RIYADH: The Gulf Cooperation Council’s (GCC) Chambers of Commerce Union’s Secretariat and the Council of Saudi Chambers (CSC) are organizing the 2nd edition of the Gulf Economic Forum (GEF), under the patronage of Saudi Minister of Commerce and Investment Majid bin Abdullah Al-Qassabi.
The event will be held in Riyadh on Oct. 21-22, with a broad participation of government officials, business owners and economy leaders from the Gulf states.
Mohammed Thani Murshed Al-Rumaithi, chairman of the GCC Chambers of Commerce Union, said: “The Gulf Economic Forum comes in the context of the efforts exerted by the GCC countries’ governments and their private sectors to strengthen economic cooperation.
“A large number of high-level Gulf ministers and officials in the sectors of investment, customs, capital markets, trade and another economic field will take part in the forum. This will boost the forum’s activities and help deliver effective decisions and recommendations that support the joint Gulf economy.
“The GCC leaders’ keenness to involve the Gulf private sector in relevant laws and decisions is of great value. This support and political will should be invested in the development of the business environment in the Gulf countries.”
Dr. Sami bin Abdullah Al-Obaidi, chairman of the Council of Saudi Chambers, said: “The second Gulf Economic Forum is one of the important economic activities in the Gulf region. It discusses the activation of economic cooperation, the acceleration of the integration’s pace, the strengthening of the private sector’s role in the sustainable development process and allowing the Gulf business sector to increase its contribution to development projects.
“This forum will hopefully come up with strong and effective recommendations that will help overcome the main challenges facing the process of unity and economic integration in the Gulf.”
He also highlighted the importance of the topics to be discussed in the forum. “They include the Gulf Customs Union, which is the main pillar in the development of intra-GCC trade, cybersecurity, industrial cities, free trade zones, in addition to the logistics services sector and its significance in the GCC countries’ economies. Saudi Arabia relies a lot on the logistics services sector in the diversification of its sources of income, which come in line with its 2030 Vision.”
During the forum, a number of economic officials, experts and researchers from the Gulf will discuss six main subjects. The first session will take on the logistics services industry in each of the GCC countries and the role these services play in the development of the countries’ economies, while the second session will talk about the Gulf Customs Union’s progress, its achievements and the challenges facing its activation.
The third session will tackle the role trading plays in the logistics services in the GCC countries, in addition to the impact of value-added tax and the selective commodity tax on the growth of the trade sector in the Gulf.
The investment opportunities in the logistics services sector available in the GCC countries and their challenges will be the focus of the forum’s fourth session.
The forum will discuss the role of industrial cities and existing free trade zones and the support they are providing to the logistics services sector in its fifth session.
The sixth and last session will focus on the importance of quality, consumer protection, the improvement of trade exchange between the GCC countries and cybersecurity.
Gulf Economic Forum to boost economic integration in the region
Gulf Economic Forum to boost economic integration in the region
Saudi Arabia expected to be among top tourism destinations by 2030, minister says
DAVOS: Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb said tourism accommodation in the Kingdom was expected to double over the next 10 years.
Al-Khateeb said Saudi Arabia, which has about 400,000 guest rooms at the moment, was projected to double that number to 800,000 by 2030.
The minister reiterated Saudi Arabia’s goal to be part of the world’s top seven tourism destinations by 2030.
“Saudi looks at why people travel and what they are looking for and understand what people want and focus on convenience,” he said.
The Kingdom’s tourism industry is growing at a rapid rate with the creation of mega-projects such as NEOM, a futuristic city on the Red Sea, and The Red Sea Project, which focuses on luxury and eco-tourism, expected to redefine global tourism standards.
Additionally, cultural landmarks such as AlUla, with its ancient Nabatean heritage, and Diriyah, the birthplace of the Saudi state, are undergoing significant restoration to offer visitors unique historical and cultural experiences.
When asked about how the Kingdom manages this growth, the minister said that governance in the Kingdom ensured coordination and that growth was not too rapid.
“There is no such thing as ‘over-tourism,’ but there is mismanagement of resources,” he said.
“Governments are taking tourism for granted. In Saudi we have a minister for tourism and a minister for culture. Having separate ones allows full focus and dedication on goal achieving,” Al-Khateeb added.
European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas said Saudi Arabia was setting an example for the EU in managing tourism and developing a strong travel industry.
With technology advancing rapidly, Al-Khateeb said it was important to use new innovations smartly in the tourism sector.
“This is a people-to-people business. Yes, we should use technology for ease and convenience, but people interaction is an essential part of the experience,” he said.
Saudi Arabia sends new aid convoys for residents returning to northern Gaza
- The assistance is part of a campaign aimed at providing essential relief to the Palestinian people in the Gaza Strip
RIYADH: New aid convoys from Saudi Arabia have arrived in northern Gaza, facilitated by the Saudi aid agency KSrelief.
The assistance is part of a campaign aimed at providing essential relief to the Palestinian people in the Gaza Strip, the Saudi Press Agency reported recently.
The convoys delivered shelter kits, including blankets, mattresses, cooking utensils, water containers and other necessary supplies to assist residents returning to their homes in northern Gaza.
The Saudi Center for Culture and Heritage, the executive partner of KSrelief in Gaza, began distributing these aid packages promptly.
The aid aims to help beneficiaries meet their basic needs as they return to homes that have been destroyed or damaged, SPA reported.
The effort is part of a series of humanitarian and relief programs executed by Saudi Arabia in solidarity with the Palestinian people during their ongoing hardships.
