Speaking on the second day of the congress, Ram Menen, Emirates’ Divisional Senior Vice President Cargo predicted that global trade lanes will change dramatically, likely within the next 20 years as the economic power of Asia and the Indian sub-continent reach their full potential.
In particular, Menen highlighted the fact that world air cargo growth is forecast to triple in the next 20 years, fuelled substantially by two key growth regions of the world- India and China.
“As Asia, and particularly countries such as India and China, continues to grow, its middle class is acquiring more purchasing power. Air cargo’s dependence on US consumers will decrease and global trade lanes are set to change.”
But in the meantime, there are many challenges facing the freight forwarding and related industries. He touched upon the issues of liberalisation, the progress of e-freight initiatives in the industry, the problems surrounding air cargo security, the challenges of environmental issues which he said had become highly politicised and high fuel costs that had touched US$90 per barrel only a day earlier.
He also urged delegates to speak as a collective voice across the industry and to unify all the elements of the supply and logistics chain. “The supply chain is a process, not a single item,’’ he said.“We are all peas of the same pod, it is very important that we have a common voice in dealing with the challenges that lie ahead,” he concluded.