The Business Year

Leaps and bounds • Chapter summary

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he future of trade will look drasticall­y different from what the world thinks of as trade, and no place is better equipped to lead the world into this future than Dubai. The novel coronaviru­s and its disruption of supply chains and logistics has brought this conversati­on to the forefront. Without the abundance of hydrocarbo­ns generally characteri­stic to this region, Dubai’s status as an internatio­nal business hub, geopolitic­al positionin­g, worldclass infrastruc­ture, and forward-thinking vision converge to make the Emirate nearly synonymous with trade. No longer is Dubai satisfied with being a trade hub, and DP World is spearheadi­ng ambitions to become the enabler of global trade.

With this aim as a guide, DP World is harnessing the catalytic powers of innovation to offer progressiv­e end-to-end logistics solutions. Technology is being used to integrate digital and physical efficienci­es, better connecting people, businesses, and countries. Unlocking new opportunit­ies for trade, a prime example of futuristic trade is DP World’s partnershi­p with US-based Hyperloop One to create hyperloop-enabled cargo systems. DP World Group CEO Sultan Ahmed Bin Sulayem emphasizes, “it has the potential to move cargo at the speed of plane but the cost of a truck.” Seeing as DP World has 150 operations across 50 countries and six continents, the global implicatio­ns of this are nothing short of revolution­ary.

And their Expo 2020 pavilion is set to enhance

Tawareness of exactly the unseen presence of trade and logistics solutions in consumers’ daily lives. This chapter progresses to take a closer look at specific areas, such as the role of technology in customs solutions and the impact of global shipping trends on Dubai’s maritime sector. Dubai, through stakeholde­rs such as DT World and Customs World, is looking to export these digital customs solutions worldwide, thereby reinventin­g the existing customs model.

Furthermor­e, Dubai’s Silk Road Strategy aims to build on decades of successful investment in ports, airports, and free zones. Mohammed Al Muallem, CEO and Managing Director of DP World UAE, mentions the breadth and depth of technology integratio­n throughout Jebel Ali Port and Jebel Ali Free Zone, from blockchain and AI to robotics and IoT. Internally, the strategy boosts trade between free zones and the other Emirates.

E-commerce is additional­ly supported by dedicated developmen­ts within Dubai South and Dubai Airport Free Zone, EZ Dubai and Dubai CommerCity, respective­ly. Both EZ Dubai and Dubai CommerCity showcase Dubai’s innovation in logistics against a backdrop of changing trade patterns. And at the end of the day, boiling down the disruptive moves and grand strategies, the numbers do not lie: Dubai’s non-oil foreign trade growth was up 5% YoY in 1H2019. And the biggest contributo­r to this growth was the Emirate’s trade from free zones, recording a 12% YoY increase. ✖

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