The UAE is working with its public and private sector partners to ensure the supply chain is secured against any disruption, especially in the Red Sea, a senior official said on Tuesday.
“The UAE established many initiatives, policies and regulations to ensure food security and other supply chain aspects. We are working on policies to make sure that the supply chain is secured. We are coordinating with strategic partners in government and private sectors, especially after what happened in the Red Sea. We are finding a new route between the UAE and other countries to ensure that the supply chain is not impacted. The UAE is still strong because of the secured supply chain,” said Hanan AlKhozaimi, director of Competitiveness and Quality Marine, Ministry of Energy and Infrastructure, UAE.
Of late, global trade has been held back by disruptions at two critical shipping routes. Attacks on vessels in the Red Sea area reduced traffic through the Suez Canal, the shortest maritime route between Asia and Europe, through which about 15 per cent of global maritime trade volume normally passes. Companies diverted their ships which increased delivery times by 10 days or more on average.
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A severe drought at the Panama Canal also forced authorities to impose restrictions that have substantially reduced daily ship crossings since last October, slowing down maritime trade through another key choke point that usually accounts for about 5 per cent of global maritime trade.
Hanan AlKhozaimi was speaking during a panel discussion at the 10th edition of the World Congress hosted by the World Free Zones Organisation. Many senior officials from the public and private sectors attended and addressed the three-day conference.
She added that the UAE’s Ministry of Energy and Infrastructure is working with public and private sector partners to reach a net zero goal by 2050.
“In UAE, we are encouraging marine, land and air sectors to transition into clean energy through hydrogen and other alternative fuels. We have to find a solution to reduce carbon emissions all over the world, which is the worst for the planet. We are establishing strategies for net zero and also putting together a framework for how to transit to new generations of fuels, especially hydrogen,” she added.