In an era defined by economic volatility and shifting trade patterns, the Coface Country Risk Conference held April 15th at Dubai's One&Only Royal Mirage Hotel delivered critical insights for businesses navigating uncertain waters.
The gathering brought together financial leaders, economists, and executives seeking strategies to build resilience amid growing global challenges.
"The 'great moderation' - the economic golden age characterized by robust growth, low inflation, and weak volatility over the last 30 years - is definitely over," warned Jean-Christophe Caffet, Coface Group Chief Economist, in his keynote address. His stark assessment highlighted how ongoing trade conflicts are reshaping the global landscape: "The current trade war will lead to significant supply chain disruptions, lower growth, and higher inflation, hence to a more stagflationary and volatile environment."
A notable point of concern for attendees was Jean-Christophe Caffet's forecast, suggesting that "corporate insolvencies are likely to keep rising over the next several quarters, and possibly even years." driven by the dual pressures of compressed operating margins and rising interest expenses. His analysis underscored the conference's central theme: businesses must adapt to fundamentally changed economic conditions.
Seltem Iyigun, Coface Middle East and Turkey Economist, offered a more optimistic outlook for the GCC region: "Despite global headwinds, GCC economies continue to demonstrate remarkable resilience. Diversification efforts, strategic investments in key sectors, and robust fiscal positions have created a buffer against global volatility. We anticipate moderate but stable growth across the Gulf region through 2025, with the UAE and Saudi Arabia leading economic expansion driven by non-oil sectors."
A distinguished expert panel featuring:
- Valerie Hawley, Executive Director of the Sorbonne Centre for Artificial Intelligence
- Nikos Sarvanakis, Senior Finance Director Middle East at The Coca-Cola Company
- Avinash Babur, Founder & CEO of Insurancemarket.ae
- Sreedhar Suragouni, Chief Operations & Technology Officer at Sukoon Insurance
- Aurelien Duthoit, Group Sector Economist Technology & Retail at Coface
expanded on these themes, examining how innovation and Artificial Intelligence are transforming risk management approaches across industries.
"Our goal is to deliver crucial insights into the geopolitical, economic, and technological trends that will shape tomorrow's business landscape," explained Sandrine Sarikey, CEO Middle East at Coface, describing the conference as the organization's "flagship event."
The conference exemplified Coface's commitment to providing business leaders with the analytical tools and strategic perspectives necessary for success in today's complex markets. Through its comprehensive suite of trade credit insurance, debt collection, and business information services, Coface continues to offer valuable guidance for companies seeking sustainable growth amid economic turbulence.
Want to know how Coface solutions can help you monitor your trade partners and make better decisions? Contact us.