DP World chairman calls for global 'standardisation'
Better international cross-sector connectivity is needed in order to grow global trade, Sultan Ahmed Bin Sulayem, DP World group chairman and CEO told delegates at China's Belt and Road Summit in Hong Kong.
Speaking on the panel 'Enhancing cross-sector connectivity along the Belt and Road', Sulayem emphasised the positive impact economic cooperation can have on global trade, with more than 60 countries involved in the One Belt One Road (OBOR) initiative.
"With a project of this magnitude, it is essential that we remove complexities from the supply chain to realise the potential benefits of such a global initiative,” Bin Sulayem told delegates. “International transport routes need to support seamless trade movement more than ever - this means simplifying customs requirements and standardising logistics, addressing different rail gauges and ICT issues so that goods can move smoothly from point A to B without interruption and unnecessary bottlenecks. This requires cross-sector and cross-border partnerships.”
"Dubai and the UAE are exporting this knowledge and expertise across the world,” he added. “We've pioneered multimodal transport and logistics connectivity with smart technology at our flagship Jebel Ali Port and Jebel Ali Free Zone, home to 7,300 companies. It has tremendous capability to process and deliver cargo with remarkable efficiency and is an outstanding example of how important soft and hard infrastructure are to the socio-economic success of any nation. That experience is being applied to our other operations across the world."
Bin Sulayem met Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Carrie Lam, chief secretary for administration of the Hong Kong Government during the summit. He also visited Shenzhen and Qingdao as part of a Jafza roadshow to meet key customers and stakeholders.
Bilateral trade between the UAE and China has more than doubled in the last five years, to reach almost US $55 billion in 2015. The UAE is also the largest Middle East market for Chinese goods, and is home to some 4,200 Chinese companies.