DP World CEO not worried by Trump’s protectionism

Sultan bin Sulayem described the current antiglobalist movement as a phase



The CEO and chairman of DP World Sultan Ahmed bin Sulayem has said he is “not at all” worried by the protectionist stance of US President Donald Trump.

Speaking on stage at the World Government Summit in Dubai, Sulayem said the current anti globalist rhetoric embodied by the United Kingdom’s vote to leave the European Union and the election of Trump “a phase”.

“I think the antiglobalist sentiment is just a phase I don’t think its going to affect our business,” he said.

Sulayem also used the session to call for supply chain efficiency in Africa and better infrastructure to connect landlocked countries on the continent like Mali and Chad.

“This is the opportunity and this is the growth I see for my company,” he said.

Currently 75 per cent of DP World’s growth is in emerging market likes Africa and Latin America and Sulayem said he calculated for every 1 per cent of GDP growth in a country there was a chance to ship 3 per cent more containers to it.

DP World currently operates 77 marine and inland terminals across the world.

Earlier this month the company indicated that market conditions were challenging but it expected growth in Europe, India and Turkey.

Read: Dubai’s DP World says Europe, India, Turkey to lead growth in 2017

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