The EIU’s report analyses how the Arabian Gulf countries are shifting their trade and investment emphasis to emerging markets, especially in Asia.
- Emerging markets will drive global growth in the years ahead.
- The emergence of India and China and the growing economic importance of sub-Saharan Africa present massive opportunities for the GCC.
- Asia will be the most important emerging-market region for the GCC.
- China is expected to be the GCC’s most important economic partner by 2020.
- Trade with Africa will focus on agriculture.
- Most GCC investments in emerging markets will focus on tried and tested areas of competitive strength, chiefly energy and services industries such as port operations, tourism, retail, financial services (especially sharia-compliant finance) and telecoms.
- In Asia and some parts of the Middle East, GCC countries will invest heavily in infrastructure.
- While the opportunities are significant, the rise of new economic powers also means new competition.