MEDports Association Studies Development Prospects amid COVID-19

UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
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MEDports Association Studies Development Prospects amid COVID-19

UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM

In view of the disruption generated by the COVID-19 pandemic on the maritime networks, the Union for the Mediterranean (UfM) and the MEDports Association co-hosted a webinar with key sectorial partners to discuss how to enhance the sustainability and resilience of ports and maritime transport in the Mediterranean region during and after the pandemic.

The virtual meeting saw the participation of the International Association of Ports and Harbours (IAPH), the International Transport Forum at the OECD (ITF), the Institut Supérieur d’Économie Maritime (ISEMAR), the International Maritime Organisation (IMO), the United Nations Conference for Trade and Development (UNCTAD) and the European Commission (EC), as well as port authorities from the Mediterranean region and other areas across the globe.

The participants stressed that the Mediterranean Sea has been a critical maritime and commercial route for millennia and today. It is home to 87 ports of various sizes and strengths, serving local, regional, and international markets.

The COVID-19 pandemic has showcased the vulnerability of maritime networks, port efficiency, and hinterland connectivity in the Mediterranean to crisis situations.

Hervé Martel, President of the MEDports Association and CEO of the Port Maritime de Marseille, stated that: “We must anticipate and monitor the consequences of this crisis and contribute to building the day after through the implementation of new and more integrated innovative solutions in the Mediterranean basin aimed at advancing the ecological transition, the organizational renewal of regional logistics chains -in particular through the development of Motorways of the Sea services-, the industrial transition -including through relocation and re-regionalization of certain productive systems- and, finally, improving skills and qualifications to deal with all these changes.”

For his part, UfM Secretary General Nasser Kamel highlighted that: “The maritime industry is playing an essential role in the short-term emergency response to the pandemic, by facilitating the transport of vital commodities and products, thus sustaining jobs, international trade, and the global economy. Today, the UfM encourages regional partners to share good practices in the recovery phase so, in the final analysis, we succeed in keeping supply chains open at all times ensuring a continuous flow of maritime trade, while safeguarding health, safety and the well-being of the maritime transport community.”

Hervé Martel, President of the MEDports Association and CEO of the Port Maritime de Marseille, stated that: “We must anticipate and monitor the consequences of this crisis and contribute to building the day after through the implementation of new and more integrated innovative solutions in the Mediterranean basin aimed at advancing the ecological transition, the organizational renewal of regional logistics chains -in particular through the development of Motorways of the Sea services-, the industrial transition -including through relocation and re-regionalization of certain productive systems- and, finally, improving skills and qualifications to deal with all these changes.”

It was concluded that, with due regard to the protection of public health, ports must remain fully operational with all their regular services in place, guaranteeing complete functionality of the supply chains. Also, governments were called upon to support shipping, ports and transport operators in view of best practices.

The participants reiterated that the maritime transportation system will only be sustainable when it delivers safe, secure, efficient and reliable transport of goods across the world, while minimizing pollution, maximizing energy efficiency and ensuring resource conservation.

It was underlined that, in the maritime sector, resilience means that ports, and the organizations that depend on ports, can adapt to changing conditions and, when disruptions occur, they can recover quickly and resume business stronger than before.

Furthermore, it was noted that the COVID-19 pandemic could be an opportunity for the maritime industry to change the way the industry operates so as to effectively contribute to broader systemic resilience.

IAPH Managing Director Patrick Verhoeven highlighted that the crisis has painfully demonstrated that many ports are still lagging behind in terms of electronic commerce and data exchange. Acceleration of digitalization must, therefore, be a top priority in the post-COVID-19 era.

Meanwhile, Julian Abril Garcia, IMO Head of Facilitation, called for governments’ attention stating that “as of mid-June, around 150,000 seafarers per month will require international flights to ensure that crew changeovers can take place”.

Paul Tourret, Director of ISEMAR, stressed that we need to first understand the effects of the lockdown to build the recovery plan of the sector in the next month.

Nelly Asteriou and Szymon Oscislowski informed the participants that the EC introduced various short-term relief measures to maintain the freight flows, preserve the supply chains, protect crews and relieve current financial pressures on economic operators, along with medium to long term recovery measures to address economic recovery and ensure the sustainable development of the EU maritime industry over the years to come.



IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.


Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.


Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.