Page 188 - MOE ENGLISH PR REPORT

Page 188 - MOE ENGLISH PR REPORT - FEBRUARY 2024

P. 188

3/5/24, 10:17 AM Ministry of Economy, Crescent Enterprises launch report on Future of Trade 2050 at WTO’s MC13 in Abu Dhabi - Aletihad News C…
The UAE Ministry of Economy, in collaboration with Crescent Enterprises and Gulftainer, launched a report titled

“Trade 2050: A Private Sector Perspective” during the World Trade Organisation’s (WTO) 13th Ministerial Conference

(MC13) at the Abu Dhabi National Exhibition Centre.

The report was announced by Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, at the annual

session of the Parliamentary Conference on the WTO.

Dr. Al Zeyoudi, said, “The UAE’s history has been shaped by trade, and we are keen to help shape its future. As new

technologies emerge and economies seek to become more sustainable and environmentally responsible, the global

trading system must constantly evolve to meet new forms of exchange. It is important that we in the global trading

community always anticipate the forces impacting supply chains.

“This new report, which gathers the thoughts of key private-sector players from around the world, seeks to identify

some of those forces – and the agility, adaptability, and foresight we must demonstrate to keep pace with them. Only

by understanding what trade might look like in 25 years can we develop a fairer and fully future-proofed system.”

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 26th February.

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 importance of joint efforts between the public, private, and civ

sectors in tackling the rapid technological, socioeconomic, political and environmental changes that will take place

over the coming years.

He added, “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 our immediate interests as policymakers,

companies, and individuals. By deepening our collaboration across borders, sectors, and disciplines we are able to
help shape the major paradigm shifts that will transform the future of trade.”