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UAE kicks off trade platform at Davos: The UAE has inked an agreement with the World Economic Forum (WEF) to launch the Global TradeTech Sandbox — a component of the larger Trade Tech Initiative — in a bid to drive innovation in trade technology, Wam reported on Saturday. The sandbox looks to drive innovation by implementing versatile regulations and establishing best practices while streamlining collaboration between exporters, logistics companies, ports, regulators, and customs officials to enable smoother trade, Wam notes. The agreement signed by the UAE and WEF launches the initial three-year phase of the TradeTech initiative.
About Trade Tech: The partnership between the UAE and WEF looks to leverage digitalization and advanced technologies to facilitate trade in merchandise and services, according to the initiative’s website. Trade Tech has four components: a forum for industry leaders to gather and share best practices, an annual research report, a regulatory sandbox for companies and startups to experiment with innovations, and an incubator for startups in the TradeTech space.
KSA + Oman eye stronger economic and trade ties: The Oman Chamber of Commerce and Industry hosted the Omani-Saudi Business Forum yesterday to boost trade ties and activate agreements and strategic partnerships between the two countries, Oman News Agency reports. The forum also discussed potential investments in special economic and trade zones and hosted B2B meetings between businesses from the two countries to discuss trade and investment partnerships.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Qatar + Czech Republic talk enhancing trade: Qatar’s Emir Tamim bin Hamad Al-Thani met with President of the Czech Republic Petr Pavel to discuss strengthening economic and trade ties between the two countries. (Statement)
