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The present and future of global trade

Wed, October 7, 2020

Technology and ICT will fuel the future of trade and Dubai is well placed to be ahead of the curve.

Technology and ICT will fuel the future of trade and Dubai is well placed to be ahead of the curve.

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US$1.5 trn

Gap in financing

There is a US$1.5 trillion gap in trade finance, with banks rejecting half of all SME applications and squandering millions in bureaucracy.

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19th

Worldwide for exports

Dubai is ranked 19th worldwide for exports, ahead of Australia, Brazil and Turkey.

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26%

Growth in blockchain

Dubai’s blockchain market grew at a rate of 26%, beating the world average of 19%

Free zones enable trade with 100% foreign ownership
Diversification has been key to the UAE’s success. As the country became less dependent on oil, it opened up a number of free zones, the majority of which are based in Dubai. There are now free zones for nearly every industry sector from aviation and precious gems to media, education and design, offering 100% foreign ownership and favourable rates. Laws governing the rest of the country have now been relaxed to allow full ownership of businesses in more than 120 additional industries, from agriculture to the arts.
The future of trade
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How Dubai has prepared for the future of trade and logistics

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