UAE key player in shaping future of digital trade

The UAE’s Comprehensive Economic Partnership Agreements (CEPAs) with countries worldwide are paving the way for Emirati companies to play a pivotal role in digital trade and shape the future of this sector.

As part of its commitment to a future-ready economy, the UAE has successfully integrated advanced technologies across its key industries, reinforcing its leadership in setting global standards for digital commerce. The country continues to harness emerging technologies to enhance international trade efficiency, including the expansion of artificial intelligence (AI) and blockchain-powered customs clearance.

The UAE’s CEPAs extend beyond conventional trade, incorporating dedicated provisions on services, with a strong emphasis on digital trade.

In statements to the Emirates News Agency (WAM), Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the UAE is among the fastest-growing nations in digital trade. The country’s total digital services exports reached US$47.91 billion in 2023, reflecting a 5% growth compared to 2022. Notably, over 63% of global services exports are now delivered digitally, spanning key sectors such as fintech, insurance, consulting, and software development.

Dr. Al Zeyoudi emphasised that AI is no longer just an enabler but the foundation of next-generation trade systems, revolutionising how goods and services move globally. He drew attention to the fact that nations adopting AI-driven trade policies and digital trade agreements will lead the global economy in the coming decade.

The UAE’s CEPAs provide Emirati businesses with opportunities to innovate, expand, and compete internationally. Each agreement includes a dedicated chapter on intellectual property rights (IPRs), ensuring robust protection for innovators, brands, and content creators entering new markets. This gives UAE businesses of all sizes the confidence to expand globally while safeguarding their intellectual property.

UAE-developed technologies, brands, and creative content are now legally protected in partner countries under these agreements. Patents and trademarks are recognised faster, and Emirati businesses enjoy the same legal protections as local companies, allowing them to license, sell, and scale their innovations with confidence.

WAM