Page 209 - MOE ENGLISH PR REPORT - FEBRUARY 2024

3/5/24, 10:18 AM Ministry of Economy, Crescent Enterprises launch report on Future of Trade 2050 at WTO's MC13 in Abu Dhabi
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."

Jafar stated, "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."

This 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 this 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

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