Latest news with #TradeTechAccelerator
Time of India
28-04-2025
- Business
- Time of India
IMEC not just a trade route, but a bridge between civilizations: Ram Nath Kovind
Former President Ram Nath Kovind has called the India-Middle East-Europe Economic Corridor as a bridge between civilisations . He was speaking at the SCM Middle East Conclave & Awards 2025 which concluded in Dubai. 'The India-Middle East-Europe Economic Corridor is more than a trade route —it is a bridge between civilisations, a promise of mutual prosperity , and a step toward shared futures,' Kovind said. 'As the world becomes increasingly interconnected, partnerships like these not only foster economic growth but also unite us in purpose and progress. India, once seen as a developing nation, now stands tall as a global growth engine—leading in technology, diplomacy, and innovation. Let us shape our destinies together, driven by the spirit of Vasudhaiva Kutumbakam—the world is one family,' he added. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, UAE , highlighted the UAE's commitment to technology-driven trade ecosystems, stating: 'The UAE stands at the nexus of a global economic transformation , where technology, innovation, and strategic partnerships are redefining the future of trade. Our non-oil foreign trade of $815 billion in 2024 reflects not just economic resilience , but our commitment to tech-enabled, inclusive growth. 'Through the Trade Tech Accelerator, CEPA, and the India-Middle East-Europe Corridor, we are building faster, greener, and more agile supply chains. Our vision is powered by AI, blockchain, and automation to enhance transparency, efficiency, and sustainability across trade routes,' he added. IMEC seen as strategic alternative Meenakshi Lekhi, Former Minister of State for External Affairs, Government of India, remarked, 'There are two forces shaping our world today, those working for peace and prosperity, and those driven by conflict and disruption. The IMEC corridor is a testament to the former.' 'It isn't a challenge to existing routes like the Suez Canal, but an essential alternative, like a fire escape that ensures continuity when conventional paths falter. From India to the UAE, Saudi Arabia, and beyond, this multimodal network integrates land, sea, and rail, offering faster, more cost-efficient, and secure connectivity. The corridor exemplifies strategic cooperation and resilience, highlighting that economic prosperity is inseparable from regional security.' The SCM Awards recognised organisations and individuals for contributions to innovation and leadership in supply chain management . Kamal Narayan Omer and Amit Shankhdhar, co-founders and directors of Logistics Shakti, emphasised the conclave's role in promoting collaboration and resilience within the global trade ecosystem.
Economic Times
26-04-2025
- Business
- Economic Times
Former president Kovind calls IMEC bridge between civilisations
Former president Ram Nath Kovind has called the India Middle East Europe Economic Corridor (IMEC) not just a trade route, but a bridge between civilisations. Addressing the SCM Middle East Conclave and Awards 2025 in Dubai, Kovind said as the world becomes increasingly interconnected, partnerships like these not only foster economic growth but also unite us in purpose and progress. "India, once seen as a developing nation, now stands tall as a global growth engine - leading in technology, diplomacy, and innovation. Let us shape our destinies together, driven by the spirit of Vasudhaiva Kutumbakam - the world is one family," he said. Hosted by Logistics Shakti, the event convened over 400 industry leaders, including top CEOs, CXOs, investors, and policymakers from India, the UAE, and across the IME Corridor. Notably, shipments from India to mainland Europe via the IMEC are projected to arrive nearly 40 per cent faster and at 30 per cent lower cost compared to the traditional Suez Canal maritime route, underscoring the corridor's transformative impact on global trade efficiency. The two-day conclave featured keynote addresses from eminent dignitaries, who shared insights on the challenges and opportunities facing global supply chains, while underscoring the importance of collaboration and innovation in building resilient, sustainable trade ecosystems. Highlighting the UAE's commitment to leveraging technology to drive efficiency and sustainability in global trade, Abdullah Ahmed Al Saleh, under-secretary of the Ministry of Economy, said the UAE stands at the nexus of a global economic transformation, where technology, innovation, and strategic partnerships are redefining the future of trade. "Our record-breaking non-oil foreign trade of USD 815 billion in 2024 reflects not just economic resilience, but our commitment to tech-enabled, inclusive growth. Through the Trade Tech Accelerator, CEPA, and the transformative India-Middle East-Europe Corridor, we are building faster, greener, and more agile supply chains." "Our vision is powered by AI, blockchain, and automation to enhance transparency, efficiency, and sustainability across trade routes. Together with India, we are shaping a smarter, more sustainable trade ecosystem that delivers long-term prosperity for our nations and the region," he said. Meenakshi Lekhi, former minister of state for external affairs, said the IMEC corridor is not a challenge to existing routes like the Suez Canal, but an essential alternative, like a fire escape that ensures continuity when conventional paths falter. "From India to the UAE, Saudi Arabia, and beyond, this multimodal network integrates land, sea, and rail, offering faster, more cost-efficient, and secure connectivity. The corridor exemplifies strategic cooperation and resilience, highlighting that economic prosperity is inseparable from regional security," she said. The SCM Middle East Conclave and Awards 2025 successfully reinforced the region's role as a key global trade hub, setting the stage for enhanced collaboration, innovation, and sustainable growth in the logistics and supply chain sectors.
