(WAM) — Dubai Customs’ Statistics section- Strategy and Corporate Excellence Department held a discussion session titled Dubai and Global Trade: Challenges and Opportunities in cooperation with Al Marifa (Knowledge) Company.

The discussion highlighted the main challenges facing Dubai and global trade due to the spread of the Covid-19 pandemic and the trade conflict between China and the USA, as well as the UK’s exit from the European Union. The participants also talked about the expected different scenarios for future recovery from these challenges in 2020 and 2021.

Participants in the discussion closed it with a positive note saying that the economic situation during the coming period will not be as bad as expected, but will have a shift in behavior and trends.

Despite these challenges, Dubai remains resilient and capable of not only overcoming the hurdles, but also seizing and developing opportunities. Expectations are high that 2021 will be the year of UAE’s and Dubai’s economic recovery, thanks to a number of factors including the stimulus package launched by the government following the wise directives of the leadership.

Dr. John saphakianakis, senior economist at Al Marifa Company and a leading researcher at Harvard University, Dr. Oscar Zmilis, and international relations expert, and Javeed Iqbal, CEO of Al Marifa Company were the main speakers in the session.

A number of directors and experts from Dubai Customs and DP World, and experts from other government departments attended the session.