Freight Forwarding Group Hears Good and Bad Predictions for the Supply Chain

POLAND – WORLDWIDE – The WACO System is one of the many collaborations of freight forwarding agents which ring the globe providing known partners for their international transactions. Formed in 1973 the Swiss headquartered operation recently held its latest AGM in Warsaw and, as well as the general opportunity to network and discuss logistics and the supply chain, the assembly heard from Professor Dr Borislav Bjelicic, from the University of Mannheim, in Germany, who discussed the current global economic situation and outlook for the sector.

Dr Bjelicic put the US, Europe, and China’s economic zones under the scope, and highlighted the expected rises in interest rates, protectionism, and other factors as casting a shadow over the world economy. He said in his speech:

“The world economy is currently performing well but protectionism could very well lead to a trade war, and higher interest rates marking the end of the loose monetary policy could temper consumer demands. All of this could very well lead to a situation where the global growth we have enjoyed over the last ten years comes to an end, which is something businesses should be taking into consideration so that we are not caught off guard, as was the case at the start of the last recession.”

The event welcomed 115 delegates representing 86 countries, who took part in hundreds of bilateral meetings to network and grow business. Dr Anselm Eggert, Vice President Strategy, Portfolio & Cooperations, Lufthansa Cargo, was also a keynote speaker at the three-day event, offering a more positive outlook after discussing the impact of digitisation on the airfreight industry. He commented:

“The global middle class is growing by almost 400,000 people per day, which is great news for humanity. This is also the leading driver behind the growth of global trade and will continue to drive growth in worldwide logistics. Digitisation will change logistics, it will unlock further growth and increase efficiency of operations, allowing for greater connectivity with customers and all players along the supply chain and making it more accessible for both.”

The WACO System holds two events a year, and its next event is an Extraordinary General Meeting (EGM) taking place in the somewhat more exotic location of Manila, the Philippines from 15th – 17th October. Speaking in Warsaw Richard Charles, Executive Director, The WACO System, said:

“From new technologies to an increasingly unpredictable political landscape, our industry is undergoing a period of great change. Delegates attending our AGM were able to learn a great deal about the challenges and opportunities our industry faces from top experts as well as benefit from a chance to connect with other supply chain businesses.”

Photo: The WACO delegates in Warsaw.