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3/5/24, 10:17 AM Report on Future of Trade 2050 launched at WTO’s MC13
Report on Future of Trade

2050 launched at WTO’s
MC13

ABU DHABI, 5 days ago
Only by understanding what trade
might look like in 25 years’ time,
can “we develop a system that is
fairer and fully future-proofed”,
said Dr Thani bin Ahmed Al
Zeyoudi, UAE Minister of State for
Foreign Trade.

“As new technologies emerge and
economies seek to become more
sustainable and environmentally
responsible, the global trading
system must constantly evolve to Al Zeyoudi speaks at the launch
meet new forms of exchange. It is
important that we in the global trading community always anticipate the forces impacting supply
chains,” the Minister said launching a report titled ‘Trade 2050: A Private Sector Perspective’ during
The World Trade Organization’s 13th Ministerial Conference.

Al Zeyoudi, said: “The history of the UAE has been shaped by trade and we are keen to help shape
its future. 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.”

Importance of collaboration
Badr Jafar, Chief Executive Officer of Crescent Enterprises, a UAE-headquarterd multinational
diversified business, revealed some of the main findings of the report at the WTO’s MC13’s
Ceremonial Gala dinner which took place 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 importance of joint efforts between the public, private and civil
sectors in tackling the rapid technological, socioeconomic, political and environmental changes that
will take place over the coming years.

He said: “In today’s dynamic environment, the need to react to ever-changing realities can be all-
consuming. It is during such times of transition that as policy makers, companies and individuals, we
have a duty and an opportunity to look beyond our own immediate interests. 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.

“The UAE, underpinned by its highly strategic location, world-class infrastructure and strong
international relationships, is uniquely positioned to work constructively with other members of the
international community to address the various challenges that confront us and realise the many
opportunities that are within our grasp. I remain optimistic that by working together, we can create a
more prosperous and sustainable future – in which trade is able to flourish anew, and nobody is left
behind.”

Evolving relationship

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