Companies and authorities leaders from the EU and the GCC got here collectively on the fifth EU-GCC Enterprise Discussion board that centered on tips on how to drive the post-pandemic restoration within the two areas towards a inexperienced and digital transition. The occasion occurred at Expo 2020, Dubai on Oct. 23, with panel discussions that lined totally different matters as a part of the theme, “Accelerating GCC Financial Diversification after the Disaster — The Means Ahead.”
“Our well-established EU-GCC cooperation gives the precise framework to advance collectively towards a sustainable financial mannequin. As we transfer on, we should always be taught classes from the pandemic and use the chance to do issues higher,” stated Margaritas Schinas, vp of the EU.
The discussion board concerned periods that lined matters corresponding to Enhancing EU-GCC Commerce and Funding, Innovation and Financial Acceleration, and Commerce and Funding Alternatives within the GCC.
“The probabilities are enormous for extra EU-GCC financial cooperation, commerce and funding in an more and more inexperienced and digitized international economic system. We must always faucet on the total potential of this rising new dimension of cooperation between our areas. I’m positive that as we speak’s spectacular EU-GCC Enterprise Discussion board will contribute to this goal in a big and tangible manner,” stated Stefan Schleuning, head of unit, FPI.4-Industrial Nations and International Coverage Assist.
Session 1 lined “Enhancing EU-GCC Commerce and Funding Alternatives” that highlighted the significance of innovation labs for ladies to arrange them for extremely paid roles with extraordinary abilities, eradicate gender and social gaps, along with selling enterprise alternatives arising from the transition.
In Session 2, audio system lined “Innovation and Financial Acceleration,” together with the EU house program, which gives full entry to information collected freed from cost for the good thing about the world as a complete; water shortage, which is an enormous problem for the area; and the efforts which might be being made to scale back meals waste and improve vitality from meals waste.
Session 3 included shows from six GCC international locations. Among the attention-grabbing factors that have been lined by the UAE speaker included:
• The UAE had superior 9 ranks within the influx of international funding in 2020, to fifteenth globally, with a development charge of 11.2 %.
• The UAE superior six ranks globally within the outflow of international funding in 2020, to rank thirteenth globally.
• The UAE’s Golden Visa is obtainable within the UAE for worldwide traders and prime expertise from around the globe, offering them with visas for as much as 10 years.
• The UAE’s funding surroundings is marked by stability, trendy infrastructure, efficient financial coverage, and trendy 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 technique of financial diversification away from hydrocarbon dependent sectors.