DMCC Presents 2024 Future of Trade Report to WTO in Geneva Briefing

Photo : Dubai Government Media Office

DMCC, recognized globally as a premier free zone and governmental authority overseeing commodities trade in Dubai, hosted a significant event at the World Trade Organization headquarters in Geneva, Switzerland. The occasion centered around the presentation of DMCC's highly anticipated Future of Trade 2024 report to a select group of trade experts, including high-level officials such as WTO Director-General Dr. Ngozi Okonjo-Iweala.

The report delved into the shifting dynamics of global trade, forecasting a new era of regionalization driven by geopolitical tensions, climate change, and economic nationalism. It highlighted opportunities for businesses to restructure supply chains, diversify export markets, and embrace new technologies like AI to foster economic resilience and sustainability.

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Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasized the UAE's evolving role within the WTO framework, from integration to leadership. He underscored the WTO's pivotal role in Dubai's emergence as a global trade hub, facilitated by agreements like the Trade Facilitation Agreement.

Ngozi Okonjo-Iweala commended the report for recognizing both the challenges and opportunities in global trade, affirming the WTO's commitment to fostering an enabling environment for member states to capitalize on emerging trade prospects.

Feryal Ahmadi, Chief Operating Officer at DMCC, stressed the importance of collaborative efforts among businesses, governments, and regulators to navigate current trade complexities. She highlighted the WTO's critical role in promoting global trade stability and economic growth amidst rapid change.

The report also spotlighted Switzerland's ascent to third place in the Commodities Trade Index, highlighting its strategic advantages and robust trade relations with the UAE. DMCC reaffirmed its commitment to advancing global trade discourse through its flagship Future of Trade report series, recognized for its comprehensive insights into the evolving trade landscape.

Overall, the event underscored DMCC's leadership in shaping the future of international trade, emphasizing the need for adaptive strategies and global cooperation to navigate the complexities of a rapidly evolving global economy.