Unforeseen events such as the pandemic, inflation, and geopolitical tensions have exposed the fragility of global trade. The cost of shipping has exponentially increased, and at the same time, the frequency and routes are dramatically reduced by prioritizing large trading economies and isolating the developing ones.
The existing supply chain that was connecting electronic makers in Asia, natural resources in Africa, and food producers from Latin America has proven to be more fragile than expected making the overall logistics challenging and expensive.
In addition to that, with the efforts of the Conference of Parties (the next edition is scheduled in November 2023 in Abu Dhabi – UAE), climate change which is one of the world’s major concerns has become more apparent to governments. This would emphasize the need for governments to announce new regulations and set higher objectives that will further test the actual way we trade in the coming years.