Saudi Arabia’s Path to Economic Diversification through Research, Development, and Innovation
Economics

Saudi Arabia’s Path to Economic Diversification through Research, Development, and Innovation

All of the GCC member states are taking action to realise economic diversification while minimising dependency on fossil fuels. The most recent ranking of global competitiveness (the IMD World Competitiveness Ranking) shows Saudi Arabia making significant improvements in economic diversification through long-term sustainable value creation in the economy. The Saudi government has put research, development, and innovation projects at the heart of its economic diversification strategy. By consenting to an annual investment equivalent to 2.5% of the Saudi GDP in 2040, Riyadh hopes to create a high-value labour market essentially centred around technology and science.

July 29, 2022
France and UAE Further Cooperation on Energy and Climate Change
Politics, Technology

France and UAE Further Cooperation on Energy and Climate Change

On 18-19 July, the President of the UAE, Sheikh Mohammed bin Zayed, was in Paris for an official meeting with the President of the French Republic, Emmanuel Macron. This was Sheikh Mohammed’s first official state visit overseas since becoming President in May of this year. The visit resulted in a range of agreements being signed in relation to energy security and action to address climate change. The current context of the visit with the Russian invasion of Ukraine and the numerous sanctions that the European Union (EU) has imposed has led to European states seeking to diversify their sources of energy supplies. At the same time, the agreements also emphasise the need to further efforts directed at addressing climate change.

July 26, 2022
UAE Economic Diversification: 47% Increase in Non-Oil Exports
Economics

UAE Economic Diversification: 47% Increase in Non-Oil Exports

Since the discovery of immense oil and gas fields and the founding of the Federation, the economy of the United Arab Emirates (UAE), like its Gulf neighbours, has been primarily based on the exploitation and export of fossil fuels. While oil and gas output had contributed some 30% to the country’s GDP, this trend is changing.

July 14, 2022
Turkey Embarking on a “New Era of Cooperation” with Gulf Neighbours
Economics

Turkey Embarking on a “New Era of Cooperation” with Gulf Neighbours

As Turkey is facing its worst economic crisis in 20 years, President Recep Tayyip Erdoğan has embarked on a diplomatic reconciliation offensive with its Gulf neighbours, which began at the end of 2021 with the United Arab Emirates (UAE).

June 30, 2022
UAE-Sudan Engagement on Red Sea Port
Politics, Economics

UAE-Sudan Engagement on Red Sea Port

After several months of turmoil following a military coup last October, calm appears to have come back to the streets of Khartoum, the Sudanese capital. The dire economic situation of the country, paralyzed by unprecedented popular protests and riots that accompanied the fall of Omar El Bashir’s regime, has been further aggravated by the cut in international aid imposed since the military takeover. A recently published United Nations report also warns of a risk of famine which could affect no less than a third of the country's population owing to the multiple social, economic and political shocks that have destabilised Sudan in recent months.

June 29, 2022
FTA Between Israel and UAE – Two Years since the Abraham Accords
Politics, Economics

FTA Between Israel and UAE – Two Years since the Abraham Accords

The United Arab Emirates (UAE) and Israel normalised diplomatic relations in September 2020 by signing the Abraham Accords. Since then, the two countries have engaged in a range of cooperation projects, in the area of energy among others, in addition to opening embassies in their respective countries.

June 7, 2022
Morocco: An African Partner to Help Build a Greener Europe?
Economics , Technology

Morocco: An African Partner to Help Build a Greener Europe?

Despite the enormous economic and social impacts of the COVID-19 pandemic and the Russian invasion of Ukraine, the green transition continues to rank among the key priorities of the European Union (EU). In December 2019, the EU presented the Green Deal, an ambitious multi-year action plan that aims to make Europe climate-neutral by 2050 by using renewable energy to preserve the competitiveness of its economy while ensuring sustainable growth.

April 22, 2022
Steps Towards Economic Recovery in a Fragile Iraq?
Economics

Steps Towards Economic Recovery in a Fragile Iraq?

After two decades of war, Iraq continues to grapple with economic, political, security and environmental problems. The last legislative elections were held in October 2021 and saw the victory of the Sadrist Movement, led by Moqtada Al-Sadr. Since then, the many political groupings in the national parliament have repeatedly failed to elect the country’s president, a primarily symbolic position in this country governed by a parliamentary system. The presidential elections, which were to be held in February 2022, have been postponed indefinitely.

April 13, 2022
World Government Summit, Dubai: Building More Resilient Societies through Embracing Innovation
Technology

World Government Summit, Dubai: Building More Resilient Societies through Embracing Innovation

In recent years, the world has witnessed a number of critical developments, particularly in the field of technology, the consequences of which are felt in the areas of work, health, education, the economy and politics. The COVID-19 pandemic and its many consequences have further intensified disruptive phenomena worldwide and experts agree that we will need to continue to adapt to these changes for the foreseeable future.

April 7, 2022

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