🌍 GCC 2035 Conference Highlight: Shaping the Future of Regionalization, Trade, and Investments
On October 3, 2024, the GCC 2035 Conference convened visionary leaders and experts from across the Gulf Cooperation Council (GCC) to explore the next era of regional resilience, innovation, and economic integration. Held in Doha, Qatar, and co-hosted by Georgetown University McDonough School of Business, Georgetown University in Qatar, the Ministry of Finance Qatar, and the GCC Secretariat, the event provided a platform to assess the GCC’s pivotal role in navigating a rapidly evolving economic and geopolitical landscape.
Notable participants included His Excellency Mr. Ali bin Ahmed Al Kuwari (Qatar), International Monetary Fund Managing Director Kristalina Georgieva, H.E. Mohammed Al-Jadaan (Saudi Arabia), H.E. Salman bin Khalifa Al Khalifa (Bahrain), H.E. Hassan Al Thawadi, and leading executives and investors from across the region.
“The GCC’s future hinges on strategic partnerships and economic diversification,” said IMF Managing Director Kristalina Georgieva. “By leveraging its vast resources and deepening regional cooperation, the GCC is well-positioned to navigate global trade shifts and economic challenges. The region’s commitment to long-term sustainability—through investments in renewable energy, innovation, and capital markets—will ensure its resilience and leadership on the world stage.”
In the opening panel, the GCC Finance and Economy Ministers underscored the importance of aligning national priorities with regional integration to navigate shifting trade patterns, geopolitical tensions, and rising nationalism.
Kristalina Georgieva highlighted the critical role of partnerships between the IMF and GCC in driving economic resilience and sustainable growth, emphasizing, "The GCC’s transition from hydrocarbons to a diversified economy offers a unique opportunity to lead global markets in renewable energy, data-driven exports, and financial innovation. Strengthening capital markets, fostering private-led growth, and promoting multilateralism amidst global economic fragmentation, will position the region as a model for strategic economic transformation."
The conference reaffirmed the importance of a coordinated and forward-thinking approach by the GCC, aimed at building a diversified, resilient, and interconnected economy that fosters sustainable growth and prosperity beyond its borders. By integrating renewable energy, developing AI-driven data solutions, and supporting private sector growth, the GCC is establishing itself as a global hub for innovation and resilience, with the IMF aiding these initiatives to enhance regional stability and competitiveness.
Stay tuned for more updates on the key takeaways and insights from the overall conference discussions!
Anil Khurana Daniela M. Joe Feuer Raj M. Desai Stephen Weymouth Ricardo Ernst
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