Shaikh Fawaz bin Mohammed Al Khalifa, Bahraini Ambassador to the United Kingdom, has participated in a panel discussion themed “Beyond the FTA- Understanding Regional Transformation and Expanding UK-GCC Relations".
Co-organised by the Embassy of the Kingdom of Bahrain to the UK and the Tony Blair Institute for Global Change, the event was held on the sidelines of the Conservative Party’s annual conference in Manchester.
Dr. Liam Fox, Member of the House of Commons for the Conservative Party, Chair of the Global Britain Commission, the UK Abraham Accords Group and former Secretary of State for International Trade, Dr Azeem Ibrahim, Research Professor at the Strategic Studies Institute, US Army War College, and a Director at the Newlines Institute for Strategy and Policy in Washington D.C, and Charlotte Leslie, Director of the Conservative Middle East Council (CMEC).
Addressing the session, Shaikh Fawaz highlighted the positive economic situation in the region, noting that the gross domestic product of the Gulf Cooperation Council (GCC) countries is worth $2.4 trillion and is expected to reach $6 trillion by 2050.
He added that the GCC stock markets rank fifth among the 10 largest global ones, and that three GCC countries top the list of the top 20 countries in the Global Competitiveness Index, noting the diverse investment opportunities and facilities available in the region for various sectors and industries.
The Ambassador also indicated that the Kingdom of Bahrain is a regional and global role model for peaceful coexistence, adding that in light of the ongoing conflicts and misunderstandings, Bahrain proves that there is a pioneering experience in peaceful coexistence and good opportunities for peace in the region.
Dr. Liam Fox underlined the importance of strengthening cooperation between the UK and GCC countries in various fields, especially security and economy.
This is achieved through effective partnership, he said, adding that the region has witnessed a positive political change in light of the signing of the Abraham Accord Principles between the State of Israel, the Kingdom of Bahrain, the State of the United Arab Emirates and the Kingdom of Morocco.
Dr Azeem Ibrahim stressed that the Gulf region is the gateway to cooperation with the Indo-Pacific region, which is the most developed region in the world.
He highlighted the importance of the UK’s strengthening cooperation with the GCC region, especially in innovation and growth, noting that the GCC economic growth reached 7% last year, as a result of the economic plans implemented by GCC states, including Bahrain’s Economic Recovery Plan.
Charlotte Leslie pointed out that the GCC countries have embarked on a series of very ambitious reform agendas aimed at finding sustainable solutions to the region's long-term goals, noting that they are investing in creating a more stable and peaceful region while establishing a tangible competitive advantage in the region's industries, such as space exploration, smart cities, renewable energy and artificial intelligence.
The event, hosted by the Bahraini Embassy, was attended by a great number of participants at the ruling Conservative Party Conference, in which areas that the UK and the GCC can strengthen their cooperation, in addition to opportunities and challenges in the region, were discussed.
Source: Bahrain News Agency