Hangzhou: The Arab Federation for Digital Economy is actively participating in the fourth Global Digital Trade Expo held in Hangzhou, China, which is set to continue until September 29th. The expo has attracted over 1,800 exhibitors from 154 countries, including more than 70 Fortune 500 companies.
According to Emirates News Agency, the event spans 150,000 square meters and has drawn over 42,000 digital trade specialists, with 11,000 of these participants coming from overseas. The expo serves as a significant global platform for digital cooperation, where projects worth 64.87 billion yuan ($9.1 billion) were signed on its opening day. This underscores the growing influence of digital trade on the global economy. The exhibits cover areas such as cross-border trade, AI, smart logistics, e-commerce, and digital innovations in health, agriculture, and smart cities.
Dr. Ali Mohammed Al Khouri, Advisor to the Council of Arab Economic Unity and Chairman of the Arab Federation for Digital Economy, addressed the gathering, emphasizing that the federation’s participation aligns with its efforts to promote the Arab Vision for Digital Economy. This vision, adopted at the 2022 Arab Summit under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, aims to build a globally competitive Arab digital economy through unified infrastructure, harmonized legislation, and accelerated innovation. The UAE’s expertise and resources play a crucial role in supporting this vision.
The federation highlighted that the digital economy now constitutes approximately 15 percent of global GDP, valued at over $16 trillion, with e-commerce transactions between companies exceeding $30 trillion. It is forecasted that cross-border digital trade will surpass $8 trillion by 2030. The Arab region, with a population exceeding half a billion and more than 70 percent internet penetration (95 percent in GCC states), has the potential to contribute nearly $1 trillion to GDP by 2030, create millions of jobs, and enhance global competitiveness.
Key initiatives under the Arab Vision were also showcased, such as the ‘Maharat’ platform designed to develop advanced digital skills, and the Arab Food Platform, the first regional e-market for food and agriculture, accredited by the Economic and Social Council of the Arab League.
Dr. Khouri underscored the significance of Arab-Chinese cooperation in digital trade, noting the establishment of a Federation office in Hong Kong and plans for additional offices in China to foster joint innovation platforms. He highlighted regional projects like Masdar City in Abu Dhabi, Saudi Arabia’s NEOM, and Dubai’s Mohammed bin Rashid Solar Park as examples of regional innovation that could benefit from China’s expertise in green infrastructure and artificial intelligence.
Dr. Khouri concluded by stating that the federation’s involvement in Hangzhou is an open invitation to global partners, stressing the need for effective digital platforms, modern legal frameworks, and long-term cooperation. The Arab Federation for Digital Economy aims to position itself at the forefront of these global efforts.