Hi Dubai
06-02-2025
- Business
- Hi Dubai
UAE Leads Global Trade Transformation Through AI and Innovation
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has highlighted the pivotal role of advanced technologies, particularly artificial intelligence (AI), in revolutionizing global trade. Speaking at the inaugural Plug and Play Middle East Summit, Dr. Al Zeyoudi emphasized the UAE's leadership in adopting cutting-edge solutions to create smarter, faster, and more efficient trade systems. The summit, which brought together industry leaders, government officials, and investors, showcased innovations poised to reshape the global economy. Dr. Al Zeyoudi stressed the importance of empowering startups to unlock value currently hindered by outdated, human-centric processes. 'Trade is undergoing a complete transformation driven by automation and digital innovation,' he stated. 'We must enable entrepreneurs to develop solutions that foster inclusive global trade while establishing the necessary regulatory frameworks.' The UAE's TradeTech Initiative, launched in collaboration with the World Economic Forum, is at the forefront of this transformation. Key components include the TradeTech Accelerator and a Regulatory Sandbox, designed to fast-track innovation. Dr. Al Zeyoudi revealed that the accelerator, developed with Plug and Play, has already identified 14 high-potential startups from 1,500 global applicants. These ventures are pioneering AI-driven logistics, blockchain-powered trade finance, and digital supply-chain optimization, showcasing the UAE's robust innovation ecosystem. The summit also featured fireside chats and panel discussions exploring AI's expanding role in entrepreneurship, fintech trends, and blockchain applications. Participants underscored the transformative potential of AI in augmenting human capabilities and driving industry-wide change. As the UAE continues to champion technological advancement, its efforts are set to unlock new opportunities for global commerce, reinforcing its position as a hub for innovation and trade. News Source: Emirates News Agency
Mid East Info
06-02-2025
- Business
- Mid East Info
HE Dr. Thani champions the role of technology in trade during keynote address at the Plug and Play Middle East Summit
The inaugural Plug and Play Middle East Summit connects entrepreneurs, corporations, and investors in the tech space HE Dr . Thani: 'It is vital we empower entrepreneurs and startups to develop cutting-edge solutions that enable smarter, faster, and more inclusive global trade – while establishing the regulatory frameworks and interoperable systems needed to deploy them .' Dubai, UAE – February, 2025: HE Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has underscored the transformative role of advanced technologies—particularly artificial intelligence (AI)—in driving a new era of smarter, faster, and more efficient global tradeand how the UAE is taking the lead on their implementation. Speaking at the inaugural Plug and Play Middle East Summit, an event that brought together industry pioneers, government officials, and investors to showcase innovations shaping the economy of tomorrow, HE Dr. Al Zeyoudi emphasized the urgent need for the international trading community to harness the power of startups and release the value that is being locked away by outdated systems and human-centric processes. HE Dr. Al Zeyoudi stated: 'The UAE recognizes that trade is undergoing a complete transformation, driven by new technologies, automation, and digital innovation. It is vital we empower entrepreneurs and startups to develop cutting-edge solutions that enable smarter, faster, and more inclusive global trade—while establishing the regulatory frameworks and interoperable systems needed to deploy them. Through the TradeTech Initiative, launched in partnership with the World Economic Forum, we are accelerating these efforts, including the establishment of the TradeTech Accelerator and a Regulatory Sandbox. Their success can unlock new opportunities for commerce across the world..' He continued: 'The TradeTech Accelerator, developed in collaboration with Plug and Play, is already yielding results. From a pool of 1,500 top-tier startups worldwide, we have identified 14 high-potential ventures pioneering AI-driven logistics, blockchain-powered trade finance, and digital supply-chain optimization. Their agility and creativity will not only enhance supply chains but also reaffirm the strength of the UAE's innovation ecosystem.' The summit included a series of fireside chats and panel discussions, bringing together leading figures from technology, investment, and trade to explore AI's evolving role in entrepreneurship. Participants included Fadi Ghandour, Executive Chairman of Wamda Group; Carlos de Torres, Head of EMEA Venture Capital and Private Equity at Google; Joel Podolny, Founder of Honor Education; and Arya Bolurfrushan, CEO of the Bolurfrushan International Group. Discussions covered a wide range of topics, from fintech trends and blockchain to the transformative impact of AI on industries and its role in augmenting human capabilities.
