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Empowering Global Trade: Smart Logistics for a Resilient Future

SpeakerS:

H.E. Luis Abinader, President, Dominican Republic
Sultan Ahmed bin Sulayem, Group Chairman & CEO, DP World
Nicole Goodkind, Senior Reporter, CNN

With Lead Programming Sponsor

“If you have corruption, forget about partnership, because you will just have crooks in the government and in the private sector, and not real development.” H.E. Luis Abinader
“We have a single window system in our port community in Dominican Republic where a shipper or an importer doesn't need to go physically anywhere; he goes into that platform and from there he pays the custom duty, everything inspected, and finally the product is allowed to leave without any paper; it's all electronic, and this gives the government precise information and is good for security and avoids anybody taking advantage of the system.” Sultan Ahmed bin Sulayem
“I don't think it's an overstatement to say that trade is the engine that drives the global economy; it fosters growth and creates opportunity worldwide.” Nicole Goodkind

Key takeaways:

  • Trade as the engine of the global economy: Trade is crucial in fostering growth and creating opportunities worldwide, but it faces unprecedented challenges like natural disasters, geopolitical tensions, tariff uncertainties, and the lasting effects of the pandemic. Ensuring security against illegal activities, including cyber attacks and the trafficking of illegal goods, is a significant challenge that requires constant attention and collaboration. 
  • Need for transparency and rule of law: Transparency, rule of law, and the absence of corruption are foundational for attracting investment and fostering economic growth.
  • Partnerships are key to resilient economic growth: Innovative strategies and smart logistics, made possible by collaboration between governments and private sector entities, play a significant role in overcoming supply chain hurdles, and building resilient, agile, and future-ready supply chains.

Action items:

  • Invest in systems that work: Implement advanced security protocols, including cyber security measures and enhanced screening technologies, to combat illegal activities in supply chains. Stakeholders should invest in smart logistics technologies to enhance supply chain efficiency and resilience. 
  • Governments must create optimal conditions: Governments should ensure transparency and uphold the rule of law to create a favorable business climate and attract investment. Countries with strategic geographical positions should capitalize on their location by developing logistics hubs and securing beneficial trade agreements.
  • Prepare for policy uncertainties: Businesses should develop strategies to manage and adapt to policy changes, including tariffs and trade regulations.