Expo to strengthen economic ties between countries on digital trade

The fourth Global Digital Trade Expo opened on Thursday in Hangzhou, Zhejiang Province, with the UAE taking part as an official Guest of Honour alongside Indonesia.

The opening ceremony was attended by 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; Muhannad Sulaiman Al Naqbi, UAE Consul-General in Shanghai; as well as senior officials, representatives of government entities and national companies.

In his address, Al Saleh underscored the importance of the event in strengthening global economic cooperation, particularly in digital trade, which he described as a driver of growth and sustainable development. He thanked China for inviting the UAE as the Guest of Honour and praised the organisation of the expo.

Al Saleh said UAE-China ties had expanded significantly over the past four decades, making the UAE China’s top non-oil trading partner in the Middle East and Africa and a gateway for more than 60 percent of China’s trade with the region. China is now the UAE’s largest global trading partner, reflecting the depth of their comprehensive strategic partnership.

He added that the digital economy currently accounts for about 12 percent of the UAE’s non-oil GDP, with plans to double that share to 20 percent by 2031 as the country strengthens its role as a global hub for advanced technologies and digital investment. The UAE was also the first country to appoint a minister of artificial intelligence in 2017.

According to UNCTAD’s World Investment Report 2025, the UAE ranked 10th globally for inbound foreign direct investment (FDI) in 2024, achieving an unprecedented $45.6 billion in FDI inflows.

Al Saleh highlighted that Chinese investment in the UAE totals about $9 billion, while more than 16,500 Chinese companies operate in the country, many in digital trade and advanced technologies.

He also invited Chinese firms in digital trade and emerging technologies to view the UAE as a strategic launchpad into Middle Eastern, African and Asian markets.

The UAE pavilion at the expo features ten government and private exhibitors showcasing national initiatives in digital transformation, AI, FinTech, and smart government services.

The event runs until 29th September at the Hangzhou Grand Convention and Exhibition Centre, covering 155,000 square metres - the largest edition since the expo’s launch in 2022. More than 1,700 companies are taking part, including 360 international exhibitors, with over 40,000 professional visitors expected, 10,000 of them from abroad.

Meanwhile in April 2025, the UAE Ministry of Economy has signed a series of Memorandums of Understanding (MoUs) with several competent national authorities in the realm of anti-money laundering and countering terrorism financing, including the Economic Security Centre of Dubai (ESCD) and the Dubai Land Department (DLD). These agreements are designed to boost national efforts in developing a robust regulatory infrastructure, enhancing systems of integrity and transparency, and improving mechanisms to combat financial crimes in alignment with international best practices.

The MoUs also facilitate the exchange of vital data and information, while reinforcing the Ministry’s supervisory role in accordance with the relevant national legislation.

The signing ceremony took place on the sidelines of the summit titled “Role of the Designated Non-Financial Businesses and Professions (DNFBPs) Sector in Combating Financial Crimes,” which was recently held in Dubai.

It was attended by prominent figures, including Abdullah bin Touq Al Marri, UAE minister of Economy; Abdullah bin Sultan bin Awad Al Nuaimi, UAE minister of Justice; and Ahmed Al Sayegh, UAE minister of State.

The MoUs were signed by key officials: Abdullah Ahmed Al Saleh, under-secretary of the Ministry of Economy; Safeya Hashem Al Safi, assistant under-secretary for the Commercial Control and Governance Sector; Faisal Yousef bin Selaitin, CEO of the Economic Security Centre of Dubai; and Majid Saqr Al Marri, CEO of the Real Estate Registration Sector at the Dubai Land Department, along with other government officials.

Initiative supports institutional integration efforts This initiative is part of ongoing efforts to strengthen institutional integration and partnerships aimed at enhancing monitoring and compliance systems, while facilitating the exchange of data among all signatories. It supports their shared objectives to counter financial crimes in the UAE.

The MoUs establish clearly defined frameworks for technical cooperation, capacity building, and knowledge exchange. They also include secure data-sharing mechanisms that ensure confidentiality and compliance with relevant legal and regulatory requirements.