October 04, 2022
AMF 2022: Dubai set to record AED1.6 trillion in non-oil trade in 2022, says Sultan bin Sulayem
AMF 2022: Dubai set to record AED1.6 trillion in non-oil trade in 2022, says DP World’s Sultan bin Sulayem
Sultan bin Sulayem: “From a port operator, DP World’s role has expanded and spans from the factory floor to the customer’s door and everything in between”
“Media has a huge role to play in debunking misinformation by verifying their facts and sources, and presenting news only once it has been authenticated”
Dubai is on track to meeting its 2026 trade target of AED2 trillion announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, a senior official told an audience of prominent writers, thought leaders, opinion-makers, renowned media personalities, and senior executives of leading Arab and international media organisations gathered in Dubai for the milestone 20th edition of the Arab Media Forum (AMF).
Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, noted that Dubai is all set to end 2022 with AED1.6 trillion in non-oil foreign trade despite the headwinds faced by the global logistics sector. Bin Sulayem made the remarks during Day 1 of the AMF, which kicked off in Dubai today.
Among the attendees of the keynote opening session titled ‘Trade in an Ever-Changing Media Landscape’ were Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority; His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum, Chairman of Dubai Media Incorporated; and several regional and international media personalities.
“I’m pleased to say that Dubai’s non-oil foreign trade will reach AED1.6 trillion by the end of this year,” Bin Sulayem said. During the session, moderated by CNN’s Anchor and Abu Dhabi Managing Editor Becky Anderson, Bin Sulayem discussed trends impacting global trade, DP World’s smart trade solutions, the company’s role in enabling and streamlining global trade and supply chains, and the media’s role in these unprecedented times.
In his message to the audience comprised of the Arab region’s and some of the world’s most influential media personalities, he said that there was a lot of misinformation in the world and that it was the role of the media to report the truth. “Our big problem today is that, sometimes, the media is in a hurry to break the news without validating the facts. Unfortunately, fake news travels fast. Media has a huge and noble role to play here, to present news only once it has been authenticated. A good journalist will always verify their facts and sources, and that’s what we need to see more of,” he said.
Opportunity in crises
“We learnt a lot during the pandemic,” Bin Sulayem said, adding that DP World now plays a much bigger role in the global supply chain than it did pre-2020. “Everybody talks about just-in-time logistics, but what we’re now seeing is resilient logistics,” he said. “When China locked down during the pandemic, the world woke up to supply chain bottlenecks. Logistics is one of the few industries that had not been disrupted in a long time. But it happened. As a part of the supply chain, we were forced to change. We introduced new methods, including digitalisation,” he noted.
The DP World Chairman said the company’s earlier role as a port operator had expanded, and its operations now span from the factory floor to the customer’s door and everything in between. “We built our own platforms, including one called Cargoes that has several parts including cargo tracking, trade finance, shipping, port community system, Customs, and others.”
Among trade trends highlighted by Bin Sulayem was near-shoring, or the trend of multinational companies looking to manufacture their products in markets near their customers. “Apple is manufacturing its iPhone in India, for instance. We’ll see many hi-tech products manufactured once again in developed countries despite the cost of labour there. It’s the age of the brain, and automation means that machines that make hi-tech devices can be moved easily,” he said.
Organised by the Dubai Press Club (DPC), the two-day AMF kicked off in Dubai today under the theme “The Future of Media.” The theme stems from the Forum’s core mission to catalyse the advancement of media in the Arab world.
AMF 2022 aims to highlight the media sector’s most critical challenges. This year’s forum focuses on the need for continuous development to attain a better future for the Arab media sector, realise its ambitions, and tackle challenges. The emergence of new media trends and tools emphasises the centrality of media in shaping the perception of events worldwide as the primary tool for educating people and the platform from which the creative sectors emerge.
Launched by the DPC over 20 years ago, AMF is one of the major events in DPC’s annual calendar of events. The Arab world’s largest media gathering, AMF has emerged as the most comprehensive platform for knowledge exchange in the Arab media community. The annual platform, which attracts thousands of prominent thought leaders, has steadily evolved in scope and reach to encompass a broad international outlook.
For more press releases and images, visit AMF’s digital press kit https://bit.ly/3M1ledy
