Fourth Global Trade And Supply Chain Summit Commences In Dubai With Focus On Sustainability And Innovation

The Global Trade and Supply Chain Summit's fourth edition started in Dubai, organised by Economist Impact with the New Economy Academy. This two-day event at JW Marriott Hotel Marina Dubai gathers over 500 leaders, policymakers, and experts to discuss global trade resilience, sustainability in supply chains, geopolitical influences, and sustainable practices amid rising costs.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, delivered the opening keynote. He highlighted the UAE’s role in supporting a multilateral trading system. Dr. Al Zeyoudi emphasised the positive effects of the UAE's Comprehensive Economic Partnership Agreements on non-oil exports and the economy. He stressed the importance of strengthening global trade connections and adapting to energy and sustainability needs.

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The summit features 60 sessions with over 100 speakers from around the world. Discussions include enhancing supply chain efficiency through digital innovation and advanced technologies to improve sustainability and resilience. The event also focuses on long-term sustainability in global trade amidst rapidly changing dynamics.

On the first day, sessions covered various topics such as generative AI's transformative role in procurement, streamlining supply chain finance, building resilience against weather volatility, future supply chain management, digital trade regulation impacts, and data localisation in digital trade. Free trade agreements' role in fostering growth in developing countries was also discussed.

The second day will delve into themes like financing sustainable trade and using AI and robotics to enhance delivery networks. It will also cover upskilling supply chain professionals for the AI era, digital trade strategies in Africa, and India's economic growth impact on global trade. Sessions will explore innovative local solutions for global impact and technology-driven innovation revitalising trade.

The summit aims to strengthen connections among global trade players by embracing new alliances. It seeks to adapt to energy demands while focusing on sustainability challenges amid rising costs. The event concludes tomorrow after exploring these critical issues affecting global trade operations.

With inputs from WAM