The 7th EU-GCC Business Forum, a cornerstone event fostering economic collaboration, has successfully concluded in Manama, Bahrain, on November 21, 2023 at the Ritz Carlton. Co-hosted with the Minsitry of Industry and Commerce, the forum’s conclusion marks a significant step forward in reinforcing the economic synergy between the European Union and the Gulf Cooperation Council, as it centered around the theme “Redefining Economies – Building a Sustainable and Diversified Future.”
The forum attended by policy leaders, businesses and government leaders witnessed strategic dialogues led by industry experts resulting in a series of pivotal outcomes:
- Energy Transition: A clear consensus was reached on the acceleration of energy transition, with emphasis on implementing innovative strategies for sustainable energy and energy security.
- Circular Economy Advancements: Participants reached an agreement on the integration of circular economy principles, aiming to foster economic competitiveness and environmental sustainability through shared initiatives.
- Logistics and Transport Innovation: The forum showcased transformative green logistics and transport solutions, aligning policy frameworks to boost sustainable mobility, connectivity, and trade investment.
- Women’s Economic Empowerment: The event carved out new pathways for enhancing women’s roles in trade and investment, recognising the critical impact of the twin transition and Industry 4.0.
These discussions underscored the commitment to leverage innovation, renewable energy, and digital transformation as key drivers of economic growth, social prosperity, and environmental responsibility. The emphasis was on actionable outcomes that would cement the EU’s position as a vital trade and investment partner for the GCC.
The EU-GCC Business Forum culminated with a strengthened resolve to pursue shared objectives, emphasising the importance of knowledge sharing, market access expansion, and the empowerment of small and medium-sized enterprises.
The outcomes of the forum are set to guide future initiatives, as both regions navigate the complexities of the global economic landscape with a united vision for a sustainable and resilient future.