Arab Digital Economy Panel explores region’s future in banking and e-commerce at Expo 2020 Dubai

 Digitisation is the future of the Arab economy and is key to creating an integrated and innovative society, experts agreed on Sunday (13 February) at the Arab Digital Economy Panel at Expo 2020 Dubai.

The event, sponsored by His Excellency Dr Ahmed Aboul Gheit, Secretary-General of the League of Arab States, and hosted by the UAE, aimed to enhance public opinion on the development of the digital economy in the Arab region. It sought to raise the competitiveness of Arab economies in the context of the Arab Digital Economy Vision initiative, under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The panel was attended by His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, as well as His Excellency Hossam Zaki, Assistant Secretary-General of the Arab League, and many experts and officials in this sector. 

The conference included several panel discussions that focused on transforming the Arab world’s economy into a digital economy, and discussed ways to push the region towards a more sustainable and inclusive digital future.

HE Zaki said in his opening remarks: “The digital economy is an engine of modern nations, the cause of the their development and a driver of competition between companies. Key businesses such as telecommunications, banking and e-commerce have grown significantly, but other more dynamic sectors have not benefited as much and should focus on this in the future.”

During the event, the Arab Federation for Digital Economy and the Arab Academy for Science, Technology and Maritime Transport signed a cooperation agreement in the field of digital education. The announcement of the first Arab e-commerce platform for agricultural exports also took place.

The session also addressed the expected role of Arab banks in developing the digital economy, the promotion of Arab joint ventures, and the impact of artificial intelligence, as well as the experience of the UAE with artificial intelligence applications, and their direct and indirect impact on the digital economy of the country.