Thoughts from the Chair of the ICC UAE Trade and Investment Commission
Chair, ICC UAE Commission on Trade & Investment
Managing Director, Felix International General Trading LLC
After the pandemic, everybody has a huge expecations for a much improved world. However, despite resumption of near normal activity the world remains challenged in the context of international trade and development.
The maintain and increase momentum we must focus on Trade & Investment, not just locally but regionally and globally.
During the pandemic, most people were worried about losing their jobs or missing professional opportunities for advancement of their careers. The move to digital has surely advanced but not to the level or at the pace which was anticipated by global commentators.
We are once again getting out and glad to be attending exhibitions, workers are working at factories, offices and other institutions. The banks, payment terms, and delivery terms remain similar despite promises of incredible transformation during the pandemic.
However, the days of a yearly, weekly or five years plan are now long gone. The world is now in an accellerated state of transition which in the backdrop of a challenging economic environment and increased geopolitical risk meand adaption and innovation in trade & investment strategies are essential.
Here are the three simple ideas to improve connectedness.
Observation and Communication:
To observe the market, needs, and people is a crucially important way to get updated. Especially, to talk with people from different backgrounds, approaches, interests and age groups. I always have had fruitful chats with my daughter and her young colleagues. I learned a lot of things from her and her friends. She is only 8 years old but I can imagine the future while talking with them. The games children are playing and their interests are giving us clues as what to expect in the future.
Social media might be good to follow but unfortunately, many of the ideas are copy-paste. To be more creative I recommend limiting your interaction with social media. Believe me, if something important to know, your social media lovers’ friends inform you.
Read, Write and Watch:
The way we read it is a good way to absorb and learn. Reading different topics helps to create a rich and diverse mindset. Different sectors have their balance, rules, and unwritten trading habits so if you read articles about different sectors, you can easily implement hidden strategies for other sectors. For example, there are many traditional promotion tools in one sector which are not common use in other sectors. So even if we are an expert in one sector, we can search for fruitful information in other sectors and positive ideas can cross polinate.
Endeavour to be unique:
Every day we have a lot of stimulants and they directly or indirectly impact who we are if we allow them and are open to new ideas. We need to make an effort to keep our uniqueness. We all have natural talent but it needs to be nurtured and honed. It is quite difficult while socialising with the community to maintain our own unique identity. My suggestion is to keep calm and go to your inners self iniside every day for at least 30 minutes. Just sit and relax or go out on your own. Think, feel, and take steps to create a better version of yourself. Expoore how you can possibly achieve a greater potential the current version of yourself? Look at what else we can do differently to reach your uniquenes and contribute in a more meaningful way to the world – whether that is the trade world, the business world or your own personal environment.
I get regular life lessons from my daughter, she likes drawings and I suggested her take an art class. She replied to me, ‘if I take an art class from someone else how will I draw as who I am? Being someone or copying someone else would be too boring.’
Finally, try to explore who you are in Trade and the way of you are doing in your Business.
Invest in Trade but most importantly invest in yourself!