Global cooperation is an imperative in a fragmented world. Abdulla Adel Fakhro of the Ministry of Industry & Commerce Kingdom of Bahrain outlines how the Gulf Cooperation Council is forging new alliances and expanding trade partnerships to help help build peace and tackle climate change.
Despite mounting pressures, the report points to new areas of collaboration as a sign that progress is still being made. The Gulf Cooperation Council (GCC) is embracing that approach, as its member nations – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) – forge new alliances and expand trade partnerships.
Economic integration is an important building block towards international cooperation. The GCC itself exemplifies that.
While the union has encouraged deeper ties between members, GCC countries have also been busy building trading relations with a broad range of external partners. This is a key part of the bloc’s economic diversification strategy, driving foreign direct investment (FDI) into growth industries to help reduce its dependence on oil revenues.
With the region investing in smart cities, digital technologies and a growing startup ecosystem, the GCC is making significant efforts to encourage tech collaboration.
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