Green trade a major driver for promoting sustainable, resilient global economy: Al Zeyoudi

Green trade a major driver for promoting sustainable, resilient global economy: Al Zeyoudi

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that mobilising global efforts to achieve sustainability of supply chains through digitisation and adoption of advanced technologies is no longer a luxury, but a key factor in overcoming climate challenges. Studies by the World Bank indicate that global trade generates up to 25% of total carbon emissions worldwide.

In statements to the Emirates News Agency (WAM), Al Zeyoudi said that the UAE, represented by the Ministry of Economy and the Abu Dhabi Department of Economic Development (ADDED), launched the "Trade Tech Initiative" in partnership with the World Economic Forum.

The initiative is designed to accelerate the digitisation of international supply chains, enhance customs procedures, improve developing countries' access to the global trading system and spur a new era of trade growth.

The Trade Tech Initiative is a crucial step in modernising global trade, using the tools of the Fourth Industrial Revolution to reduce the cumbersome and inefficient paper-based processes that continue to dominate supply chains.

On the future of green trade and its impact on the sustainability of global supply chains, Al Zeyoudi said that green trade, which is characterised by the exchange of environmentally friendly goods and services, is considered