UAE Launches Global Trade Technology Accelerator
The Government of the United Arab Emirates, in collaboration with the World Economic Forum, has launched the Global Trade Technology Accelerator today during the Global Future Councils meetings held in Dubai from October 15 to 17, with the participation of 500 officials and experts from 80 countries.
Supporting Startups
The government has invited startups specializing in modern trade technology to join the accelerator, which aims to support and develop these companies and transform their innovations into profitable businesses.
This effort contributes to shaping the next generation of global trade exchanges, aligning with the knowledge- and innovation-based economy of the future, and helps stimulate international trade growth while increasing the efficiency and resilience of global supply chains.
The launch of the accelerator is part of the UAE government’s efforts, represented by the Ministry of Economy and the Department of Economic Development in Abu Dhabi, to stimulate global trade as a means of achieving comprehensive development.
Earlier this year, the UAE hosted the 13th Ministerial Conference of the World Trade Organization, where the “Abu Dhabi Declaration” was agreed upon to facilitate trade flows between member countries.
Global Initiative
The Global Trade Technology Accelerator is one of the key tools of the “Global Trade Technology” initiative launched by the UAE in January 2023.
The initiative aims to integrate advanced technology and artificial intelligence into global supply chains and create the next generation of trade exchanges.
Officials’ Statements
Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, stated that the launch of the accelerator reflects the UAE’s commitment to stimulating the growth of international trade, emphasizing the importance of utilizing advanced technology to enhance the efficiency of the global trade system and ensure its effectiveness in achieving comprehensive development.
Ahmed Jasim Al Zaabi, Chairman of the Department of Economic Development in Abu Dhabi, noted that the launch of the program aligns with the strategic goals of the UAE, praising efforts to empower startups in developing innovative solutions that enhance global trade efficiency.
Innovation and Partnership
Tim Stekkinger, Head of the Global Trade Technology Initiative at the World Economic Forum, stated that startups are leading a new era of trade innovation and highlighted the importance of collaboration with regulatory bodies.
Saeed Amidi, Founder and CEO of Plug and Play, expressed his enthusiasm for the program’s launch, stating his confidence in its vital role in supporting the growth of innovative startups.
Objectives of the Accelerator
The Global Trade Technology Accelerator aims to support startups in this field by providing funding and resources, enhancing their contributions to stimulating global trade growth.
The accelerator will benefit from the expertise of Plug and Play, a key partner in the program, to foster innovation through consulting and guidance.
Global Future Councils Meetings
This year’s Global Future Councils meetings are notable for the presence of 70 top CEOs who shared their insights on the future of various sectors and ways to achieve sustainable development.