UAE retains third position in logistics in emerging markets

DUBAI: The UAE retains third spot in an index that tracks the logistics sector performance in emerging markets. China and India are the two markets that are ahead of the UAE in the “Agility Emerging Markets Index”, foreign media reported on Monday.

While this is the sixth year in succession UAE has been ranked third, the country features in the Top 10 list of all three individual sub-Indices. The jump is the “result of the country’s continued open financial sector, transparent regulatory system and corruption protection frameworks and its progress towards a comprehensive national SME development strategy”.

The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers and distributors. Of the other Gulf states, Saudi Arabia was ranked sixth, Qatar seventh, Oman was at 14, Bahrain 15, and Kuwait 19th.

“The Gulf nations continue to diversify, making steady progress in streamlining regulation and realizing increased digital capabilities,” says Elias Monem, CEO of Middle East & Africa for Agility GIL. “The entire region is growing and the outlook continues to be healthy as we enter the new decade.”

Agility’s annual survey, which polled 780 supply chain professionals, recorded overall pessimism about the global economy, with 64 per cent saying a recession is likely. Only 12 per cent of executives said a recession is unlikely.