The UAE has launched its newest initiative ‘Trade-Sustain-AI’, which combines the transformative power of technology with the sustainability and inclusivity of global trade. The UAE launched the initiative during the TradeTech Forum 2024 taking place in parallel to the 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) in Abu Dhabi.
Trade-Sustain-AI initiative
‘Trade-Sustain-AI’ aims to harness the transformative potential of artificial intelligence (AI) within supply chains to enhance the role of global trade in combatting climate change. It identifies several areas where AI can immediately contribute to sustainability efforts. This includes optimizing shipping routes to reduce fuel consumption and carbon emissions.
Moreover, it focuses on enhancing logistics operations such as inventory management and freight movements. It also aims to build climate-resilient trade infrastructure and forecast extreme weather events. Furthermore, the initiative seeks to bolster transparency in global supply chains to ensure the sustainability of traded goods.
Key strategies and partnerships
The ‘Trade-Sustain-AI’ initiative will work with international organizations, governments, and industry leaders to produce comprehensive reports to explore the convergence of AI, global trade, and sustainability. It will also arrange annual conferences bringing together prominent AI, sustainability, and trade experts to exchange ideas, knowledge, and experiences.
The ‘Trade-Sustain-AI’ initiative will also develop a global research network on trade, climate, and AI matters. Furthermore, it will develop an international alliance between ministers from key global trading hubs that will work with leading CEOs to propose future-proof regulations for the use of AI in trade.
Notable partners include ADIA Lab, Core42, Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), and Maqta Gateway – AD Ports Group’s digital arm, with additional partners expected to join.
TradeTech advancement
Commenting on the ‘Trade-Sustain-AI’ initiative, Dr. Thani Al Zeyoudi, minister of state for foreign trade and MC13’s chair, emphasized the UAE’s commitment to pioneering TradeTech advancements and facilitating their global deployment. “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,” Al Zeyoudi stated.
Al Zeyoudi also highlighted the need for technological development to align with regulatory frameworks to ensure widespread adoption and accessibility, thus benefiting all nations.
Read: WTO MC13: UAE and Peru to begin free-trade agreement talks
UAE’s pioneering role
With its new ‘Trade-Sustain-AI’ initiative, the UAE has emerged as a leading proponent of technology-driven trade initiatives. In January 2023, in collaboration with the World Economic Forum (WEF), the UAE launched the TradeTech Global Initiative. The initiative aims to promote the adoption of emerging technologies in global supply chains. The TradeTech Forum, a cornerstone of this initiative, underscores the UAE’s commitment to fostering innovation and sustainability in international trade.
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