Saudi Arabia’s FM announces landmark visit to Lebanon
- The one-day trip on Thursday will mark the first visit by a high-ranking Saudi official to Lebanon since 2015
- Prince Faisal bin Farhan welcomed the potential formation of a new government but emphasized the need for real reforms
DAVOS: Prince Faisal bin Farhan said on Tuesday in Davos he would visit Lebanon later this week, the first such trip by a Saudi foreign minister in more than a decade.
He made the announcement during a panel on diplomacy at the World Economic Forum’s annual meeting in the Swiss resort town.
The one-day trip on Thursday will mark the first visit by a high-ranking Saudi official to Lebanon since 2015, after years of strained relations due to Lebanon’s perceived alignment with Iran, its role in drug smuggling to Gulf countries, and ongoing instability.
Prince Faisal described the recent election of a president in Lebanon, following a prolonged political vacuum, as a highly positive development.
He said the Kingdom welcomed the potential formation of a government but emphasized the need for real reforms and a forward-looking approach to ensure sustainable progress.
He reiterated that the future of Lebanon rested in the hands of its people, urging them to make decisions that steer the country in a new direction.
“We will need to see real action, real reform and we will need to see a commitment to a Lebanon that is looking to the future, not to the past,” said Prince Faisal.
“And based on what I hear there and what we see, I think that will inform the Kingdom’s approach, but I have to say what I’ve seen so far and the conversations that we’ve been hearing in Lebanon, all allow me to be very much optimistic.
“We’ve always said, it’s really up to the Lebanese to decide and to make the choices to take Lebanon in a different direction.”
Prince Faisal also said he is “cautiously optimistic” about Syria’s future, citing encouraging signs from the new administration in Damascus and the resilience of the Syrian people.
He emphasized the need for patience and engagement from both the regional and international communities to help rebuild the country’s broken institutions and create a better future for Syrians.
“I would certainly say I’m cautiously optimistic. I may even lean further because you have, first of all, an administration that is saying the right things in private and in public, doing a lot of the right things, but also you have a Syrian people that are incredibly capable and incredibly resourceful,” he said.
He urged collaboration to build on recent positive developments, underlining the collective responsibility to aid Syria’s recovery, especially considering the willingness of the new administration in Damascus to engage constructively with regional and global partners.
“The reality is that they have inherited a broken country with no real institutions and they are having to build all of that from scratch, and that’s not an easy thing,” he said.
“So it’s up to us, I feel in the region first but certainly the international community, to engage, to come and build on this positive development and help Syria and the Syrian people see a much better future.”
Prince Faisal highlighted the importance of lifting the heavy burden of sanctions imposed due to actions of the previous regime, noting some progress with waivers from the US and Europe.
Prince Faisal was also positive about the region as a whole, including the Kingdom.
“We are certainly in a region that is abundant with risk factors, but we are also in a region that has huge potential,” he told the panel.
“I would say that even with the very difficult year behind us, we have shown that we can be resilient as a region and we can actually look to the future, whether it’s the Kingdom, or the GCC countries, and their ability to stay on track with their economic agendas,” he added.
He stressed the importance of avoiding conflict, particularly in light of tensions between Iran and Israel, and expressed optimism regarding the new US administration under President Donald Trump.
“I don’t see the incoming US administration as contributory to the risk of war. On the contrary, I think President Trump has been quite clear that he does not favor conflict,” he said.
“I hope that the approach will also be met on the Iranian side by the addressing of the nuclear program, by being willing to engage with the incoming administration in a way that can help us stay on track with this positive momentum.”
Also on the panel was Mohammed bin Abdulrahman bin Jassim Al-Thani, prime minister and foreign minister of Qatar, who expressed hope that the ceasefire in Gaza between Israel and Hamas would bring much needed relief to the Palestinian people.
“Let’s be hopeful (about the ceasefire). It’s still a long way to go with what happened throughout the last 15 months negotiating this very difficult conflict,” he said.
“It showed us that everything can be resolved through talks and through engagement, through negotiations, and we started this week with good news.
“We have seen the humanitarian aid coming in, we have seen hostages going back and we hope that this will be a fair system toward stability now.”
Saudi deputy minister meets newly appointed Bangladesh ambassador
- Al-Sati wished the ambassador success in his new role
RIYADH: Saudi Arabia’s Deputy Minister for Political Affairs Saud Al-Sati met with the newly-appointed Ambassador of Bangladesh to the Kingdom Delwar Hossain in Riyadh on Tuesday.
Al-Sati wished the ambassador success in his new role, the Foreign Ministry posted on X.
Meanwhile, Saudi Arabia’s Deputy Minister for International Multilateral Affairs Abdulrahman Al-Rassi received Ambassador of Ukraine to the Kingdom Anatolii Petrenko in Riyadh on Tuesday.
During the meeting they discussed bilateral relations and topics of common interest.
Saudi Shoura Council official receives Norwegian women’s rights ambassador
- The pair discussed bilateral cooperation and explored several topics of mutual interest
RIYADH: Hanan Al-Ahmadi, assistant speaker of the Saudi Shoura Council, emphasized the positive impact of the Kingdom’s reform agenda in a meeting with Sidsel Bleken, the Norwegian Ministry of Foreign Affairs’ ambassador for women’s rights, the Saudi Press Agency reported.
Al-Ahmadi, who provided an overview of the council’s legislative and oversight functions to the visiting diplomat, lauded the achievements of Saudi women across various sectors in the Kingdom.
The pair also discussed bilateral cooperation and explored several topics of mutual interest.
