World Economic Forum to Host TradeTech Forum 2024 on Cutting-Edge Technologies in Trade
The World Economic Forum is set to host the TradeTech Forum 2024, a groundbreaking event that will delve into the use of cutting-edge technologies in trade. Featuring a range of attendees, including ministers, business leaders, trade experts, and members of civil society, this initiative is part of the broader TradeTech Global endeavor, aimed at transforming global trade through the implementation of new technologies and the exploration of innovative policy and business models.
The urgency of revitalizing trade through the integration of new technologies was emphasized by Børge Brende, President of the World Economic Forum, an organization that has long been at the forefront of supporting trade facilitation worldwide through public-private collaboration.
Scheduled to coincide with the World Trade Organization 13th Ministerial Conference (MC13), the TradeTech Forum 2024 is being organized in partnership with the United Arab Emirates Ministry of Economy and the Abu Dhabi Department of Economic Development. The discussions at this forum will build upon previous efforts with the goal of accelerating technology deployment to drive trade recovery and address the issue of ‘slowbalization.’
The agenda for the TradeTech Forum 2024 will delve into various strategies for making trade more sustainable, inclusive, and development-oriented. This includes exploring ways to support companies in complying with new regulatory and consumer demands for greater supply chain resilience and transparency. Additionally, the forum will focus on deploying technology to facilitate trade processes in developing economies and to bridge trade finance gaps, particularly for small businesses.
In addition to stimulating discussions, the TradeTech Forum 2024 will also host a TradeTech Fair, showcasing innovative trade solutions and collaborative efforts aimed at overcoming barriers to scaling new trade technologies globally.
Thani Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade and Chair of MC13, underlined the potential of technology to enhance global supply chains and create a more equitable and secure trading system, particularly benefiting smaller nations and small and medium-sized enterprises (SMEs). The forum seeks to provide a platform for global trade leaders to share insights, foster collaboration, and shape the future of global trade by moving towards smarter, cleaner, and more inclusive supply chains.
This exciting gathering is poised to pave the way for a new era of trade, where cutting-edge technologies and collaborative efforts bring about unprecedented opportunities for growth and sustainability.
Analyst comment
Positive news. The TradeTech Forum 2024 will accelerate technology deployment to drive trade recovery and address ‘slowbalization.’ It will focus on making trade sustainable, inclusive, and development-oriented, supporting companies in complying with new regulatory demands. This will create opportunities for growth and sustainability in global trade, particularly benefiting smaller nations and SMEs.
