The Global Freight Summit kicked off in Dubai on November 15, 2023, drawing in more than 4,000 participants from across the world to address the industry’s challenges, as new research by DP World, a leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe, points to a new sense of optimism about creating more resilient supply chains in the coming years. 

Despite acknowledging challenges from geopolitical uncertainties, communication gaps, and heightened competition, more than 60% of freight forwarders said they were ‘very optimistic’ as we approach 2024. The survey canvassed the opinions of dozens of freight forwarders, shedding light on their collective outlook on overcoming hurdles. 

This year’s Summit was inaugurated by His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai. It was attended by speakers and distinguished guests including Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, H.E. Helal Saeed Al Marri, Director General, Dubai Department of Economy and Tourism, Steve Wozniak, co-founder Apple Computer Inc., JB Straubel, CEO, Redwood Materials & Co-Founder, Tesla Motors, and many more. 

The survey underscores the need for greater collaboration throughout the supply chain to boost efficiency, a sentiment shared by 40% of respondents. Additional key factors for resilience include reducing regulation (15%), embracing new technologies (12%), and a heightened focus on Electric Vehicles and last-mile delivery (10%). 

Notably, the research showed 34% of respondents believe the majority of the supply chain is already digitalised, with 31% saying they have achieved full digitalisation. The role of technology was highlighted as a crucial enabler for more efficient supply chains, which is critical to future-proofing the industry. 

Delving into broader industry concerns, the survey looked at the importance of supporting small to medium sized enterprises (SMEs) in the face of the current $2.5 trillion trade finance gap. For 26% of freight forwarders, improving access to trade finance is key to helping SMEs expand internationally, alongside the need to improve technological literacy (14%). 

When it comes to operating sustainably, 59% of freight forwarders surveyed are actively exploring alternative modes of transport or offering emissions tracking tools to their clients. 

The research coincided with the second edition of the three-day Global Freight Summit, themed ‘Making the future supply chain a reality’. Over the course of the two-day Summit, participants will hear insights from industry leaders, discussing actionable strategies to address the biggest challenges. It builds on the success of the inaugural event in 2022, which attracted over 1,500 visitors and participants from more than 155 countries. 

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: “We are operating in an era of uncertainty, so the global supply chain industry must come together to build a more resilient future. Technology dictates how the world does business, so innovation will be vital to ensuring the seamless movement of goods around the globe. Amidst geopolitical uncertainties, heightened competition, regionalisation and rising inflation, the logistics sector must create new tools and solutions to navigate these economic headwinds. Strategic investments in technology, infrastructure, and pioneering new trade routes are essential for realizing a future supply chain that can overcome today's challenges." 

Mike Bhaskaran, Group Chief Operating Officer of Digital Technology, DP World: “We are delighted to open the second annual Global Freight Summit here at the Coca-Cola Arena here in the heart of Dubai, welcoming our colleagues from the wider global trade community. In a new trade and logistics reality rich with opportunities for innovation, we’re incredibly excited to convene our peers across the industry to share best practices and insights on how to make the future supply chain a reality. We look forward to welcoming our esteemed guests and partners to this landmark event.” 



About Global Freight Summit: 
The Global Freight Summit is DP World’s vision to create a platform to convene the influential minds from the international freight forwarding and supply chain communities. An event that brings industry leaders and the global freight community together to discuss the pressing challenges and issues keeping them awake at night. This November DP World will again convene the international freight forwarding and supply chain communities. Under the theme ‘Making the future supply chain a reality’, the summit explores how all industry stakeholders can take action together to build solutions to the major challenges faced by the sector.