Despite escalating geopolitical tensions, executives from the UAE and KSA expect double-digit growth in exports in 2024 and are deploying innovation and tech to counter supply chain issues, as per Annual Trade in Transition study, commissioned by DP World and led by Economist Impact revealed. At a time when the UAE and Kingdom of Saudi Arabia undergo transformation to move away from fossil fuels, companies are focusing on diversifying networks and growing exports in new markets in 2024, Abdulla bin Damithan, CEO and MD, DP World GCC said. About 57 per cent of companies believe they will sell 10 per cent more in 2024. Also, 40 per cent of companies feel they will buy 10 per cent more, the study stated. “As we navigate the evolving geopolitical and economic landscape in 2024, firms are aligning their strategies with initiatives such as Dubai’s D33 and Saudi Arabia’s Vision 2030,” bin Damitahn said.
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