Hangzhou: The fourth Global Digital Trade Expo commenced in Hangzhou, Zhejiang Province, with the United Arab Emirates (UAE) participating as an official Guest of Honour alongside Indonesia. The event, which opened on Thursday, is seen as a significant platform for enhancing global economic cooperation, particularly in the realm of digital trade.
According to Emirates News Agency, the opening ceremony was graced by the presence of prominent figures including Hussain bin Ibrahim Al Hammadi, UAE Ambassador to China; Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism and head of the UAE delegation; and Muhannad Sulaiman Al Naqbi, UAE Consul-General in Shanghai. These officials were joined by senior representatives from government entities and national companies.
In his speech, Al Saleh highlighted the pivotal role the expo plays in fortifying international economic collaboration. He expressed gratitude to China for inviting the UAE as a Guest of Honour and commended the organisation of the event. Al Saleh noted the significant expansion of UAE-China relations over the past four decades, emphasizing that the UAE has become China's foremost non-oil trading partner in the Middle East and Africa. He mentioned that China is now the UAE's largest global trading partner, a testament to their deepening strategic partnership.
Al Saleh also pointed out that the digital economy currently constitutes approximately 12 percent of the UAE's non-oil GDP, with ambitions to increase this share to 20 percent by 2031. This goal aligns with the UAE's vision to establish itself as a global hub for advanced technologies and digital investment. He further noted the UAE's pioneering step of appointing a minister of artificial intelligence in 2017.
In a nod to the UAE's investment climate, the UNCTAD's World Investment Report 2025 ranks the UAE 10th globally for inbound foreign direct investment (FDI) in 2024, with a record $45.6 billion in FDI inflows. Al Saleh emphasized that Chinese investments in the UAE amount to about $9 billion, with over 16,500 Chinese companies operating within the country, many of which are engaged in digital trade and advanced technologies.
Al Saleh extended an invitation to Chinese firms in the digital trade sector to consider the UAE as a strategic gateway to markets in the Middle East, Africa, and Asia. The UAE's pavilion at the expo showcases ten government and private exhibitors, focusing on national initiatives in digital transformation, artificial intelligence, FinTech, and smart government services.
The Global Digital Trade Expo, held at the expansive Hangzhou Grand Convention and Exhibition Centre, spans 155,000 square metres, marking the largest edition since its inception in 2022. The event features participation from over 1,700 companies, including 360 international exhibitors, and anticipates attendance from more than 40,000 professional visitors, 10,000 of whom are from overseas.