World FZO’s 10th Annual World Congress concludes in Dubai with 2000 Attendees from 136 Countries

World FZO’s 10th Annual World Congress concludes in Dubai with 2000 Attendees from 136 Countries

• Coincided with the organization’s launch in Dubai a decade ago

• Featured a ministerial meeting that discussed the future role of artificial intelligence and emerging technologies in global trade

• Sessions focused on the future of the organization, the free zones sector and other vital sectors over the next decade

H.E. Dr. Thani bin Ahmed Al Zeyoudi: ‘The UAE is strategically positioned as a global trade leader, adopting a neutral stance that balances trade and diplomacy’

Al Zarooni: ‘Today, the World FZO has become a global platform that elevates the performance of free zones and their strategic contribution to global economic growth.’

Dubai, UAE, 25 September 2024: Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the World Free Zones Organization (World FZO) successfully concluded the 10th edition of its Annual World Congress, which attracted over 2,000 participants from 136 countries.

This year’s congress coincided with the World 10th anniversary of the organization’s founding, witnessed by His Highness Sheikh Mohammed bin Rashid Al Maktoum in Dubai, where the organization’s headquarters is located. The organization has played a pivotal role in setting global standards and contributing to efforts aimed at achieving sustainable development worldwide. Over the past decade, it has successfully expanded its membership base from 14 founding members to a thriving global community of 1,600 members from 141 countries, supported by a global network of 12 regional offices and 42 national contact points.

Future of Key Sectors

The congress opened with a ‘Ministerial Meeting’ attended by H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, along with a Prime Minister, 24 ministers, deputy ministers, and secretaries-general. The meeting discussed the future role of artificial intelligence and emerging technologies in global trade, focusing on five key areas: how to harness emerging opportunities and address challenges through international cooperation, maximizing the potential benefits of AI and new technologies while minimizing risks, enhancing trade and AI integration to drive sustainable global development, stimulating trade and investment, and tackling supply chain challenges through free zones, while shaping safer, more resilient supply chains through modern economic zones. 

In his speech during the Ministerial Meeting, H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: ‘We are at the cusp of a new global trade paradigm, marked by both challenges and opportunities as global supply chains undergo transformation alongside the rapid digitalization of trade. Technology, meanwhile, is transcending boundaries and reshaping global trade, with artificial intelligence (AI) and blockchain improving the resilience of supply chains. Amid these shifts, technology emerges as a transformative force, capable of transcending regional boundaries and revolutionizing global trade.’

His Excellency added: ‘The UAE is strategically positioned as a global trade leader, adopting a neutral stance that balances trade and diplomacy while strengthening its global partnerships through comprehensive economic partnership agreements (CEPAs).’

Participants in the Ministerial Meeting affirmed the emergence of a new model for global trade driven by the transformation of global supply chains and the digitization of commerce. They noted that global conflicts, crises, trade disruptions, and protectionist trade policies are imposing new challenges on trade flows and economic growth internationally. However, they also highlighted that rapid technological advancements and global sustainable development efforts are creating new opportunities for countries and industries.

A Global Platform

H.E. Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organization, said: “The success of the 10th edition of the organization’s World Congress reaffirmed the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, who witnessed the founding of the organization a decade ago. Today, it serves as a global platform that elevates the performance of free zones and their strategic contribution to global economic growth, bringing together an integrated system that supports one-third of global trade passing through these zones across various regions.”

Al Zarooni added: “This year’s edition not only marks a decade since the organization’s founding but also looks toward the future by shedding light on trends and developments. We aim to strengthen the role of free zones worldwide in various sectors and industries while increasing the volume and smooth flow of trade and investment opportunities. Our goal is to keep free zones at the heart of the comprehensive transformation toward the economy of the future, anchored by the organization’s new corporate identity, which was launched during the congress. This identity focuses on three key strategic pillars, which aim to achieve sustainable development: Impact, Influence, and Trust.”

The sessions, focused events and workshops focused on the future of the organization, the free economic zones sector, and key industries over the next decade. The discussions emphasized the importance of actively contributing to achieving inclusive growth and prosperity at the global economic level, while continuing to build and strengthen trade relations and partnership networks between the economic zones of the member states. Additionally, there was a focus on expanding activities to include modern economic sectors that align with the requirements of the age of artificial intelligence, digital trade, the Fourth Industrial Revolution, and advanced technologies.

The congress agenda featured plenary sessions on the future of logistics, energy, access to finance, manufacturing, and the digital sector. Each session outlined the latest developments, challenges, and solutions for these sectors. The ‘Future of Logistics’ session highlighted the UAE’s use of automation and the Internet of Things to increase efficiency across ports, airports, and roads, while discussions also focused on carbon reduction strategies, green economy regulations, and the importance of public-private partnerships in adopting sustainable logistics technologies.

The ‘Future of Access to Finance’ session explored the evolution of free zones and their role in regionalizing supply chains and creating job opportunities. Participants stressed the importance of access to finance in driving foreign direct investment projects into new areas, particularly in Asia and Latin America. Meanwhile, the ‘Future of Energy’ session discussed the strategic role of free zones in connecting global energy markets, highlighting the UAE’s leadership in renewable energy and the transformative potential of artificial intelligence in energy management to enhance efficiency and sustainability.

Additionally, the session on the ‘Future of Manufacturing’ focused on the role of free zones in enhancing education, workforce development, and economic growth. It emphasized the importance of addressing misconceptions about free zones and the need to balance formal education with vocational training. The session on the digital sector explored the future of artificial intelligence, machine learning, cybersecurity, and data privacy, highlighting the role of free zones in fostering innovation, digitization, and boosting foreign direct investment flows.

Strengthening Regional Partnerships

The congress witnessed the signing of a Memorandum of Understanding (MoU) between the World Free Zones Organization and the African Continental Free Trade Area (AfCFTA). The MoU outlines the framework for bilateral cooperation in four key areas: policy development, capacity building, information exchange, and promoting trade and facilitating investments. The signing ceremony was attended by H.E. Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organization, and H.E. Wamkele Mene, Secretary-General of the AfCFTA.

The MoU outlines a collaboration between both parties to jointly develop policies aimed at enhancing the business environment within free zones across the African continent, while coordinating efforts to standardize regulations. It also includes the organization of programs, workshops, and sessions for stakeholders and partners, along with the provision of technical support and capacity-building initiatives for free zones and related organizations.

Additionally, the agreement encompasses the exchange of knowledge, information, best practices, market trends, studies, and reports. Both parties will also co-organize trade missions, investment forums, and exhibitions, promoting investment opportunities in African free zones to global investors.

New Strategic Approach

The 10th edition of the World Congress also saw the launch of the organization’s new corporate identity, which includes an updated vision, mission, and strategic pillars. In line with its new strategy, the organization’s key objectives for its new phase include opening new investment horizons and reinforcing social contributions by supporting net-zero initiatives. Leveraging its learning, communication, and consultation tools, the organization seeks to drive meaningful positive change and foster greater collaboration within the global ecosystem of free zones.