Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
DMCC’S ‘Future of Trade” report: A new multilateralism is coming
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “After a record year for trade in 2021, we expect global trade growth to remain resilient in 2022, albeit with some slowdown in pace. Beyond the immediate support from a rebound in pent-up demand from the COVID-19 shock, there are also more long-term changes underway that should support cross-border trade in the years ahead – these include increased regionalism, strength in services trade, innovation, and climate politics.
“There is a joint imperative for the future of trade and the building of more crisis-resilient economies – financing the shortfalls in infrastructure and in trade finance. Tackling both in a way that is environmentally sustainable will be crucial. So too will be closing the digital divide between countries and sectors to bring the benefits of global trade to all.”
Geopolitics, as ever, will shape the trade landscape in the 2020s, building on new developments in regionalism, bilateral trade, and global investment flows, the report said. Nationalist – as opposed to protectionist – trade policies are likely to continue to dominate. A new multilateralism is likely to take hold. Old forms of multilateralism are likely to fade, while new forms, such as increased regionalism, will drive cross-border trade in new sectors, including predominantly in digitalisation and sustainability.
Bilateral, regional, and multiparty trade deals are increasing. In the UAE, the government is aiming to sign 27 bilateral Comprehensive Economic Partnership Agreements with key trading partners, including eight this year, as it looks to boost trade and foreign direct investment. Elsewhere, China and Taiwan’s stated bids to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, in addition to the United Kingdom’s ongoing accession process, offer opportunities for trade and bilateral investment.
Under the new trade paradigm, cross-border investment and trade will become increasingly market-seeking rather than efficiency-seeking. The intersection between trade liberalisation and digital transformation will continue to be a defining juncture, and the build-up of compatible and connective networks will be critical.
Developments in virtual assets, including central bank digital currencies, stand to reshape global finance, trade, and investment. Innovative technologies continue to drive productivity gains, sustainable development, and growth accelerations around the globe. Trade and technology will continue to seek synergies in 2022 and beyond.
Feryal Ahmadi, Chief Operating Officer, DMCC, said: “Robust global trade will help build resilience, sustainability, and economic growth in 2022 and beyond by providing countries with goods and services. Global value-chain restructuring will continue to be a source of trade normalisation and of reinvigorating recovery in global growth and cross-border trade, facilitating economic diversification and allowing countries to be less dependent on a limited number of importers, exporters, and sectors.”