From the editor's desk

Discussions of logistics and supply chains have been thrust into the spotlight in recent months. With air freight disrupted to an unprecedented degree and face-to-face human contact made much riskier, trade solutions are needed vital. No where is the hunt for trade, logistics, and distribution solutions more pressing than for personal protective equipment and COVID-19 vaccines. As several vaccines make there way from development to mass distribution, cold supply chains, paradoxically, has become a hot topic, in the words of Dubai’s DP World. Indeed, according to the Dubai Chamber of Commerce and Industry (Dubai Chamber), cargo activity is up in the Middle East despite the pandemic and shipping data indicates slight recovery in recent months.

Contrary to most places, Dubai is experiencing more of an acceleration of ongoing trends rather than total disruption at the macro-economic level. Led by DP World, those active within the Emirate’s trade ecosystem continue to develop innovative, technology-driven solutions. The novel coronavirus outbreak brought more urgent necessity and faster adoption of such initiatives.

Moreover, the boom in e-commerce spurred on by COVID-19’s restrictions on in-person interactions has deepened the links between trade and technology. Worldwide e-commerce sales are expected to nearly double from GBP2.7 trillion in 2019 to GBP5 trillion in 2023. Dubai is striving to become the global e-commerce hub, and developments such as Dubai Economy’s Trader License for online businesses, which grew by 83% in 1H2020. Dedicated e-commerce free zones further foster linkages across stakeholders. Dubai CommerCity, with its developers saying that COVID-19 quickened rather than inhibited progress, is on track to open by the end of 2020. Trade is getting an additional boost from Dubai Airport Free Zone Authority’s (DAFZA) recent agreement for incentives for Israeli companies.

The latest global events combined with Dubai’s commitment to trade solutions makes this an incredibly salient, compelling special report, done in partnership with Dubai Chamber. Within these pages we explore the ways in which Dubai was relatively prepared and how COVID-19 has added more nuance to the enduring dialogues. Arguably by its very nature, trade is one of Dubai’s most dynamic sectors, and this remains true in the midst of a pandemic. In conversations with leading voices throughout the network, such as DP World, Dubai South, DAFZA, Maersk, and Dubai Multi Commodities Centre, this report builds off the Emirate’s decades-long trade history and adds the next chapter in its book of triumphs.