The 13th EU-GCC Economic Dialogue was held last Monday in Doha. Both sides discussed the key economic challenges, policy priorities, and regional and international risks related to security and stability.
It may be recalled that the first EU-GCC Economic Dialogue, hosted in 2003, was held within the framework of the two parties’ commitment to strengthening their cooperation. The dialogue discussed regional and international developments, especially addressing economic challenges and finding solutions to overcome them.
At the 13th meeting, both sides reviewed working papers on economic diversification policies and ways to boost trade and investment and sustainable green transformation. The participants included Assistant Undersecretary for Economic Affairs at the Ministry of Finance of Qatar, Dr Saud bin Abdullah Al Attiyah; GCC Assistant Secretary-General for Political Affairs and Negotiations, Dr Abdulaziz Aluwaisheg;Director of International Economic and Financial Relations and Global Governance (ECFIN), Annika Eriksgard; EU Ambassador to Qatar Dr Cristian Tudor; several experts and specialists from GCC General Secretariat, ministries, agencies, European Commission, and the European External Action Service.
EU Ambassador to Qatar HE Dr Cristian Tudor, while talking exclusively with Qatar Tribune, praised Qatar’s hosting of the 13th EU-GCC Economic Dialogue, considering these dialogues as “the appropriate way to promote strategic relations between the EU and the GCC states, and enhance cooperation between the two peoples”.
Dr Tudor said, “As the link between politics and economy has never been so intertwined, so strong, therefore, the dialogue between EU and GCC will solidify at the economic and macroeconomic level.”
Tudor added: “The main problem with geopolitics is that it is affecting the investment world and we see that economy, prosperity and everything is linked to stability. There is a lot of instability, a lot of volatility, and a lot of unknowns when you look at the world so the link between the EU and GCC is getting closer and closer; we have a lot of things to do.
“We have Russian aggression against Ukraine in Europe, in this region the war in Gaza and we have seen lately the risk of escalation. That’s why the EU from the beginning has been calling for a better world, for a truce, having called for a ceasefire.
“We are aligning ourselves very well with Qatar, with all our friends in the GCC. Therefore, this is an important occasion for the EU and GCC to exchange ideas, talk about the challenges that we are dealing with in Europe, and talk about the challenges that our friends in the GCC are dealing with. Our proximity, our policies on humanitarian, on aid, on the economy, we see a lot of interest growing in this region for what we call the twin digital and green transition,” he added.
The EU envoy to the State of Qatar said that the 13th EU-GCC dialogues has provided further opportunity to prepare for the upcoming first-ever summit in history taking place in Brussels on October 16 at the level of heads of state and governments between the EU and the GCC under the chairmanship of Qatar.
He said that before the October summit, there will be an event on EU-Qatar Food Security. A day will be dedicated to food security where the government and private sectors will join the academia to look into ways to create synergies.
Dr Tudor also informed that a significant event is scheduled for November this year, which will be marking a new era in EU-GCC relations, as well as individual ties between the EU and member states like Qatar, Kuwait, and Saudi Arabia. He noted that the relationship between the EU and the GCC has always been multifaceted, with diverse connections across regions.
On bilateral trade and investment, he emphasized the importance of recognizing the EU as a political and economic alliance comprising 27 member-states, including Bulgaria and Romania in the east, as well as central and western European nations. “As both regions strengthen their political and economic ties, new opportunities for mutual investments are emerging.”
He noted that the Gulf states are increasingly becoming attractive destinations for external investments, with many EU companies expressing interest in entering the GCC market. “This growing interest paves the way for collaborative projects, co-investments, and joint ventures.”
Dr Tudor highlighted the potential for identifying common ground and exploring opportunities for growth across various sectors, including business, investments, tourism, and education.
Talking to Qatar Tribune,Annika Eriksgard emphasized the significance of EU-GCC economic dialogue in light of rising global challenges, including trade fragmentation and geopolitical tensions from conflicts like Gaza and Ukraine. These issues, she pointed out, affect global growth, tourism, and energy availability.
She noted the need for coordinated solutions and appreciated the collaborative spirit of discussions during the 12th dialogue in Brussels in November 2022, highlighting opportunities for aligning the interests of both blocs in key areas.
In his opening remarks at the event, Dr Saud bin Abdullah Al Attiyah highlighted the significance of the 13th EU-GCC Economic Dialogue as a vital platform for enhancing cooperation and partnership in addressing shared economic challenges.
He emphasized the importance of achieving joint growth and exploring opportunities in key areas such as trade, investment, sustainable energy, and comprehensive development.
Dr Al Attiyah also articulated a common vision aimed at coordinating international and regional efforts for achieving a just and lasting peace. He mentioned Qatar’s efforts to contribute to peaceful resolutions of the Russian-Ukrainian crisis, advocating for an end to military operations, and the provision of humanitarian aid.
He said, “Qatar has made substantial financial and humanitarian contributions, including a $100 million pledge for infrastructure rehabilitation and support for education and health services. Additionally, Qatar has facilitated the reunification of Ukrainian children affected by the war with their families, underscoring its commitment to humanitarian values and international peace.”
Dr Abdulaziz Aluwaisheg said this series of dialogues dates back to 2003, noting its importance in terms of exchanging views on various international developments, discussing economic challenges in the GCC region and the EU, and benefiting from both sides’ experiences.
He hailed Qatar’s role in the region, “which holds the current GCC presidency, is experiencing an active economic movement, and is one of the countries that has maintained its economic growth, despite the existing challenges, and has a major role in seeking to reach a solution to the war in Gaza, and thus reduce its economic effects on the region”.
