Sweeping advance in tech and finance to fuel global trade: DMCC’s report

DUBAI, The Dubai Multi Commodities Centre, the world's flagship Free Zone and Dubai government authority on commodities trade and enterprise, is launching its latest report on the 'Future of Trade' at London's Altitude on 15 May 2018.

DMCC Executive Chairman Ahmed bin Sulayem and Asia House Chairman Lord Green of Hurstpierpoint will address over 130 C-suite executives, academics, government representatives and economists in attendance.

Michael Lawrence, Chief Executive of Asia House and former Global Editor of Reuters, will also chair a Question Time style debate with panelists Sir Jonathan Faull, Chair of European Public Affairs, Brunswick Group and former Deputy Director General, Directorate General of Competition, European Commission; Anne Ruth Herkes, Former State Secretary at the German Federal Ministry of Economic Affairs and Energy; Anthony Butler, Chief Technology Officer for IBM's blockchain practice in the Middle East and Africa; Sinan Ozcan, Senior Executive Officer, Maersk; and Gautam Sashittal, Chief Executive Officer, DMCC. Topics to be addressed include the following: -Could reducing supply chain barriers to trade increase global GDP by nearly 5 percent and trade volumes by 15 percent? -Cost of trade globally is $1.8 trillion. 20 percent of that cost is related to paperwork. Could blockchain change the game? -Are the rules of engagement for global trade changing in the wake of Brexit, trade tariff disagreements and protectionism? -China is expected to free up nearly 85 million labour - intensive manufacturing jobs between 2016 and 2030. Will Africa be the next manufacturing hub? -50 percent of SME's applications for funding are rejected. Could tech bridge the $1.5tn trade finance gap? -Imports from Belt and Road countries increased faster than exports for the first time in 2017. Is Belt and Road changing the future of trade, and who really stands to gain? Building on research conducted over the last 12 months, The Future of Trade brings together the collective thinking of 250 global industry leaders, academics and experts across 6 leading commodity trade hubs, London, Zurich, Dubai, Singapore, Johannesburg and Hong Kong. In addition to comprehensive quantitative research by The Centre for Economics and Business Research.

The Future of Trade highlights the emerging impact of digital transformation for importers and exporters, along with the ongoing shifts in global economic power.

Source: Emirates News Agency