Hainan
His Excellency Dr. Ali Mohammed Al-Khouri, President of the Arab Federation for Digital Economy, stressed the importance of employing digitalization in developing the global trade system, noting that building trade environments based on reliable data and smart procedures is one of the main pillars of the next stage of the global economy.
This came during his participation in the first meeting of the International Advisory Council of the Hainan Free Trade Port, which was held in Hainan Province, China, chaired by His Excellency Feng Fei, Secretary of the Chinese Communist Party Committee in Hainan Province, and attended by His Excellency Xie Jing, Governor of the Province, along with members of the Council from the leadership of financial and investment institutions, global companies, international organizations, think tanks and public policy.
Al-Khoury spoke within the fifth axis of the meeting, which dealt with scientific and technological empowerment and the role of international cooperation in employing science and technology to drive innovation and growth in emerging industries, including the digital economy, biotechnology and deep technology.
He explained that the launch of special customs operations for the Hainan Free Trade Port represents an important milestone in the port’s development, noting that the success of the next phase depends on the new system’s ability to provide an operational environment characterized by clarity, reliability, and predictability for traders, investors, logistics providers, and various stakeholders in the international trade system.
He pointed out that the digital economy provides practical tools to transform institutional openness policies into tangible economic results, stressing that international experiences have proven that digital transformation achieves its real impact when it becomes an essential part of the operational structure of the economy, including trade, customs, logistics, payments, compliance and risk management.
He said the opportunity between Hainan Free Trade Port and the Arab region lies in building reliable digital trade corridors that contribute to accelerating cross-border trade transactions, and providing higher levels of efficiency and transparency, making trade and investment more attractive and sustainable.
Al-Khoury proposed establishing a partnership between Hainan and the Arab region in the field of trade monitoring, with the aim of developing practical mechanisms that help identify trade and investment opportunities, understand regulatory requirements, facilitate trade, and support economic and investment decisions with specialized data and analyses.
He added that this partnership could contribute to supporting efforts to modernize trade infrastructure in Arab countries, while at the same time providing a practical platform for Hainan to develop and test next-generation models of international trade and consolidate its position as a global center of knowledge and innovation in the fields of smart trade.
Al-Khoury concluded his speech by emphasizing that combining institutional innovation with reliable international partnerships enables the building of a practical model for the next generation of global trade, based on technology, joint economic development, and the creation of sustainable value for all parties.
The International Advisory Council of the Hainan Free Trade Port is a high-level international advisory platform comprising 61 members, including senior business leaders, decision-makers, and international experts, representing the finance, investment, technology, aviation, logistics, energy, international consulting, chambers of commerce, international organizations, think tanks, and public policy sectors. It is dedicated to providing strategic insights and recommendations that support the development of the Hainan Free Trade Port.
