DUBAI, September 19, 2023 (WAM) — The third Global Trade and Supply Chain Summit, organized by The Economist Impact, kicked off today at The Address Dubai Marina Hotel, Dubai. Bringing together thought leaders, trade and supply chain policymakers, analysts, UN representatives and C-level officials in vital sectors, the event aims to discuss ways to build the resilience of global trade operations, the essential link that drives sustainability and connect supply chains. role of emerging markets in the coming years.
The summit will cover a wide range of themes, including the effects of geopolitical and economic turmoil on supply chain planning and operations, digital trade and technology, the changing role of customs organizations and compliance teams, and measuring and deploying sustainability initiatives across the supply chain.
Participants discussed, among others, the role of trade transformation in driving growth and new globalization, the diversification of supply chains, sustainability, product tracing mechanisms, managing data in digital trade, supply chain and trade resilience in emerging markets.
Day 1 of the Summit featured a number of panels bringing together decision makers and senior executives from international companies and organizations.
The first of these was a panel moderated by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who discussed the UAE’s role in trade transformation as a key supply chain hub and its commitment to providing realistic solutions for a smarter economy. , a more inclusive and sustainable global trading system.
In his keynote remarks, Dr. Thani Al Zeyoudi highlighted the UAE’s efforts to become a central location in the global value chain, noting that the UAE is working on a number of economic agreements to remove trade barriers and boost growth.
He also discussed the UAE’s key trading partners now and in the future, how government policies in the UAE are supporting trade growth, and Dubai’s efforts to achieve its ambition to become a major trade hub.
Dr. Al Zeyoudi said: “Trade has been essential to the UAE’s development and has strengthened our economic vision by opening new markets, boosting industrial productivity, creating jobs and introducing new skills and capabilities. That is why we remain a committed advocate of the multilateral trading system. But it is essential that trade evolves with the times and adapts to new technologies, development challenges and environmental responsibilities. As we move towards MC13, we will once again advocate for open, accessible and well-regulated supply chains – and use platforms like the Global Trade and Supply Chain Summit to urge stakeholders and policymakers to come together to make them fit for the 21st century. century.”
Under the theme ‘Bringing commerce into a new era – payments as a catalyst for the digital transformation of commerce’, Shahrokh Moinian, Managing Director and Head of EMEA at JP Morgan, emphasized that the time has come for commerce to move away from paper and cash money. and enter a new era with digital payments. He answered questions related to the role of fintech in driving the digital transformation of commerce around the world, as well as the role of e-commerce.
Mohammad Ali bin Rashed Lootah, President and CEO of Dubai Chambers, spoke on the theme ‘Big business and trade policy – how can companies do more’ and spoke about the need for the business voice to be part of the policy-making conversation on trade.
Beat Simon, Group Chief Commercial Officer, DP World, explored how diversifying supply chains and implementing logistics resilience can ensure global trade is prepared for what comes next, during a panel titled Addressing international trade challenges with end- to-end supply chain resilience.
Other panels held on the first day of the Global Trade and Supply Chain Summit included a panel entitled “New Trade Deals – Can They Revive Global Trade?”, featuring Elizabeth Baltzan, Senior Advisor in the Office of the United States Trade Representative and Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development answered questions about which countries are negotiating new trade deals and whether such deals will create substantial trade growth.
By hosting the Global Trade and Supply Chain Summit, Dubai is strengthening its growing role as a global economic and logistics hub and as a key destination for ambitious companies looking to expand their reach in the region.
The Economist Impact’s decision to host the Global Trade and Supply Chain Summit in Dubai reflects the emirate’s central role as a hub for global supply chains, along with the role that emerging markets such as the Middle East, Africa and Southeast Asia play in will play in the coming years. come.
In addition to hosting the event, the Executive Office of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Global Trade and Supply Chain Summit is sponsored by DP World, JP Morgan, SAP and Citibank.