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3/6/24, 9:46 AM UAE minister of economy stresses need for alternative trade routes amid Red Sea conflicts | MENAFN.COM
supply, making sure there's enough supply to the market in the UAE, the region and the
world,” he made this statement while attending the Investopia conference in Abu Dhabi on
Thursday.
He commented that returning to a normal balance between supply and demand would require
a bit more time.
“There would be investments coming in to make sure there are factories closer to new
markets, redesigning supply routes and supply trade globally. That will actually boost the
economy forward,” Mr bin Touq declared.
The disruptions caused by these attacks have significantly impacted trade routes, leading to
extended transit times and affecting the financial performance of shipping companies. In
response to these challenges, shipping companies have increased their rates to offset the
losses incurred as a result.
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