workshops like setting up inclusive, efficient, and sustainable global trade; roundtable discussions about trustworthy AI driving commerce transformation; interviews featuring thinkers, innovators, and builders; as well as closing remarks from key figures shaping future global trades.

According to Modern Diplomacy source

This forum presents an exciting opportunity for global trade leaders to share ideas and collectively shape smarter, cleaner,and more inclusive supply chains. The potential impact of these discussions could pave way for significant advancements in international policies promoting inclusive sustainable trades through technology.

Source

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