Cairo

The Egyptian capital, Cairo, recently hosted the Seamless North Africa 2024 Conference and Exhibition, which lasted for two days under the slogan “The Future of Digital Trade Across North Africa”. In his opening speech at the conference, His Excellency Ahmed Aboul Gheit, Secretary-General of the League of Arab States, noted the distinguished experience of the UAE in the field of digital transformation and digital economy with its qualitative cumulative experiences, as well as some of its sister countries from the Gulf and North Africa.

One is proud of the presence of high-level Emirati competencies and expertise such as Dr. Ali Al-Khouri, President of the Arab Federation for Digital Economy, who is the dynamo of the movement towards a better future for digital trade in our Arab world. He spoke about the accelerating pace that characterizes the sector’s performance, as digital transformations will draw the new features of the digital economy.
The man says to indicate this: “In 2021, the value of global digital sales reached about $5 trillion, and this number is expected to jump to $7.5 trillion next year… while digital sales in 2010 did not exceed $600 billion, which means there is a profound change in the nature of the economy that requires looking at the future through a different lens, in which there is no place for traditionalism.”

In the Arab world, according to Dr. Al-Khouri, expectations indicate that “the value of digital trade in the Arab world is likely to reach $50 billion by 2025… up from $2 or $5 billion in 2010.” And “the next generation of digital trade will not be just an extension of current developments, but will carry qualitative transformations that will completely reshape the rules of the game. Artificial intelligence, blockchain, and digital payments, especially digital currencies that we see today taking their path towards regulation, will radically change the way our systems and environments interact, and with each other.” Global transformations call for preparing for the fifth generation of e-commerce, the revolutionary difference that artificial intelligence will make in markets, and the algorithms that will enable immediate integration between databases and government and private services, which will make logistical and financial operations smoother and more compliant with legal standards and transparency.

The UAE was a pioneer in fully preparing for these transformations early on – as is its habit in anticipating the future – by building the necessary infrastructure and legislation that provide it with the appropriate ground not only for launch, but also for the country’s transformation into a leading center for the digital economy. It has succeeded in presenting an inspiring Emirati model in the digital world and the digital economy.