Page 216 - MOE ENGLISH PR REPORT - FEBRUARY 2024

3/5/24, 10:18 AM Ministry of Economy and Crescent Enterprises launch report on the Future of Trade 2050 at WTO’s MC13 in Abu Dhabi | Air Freig…
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 advocates for

collaboration, innovation, and the development of inclusive regulatory frameworks to
ensure a resilient and sustainable future for global trade.

Commenting on the future of trade, 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."

This report serves as a testament to the UAE's efforts and position as a major gateway
for global trade and investment and its proactive role in shaping the discourse

surrounding international and inclusive trade.

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