Ahmed Bin Sulayem, DMCC’s Executive Chairman and CEO, unveiled the report at the Royal Society of Arts in London, United Kingdom. During the launch event, DMCC’s representatives shared their views on the report alongside a panel of international industry leaders and economists from Hitachi ZeroCarbon, the Industrial and Commercial Bank of China (ICBC) and the European Center for International Political Economy (ECIPE).
The Future of Trade is the flagship thought leadership report series from DMCC on the changing nature of global trade. The report examines the impact of global economic trends, geopolitics, technology, sustainability and finance on the future of the trade landscape. The report series has been viewed and downloaded over 1.9 million times, underscoring DMCC’s growing recognition as a leading voice on international trade.
The report is a synthesis of expert opinions and detailed research on the outlook for international trade. DMCC convened nine global roundtables to seek insights from over 150 industry experts, interviewed trade specialists, analysed survey data and developed its commodity indices.
Dr. Hamad Buamim, Chairman of the Board, DMCC, said: “The world is braced for a series of transformative changes as regional trade ties deepen and novel technologies unlock efficiencies on a level we have never seen before. DMCC’s Future of Trade research sees the strong trends that emerged from the Covid pandemic – such as the widespread adoption of digital services and a shift away from globalisation – accelerate and take hold for years to come.”
Feryal Ahmadi, Chief Operating Officer-DMCC, said: “The world order is causing supply shortages, rerouting cargo, and adding costs to consumers. Services trade is where we expect a major surge given the new wave of digital services flowing across the world. The opportunities of AI on global trade are tangible today, both in supply chains and trade finance, and the dawn of new advanced forms will only strengthen its impact.”
Global trade growth and resilience will be maintained in 2024 as an accelerated shift to regionalisation drives deeper bilateral and multilateral partnerships. This will be underpinned by deep supply chain restructuring, modest and uneven goods trade growth, a surge in digital services trade and widespread AI adoption – finds DMCC’s latest Future of Trade 2024 report titled, Decoupled and Reconfigured.
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