Page 192 - MOE ENGLISH PR REPORT - FEBRUARY 2024

3/5/24, 10:17 AM Report on Future of Trade 2050 launched at WTO’s MC13
The report serves as 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, which is significantly influenced by overarching megatrends such as rapid
technological advancements.

The report highlights the rising prominence of emerging economies, the transformational role of
technology, the rapid growth of service trade, and the importance of sustainability in global trade.
The purpose of the report is to prompt relevant stakeholders to take the needed and timely collective
actions to anticipate potential risks, be prepared for future challenges and capitalise on available
opportunities.

The report discusses not only how the methods of conducting trade will transform, but also how the
commodities being traded will evolve. It highlights the necessity for adapting to emerging
technologies, integrating growing economies into global trade, committing to sustainability,
supporting SMEs, and acknowledging the significant contribution of the services sector to the global
economy. The report advocates for collaboration, innovation, and the development of inclusive
regulatory frameworks to ensure a resilient and sustainable future for global trade.

Forward-looking
Tim Haas, Group Chief Operating Officer at Gulftainer, a leading operator of ports and terminals, and
a provider of customised supply chain and logistics solutions, said: “As part of the global supply
chain, it is essential for us to be forward-looking and anticipate the forthcoming changes that will
impact the future of the industry in the coming decades.

“By proactively adapting to the potential challenges and foreseeing opportunities in the global trade,
we will be able to better prepare our organisations and serve our customers. The future of trade
2050 paper is a reflection of the required collaboration amongst public and private sectors to ensure
a better trading environment for all."--TradeArabia News Service

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