The photo has been used for illustrative purposes.
COVID-19 has changed the dynamics of global trade as economies around the world deal with disruption in supply chains, address geopolitical challenges, invest in digital technologies and diversify exports, industry experts said during a recent panel discussion hosted by Dubai Chamber of Commerce and Industry.
The panel was held during a virtual event titled Global Trade - A Paradigm Shift, organised as part of the Chamber’s 360 Dialogue Series. The series offers a platform for knowledge-sharing and open dialogue on issues of particular interest to businesses in Dubai, while it supports the Dubai Chamber’s efforts to keep the business community informed of the latest economic developments and market trends.
Joining the discussion were Kebour Ghenna, Executive Director Pan African Chamber of Commerce and Industry; Dr Taimur Baig, Managing Director and Chief Economist, DBS Group Research; and Javier Pea Capobianco, Secretary-General, Association of Latin American Service Exporters.
The panellists shared valuable insights on key trends reshaping emerging market economies, the sustainability of supply chains, changes in trade finance and policies, and the increase of cross-border trade, in addition to the development of trade-related infrastructure and technology.
Policymakers and businesses alike need to reset their strategies towards more resilient trade ecosystems, taking into consideration the implications of these factors, which are significantly changing international markets, the panellists noted.
In his welcome remarks, Hassan Al Hashemi, Vice President of International Relations, Dubai Chamber, described Dubai as a prime example of a trade hub that has remained resilient throughout the pandemic, thanks to the proactive approach adopted by the government, strict preventative measures, world-class logistics facilities and advanced digital infrastructure that has ensured business continuity.
Al Hashemi called for the development of new initiatives and that are being introduced to promote international trade in the COVID-19 era, such as Dubai’s World Logistics Passport. He explained that the initiative is catalysing the emirate’s ongoing efforts to diversify and boost its foreign trade, and noted that the emirate is in a strong position to achieve its new trade targets as it has the support of by Dubai Chamber’s representative offices that are strategically located across Eurasia, Africa and Latin America.
Over 100 industry experts shared their insights and recommendations for supporting the growth of digital companies in the emirate on the first day of the Dubai Digital Economy Retreat on Tuesday.
The Dubai Digital Economy Retreat concluded recently with the adoption of a new action plan designed to develop Dubai’s digital economy strategy.
Data and artificial intelligence (AI) are expected to become key pillars that will build and grow the UAE’s digital economy in the future, adding a major boost to the country’s gross domestic product (GDP)
The director general of the World Trade Organisation, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund to help female entrepeneurs
In the presence of Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED),
The growth opportunities and continued resilience of the aviation sector in a challenging environment will dominate discussions at the 11th Arab Aviation Summit (AAS 2024)