Ocean world: The routes leading the UAE to success

Ocean world: The routes leading the UAE to success

The UAE economy's success is the result of many factors, first and foremost being the production and export of hydrocarbon products. However, its well-developed transport infrastructure plays a vital role by providing enormous opportunities for re-export.

The country's geographical location – halfway between the industrial economic routes of the Far East and Europe – has played a crucial role in its ongoing development as an international economic hub. At the same time, UAE companies are constantly exploring alternative logistics routes to enhance international cooperation.

One of the world's largest port operators, Dubai-based DP World, and the Russian State Corporation Rosatom, the operator of the Northern Sea Route (NSR), signed an agreement on strategic cooperation in the global market on the margins of the UN Climate Change Conference (COP28) in Dubai. The deal, a December 2023 Reuters report noted, envisages the creation of a global logistics operator to work in the Russian and international markets.

The operator will facilitate logistics integration among the BRICS members and partner countries. The project is aimed, inter alia, to expand and improve the reliability of global supply chains and increase global trade. The backbone infrastructure of Russia (including the Northern Sea Route), Eurasia, the Middle East, Africa, and