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3/5/24, 10:16 AM     Ministry of Economy and Crescent Enterprises launch report on Future of Trade 2050 at WTO’s MC13 - News | Khaleej Times
         seeks to identify some of those forces – and the agility, adaptability and foresight we must demonstrate to keep pace with them. On
         by understanding what trade might look like in 25 years' time, can we develop a system that is fairer and fully future-proofed."
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         Badr Jafar, CEO of Crescent Enterprises, a UAE-headquartered multinational diversified business, revealed some of the report's
         main findings at the WTO's MC13's Ceremonial Gala dinner on February 26. Addressing trade ministers and senior officials from
         around the world, along with representatives of several local and federal entities and the private sector, Jafar outlined the importan
         of joint efforts between the public, private and civil sectors in tackling the rapid technological, socio-economic, political and
         environmental changes that will take place over the coming years, adding: "In today's dynamic environment, the need to react to
         ever-changing realities can be all-consuming. During such times of transition, we have a duty and an opportunity to look beyond o
         immediate interests as policymakers, companies and individuals. By deepening our collaboration across borders, sectors and
         disciplines, we can help shape the major paradigm shifts that will transform the future of trade."


         "The UAE, underpinned by its highly strategic location, world-class infrastructure and strong international relationships, is unique
         positioned to work constructively with other members of the international community to address the various challenges that confro
         us and realise the many opportunities within our grasp. I remain optimistic that by working together, we can create a more
         prosperous and sustainable future where trade can flourish anew, and nobody is left behind," he added.


         This report is a crucial discussion document on the forces anticipated to impact the trading system over the next 25 years. It
         emphasises the evolving relationship between trade, geopolitics, and global commerce, significantly influenced by megatrends suc
         as rapid technological advancements. The report highlights the rising prominence of emerging economies, the transformational rol
         of technology, the rapid growth of service trade, and the importance of sustainability in global trade. This report aims to prompt
         relevant stakeholders to take the needed and timely collective actions to anticipate potential risks, be prepared for future challenge
         and capitalise on available opportunities.























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