Dr Thani bin Ahmed Al Zeyoudi is UAE Minister of State for Foreign Trade
February 22, 2024
It’s difficult to overstate the importance of trade to the global economy. Simply put, without trade, there is no global economy. The exchange of raw materials, goods, products, ideas and innovations is what enables industries to grow, companies to expand, markets to develop in size and sophistication, and societies to develop. The UAE is a clear case in point: trade has been the principal driver in the economy’s 20-fold expansion in the past 50 years.
Today, a matrix of rules, treaties and regulations govern these exchanges and despite the centrality of trade to collective prosperity they remain mired in analogue processes and legacy systems. For instance, moving a single shipment from Kenya to the Netherlands requires 36 documents.
These cumbersome procedures not only create unnecessary logjams, increasing costs and slowing delivery times, they also limit the accessibility of global supply chains to smaller nations and start-ups. This curtails development and exaggerates economic inequalities.
Firms like Abu Dhabi Ports are leveraging blockchain and big data to process millions of transactions paper-free. Khushnum Bhandari / The National
The UAE, however, has a new vision for global trade. We are championing an era of sustainable, inclusive and efficient supply chains powered by advanced technology, where artificial intelligence enhances stock movements and freight routes, blockchain supports cross-border payments and customs compliance, and data analytics improves risk management.
In Davos last year, the UAE partnered with the World Economic Forum to launch the TradeTech Initiative, a bold, far-reaching programme designed to promote the development and use of trade tech tools around the world. By bringing nations, policymakers, innovators and stakeholders from the logistics and banking communities together, we believe the UAE can help accelerate the delivery of a trade system that works better for every participant, large or small, developed or developing.
Simply introducing e-bills of could save the logistics sector up to $6.5 billion a year
The programme has five initial pillars. First, the Trade Tech report, now published, offers a detailed road map for public-private collaboration to integrate trade tech tools into regional and international supply chains; a regulatory sandbox will co-design, implement and pilot cutting-edge regulatory policies to ensure proper governance and interoperability; a TradeTech incubator will support promising new trade-related tech projects and start-ups; and finally, a TradeTech forum, an annual event, will champion new technologies, advocate for greater momentum and showcase the best new applications.
The first TradeTech Forum will take place in Abu Dhabi on February 27, and will run in parallel to the 13th Ministerial Conference (MC13) of the World Trade Organisation, which the UAE is hosting between February 26-29. This will be a chance to place technology and its transformative power at the heart of discussions on the future of trade.
We already know the potential rewards. Studies suggest that among the G7 countries alone, technology can unlock an additional $7 trillion in trade value. Simply introducing e-bills of lading – digital versions of the document that lists the type, quantity, and destination of goods being carried – could save the logistics sector up to $6.5 billion a year.
The benefits go beyond numbers, though. In emerging economies and least developed countries, where the starting point is lower, the transformative power of trade tech can be limitless.
Entrepreneurs, small businesses, women-led enterprises and young people making their first forays into business face an uphill battle in trading across borders. High costs, complex bureaucracy, onerous paperwork, opaque rules, informational asymmetries, and a lack of access to capital are globally competitive products out of global markets. This stifles growth, drives up prices for consumers and strangles innovation.
The UAE is already leading on this issue. Firms like Abu Dhabi Ports are operating at the frontiers of innovation, with their Advanced Trade & Logistics Platform leveraging blockchain and big data to process millions of transactions entirely paper-free.
Abu Dhabi Customs has introduced an AI-powered smart classification system to enable importers and exporters to instantly ascertain the applicable customs duties, taxes, and restrictions. DP World Trade Finance is a fintech platform that is bridging the $1.7 trillion global trade finance gap by connecting small and medium enterprises to the credit they need.
By taking place alongside MC13, which gathers trade ministers and government officials from 166 member states, the inaugural TradeTech Forum will put these technologies and their applications in the spotlight – and start a vital conversation about supply-chain inclusivity and accessibility.
Though some of the coverage of MC13 has been pessimistic, I am extremely positive that at the conference we can agree on the possibilities of a dynamic, resilient and technologically powered trading system.
Trading across borders has remained largely static for decades, but a new future is possible – with TradeTech at its centre. I am confident the UAE will be leading this vital transformation.
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Indians residing overseas cannot cast their ballot abroad
Non-resident Indians or NRIs can vote only by going to a polling booth in their home constituency
There are about 3.1 million NRIs living overseas
Indians have urged political parties to extend the right to vote to citizens residing overseas
A committee of the Election Commission of India approved of proxy voting for non-resident Indians
Proxy voting means that a person can authorise someone residing in the same polling booth area to cast a vote on his behalf.
This option is currently available for the armed forces, police and government officials posted outside India
A bill was passed in the lower house of India’s parliament or the Lok Sabha to extend proxy voting to non-resident Indians
However, this did not come before the upper house or Rajya Sabha and has lapsed
The issue of NRI voting draws a huge amount of interest in India and overseas
Over the past few months, Indians have received messages on mobile phones and on social media claiming that NRIs can cast their votes online
The Election Commission of India then clarified that NRIs could not vote online
The Election Commission lodged a complaint with the Delhi Police asking it to clamp down on the people spreading misinformation
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place play-off
