Companies and authorities leaders from the EU and the GCC got here collectively on the fifth EU-GCC Enterprise Discussion board that centered on the right way to drive the post-pandemic restoration within the two areas towards a inexperienced and digital transition. The occasion passed off at Expo 2020, Dubai on Oct. 23, with panel discussions that coated completely different matters as a part of the theme, “Accelerating GCC Financial Diversification after the Disaster — The Approach Ahead.”
“Our well-established EU-GCC cooperation supplies the appropriate framework to advance collectively towards a sustainable financial mannequin. As we transfer on, we must always be taught classes from the pandemic and use the chance to do issues higher,” mentioned Margaritas Schinas, vice chairman of the EU.
The discussion board concerned periods that coated matters equivalent to Enhancing EU-GCC Commerce and Funding, Innovation and Financial Acceleration, and Commerce and Funding Alternatives within the GCC.
“The probabilities are big for extra EU-GCC financial cooperation, commerce and funding in an more and more inexperienced and digitized world economic system. We should always faucet on the total potential of this rising new dimension of cooperation between our areas. I’m certain that at present’s spectacular EU-GCC Enterprise Discussion board will contribute to this goal in a major and tangible manner,” mentioned Stefan Schleuning, head of unit, FPI.4-Industrial Nations and International Coverage Help.
Session 1 coated “Enhancing EU-GCC Commerce and Funding Alternatives” that highlighted the significance of innovation labs for ladies to organize them for extremely paid roles with extraordinary expertise, get rid of gender and social gaps, along with selling enterprise alternatives arising from the transition.
In Session 2, audio system coated “Innovation and Financial Acceleration,” together with the EU area program, which supplies full entry to knowledge collected freed from cost for the advantage of the world as a complete; water shortage, which is an enormous problem for the area; and the efforts which can be being made to scale back meals waste and enhance power from meals waste.
Session 3 included shows from six GCC international locations. Among the attention-grabbing factors that had been coated by the UAE speaker included:
• The UAE had superior 9 ranks within the influx of overseas funding in 2020, to fifteenth globally, with a development charge of 11.2 p.c.
• The UAE superior six ranks globally within the outflow of overseas funding in 2020, to rank thirteenth globally.
• The UAE’s Golden Visa is out there within the UAE for worldwide traders and high expertise from around the globe, offering them with visas for as much as 10 years.
• The UAE’s funding surroundings is marked by stability, fashionable infrastructure, efficient financial coverage, and fashionable financial legislations.
The EU-GCC Dialogue on Financial Diversification is a venture funded by the European Fee Service for International Coverage Devices. The venture contributes to stronger EU-GCC relations by supporting the GCC international locations within the ongoing means of financial diversification away from hydrocarbon dependent sectors.