Page 196 - MOE ENGLISH PR REPORT - FEBRUARY 2024

3/5/24, 10:18 AM Report on Future of Trade 2050 launched at WTO’s MC13
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
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

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