Dubai: Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, took part in the Annual Meetings of the Global Future Councils and Cybersecurity 2025, held from 14th-16th October, where he engaged in a panel discussion titled 'Taming Trade'. The discussion focused on the challenges posed by trade tensions between major nations worldwide.
According to Emirates News Agency, Dr. Al Zeyoudi addressed the shifting global trade landscape, emphasizing that while tariffs were initially thought to impact only specific countries, the reactions have been widespread, leading to increased complexities. He noted that the reduction of tariffs is improbable in the near future, dubbing it 'the new reality'. He compared the global trade flow to a stream of water, indicating that despite global tariffs and unpredictable policies, trade finds its path, prompting countries to forge new alliances and diversify their supply chains. He urged nations to adapt swiftly while maintaining traditional ties and building regional partnerships to pursue economic stability.
Dr. Al Zeyoudi also pointed out the interconnectedness of data, supply chains, and cybersecurity, with artificial intelligence playing a crucial role in enhancing trade technology efficiency. Sarah Thorn, Vice President of Global Government Affairs at Walmart, joined him on the panel, highlighting Walmart's marketplace growth and efforts in empowering small businesses. She stressed the necessity of ensuring diverse sourcing options and expressed concerns about the challenges faced by small industries.
Other panelists included Josephine Wolff, Director of the Hitachi Centre for Technology and International Affairs at The Fletcher School, Tufts University; Simon Evenett, Professor of Geopolitics and Strategy at the International Institute for Management Development (IMD), Switzerland; and Lauren Chung, CEO of Strategy and Communications for Asia Pacific at Taneo Holdings (Hong Kong). The dialogue explored how CEOs are managing geopolitical uncertainties by reinforcing supply chain resilience, promoting regional collaboration, and fostering innovation. Companies are increasingly implementing 'local for local' production models, flexible manufacturing strategies, and forming new trade and research partnerships beyond traditional multilateral systems, with a focus on Asia, China, and the UAE.
Discussions also delved into the integration of geopolitical risk and product availability into corporate risk management frameworks. The event, organized by the UAE Government in collaboration with the World Economic Forum (WEF), brought together over 700 global experts from 93 countries across 37 Councils to advance sustainable growth, enhance community well-being, and shape future opportunities.