Trump talks business on GCC tour
The Gulf Cooperation Council (GCC) region concluded an eventful week as Saudi Arabia, Qatar, and the UAE hosted President Trump on his first major foreign trip since re-assuming office, underscoring an enduring strategic partnership.
In the context of heightened global trade tensions, trade and investment deals took centre stage. As indicated in White House fact sheets, Trump mobilised just over $1trn of investments for the US, spanning several industries including civil engineering and defence. Although there is a lot of uncertainty over specifics, the announcements mark significant investment, consistent with the region’s growth and diversification plans.
During his visit to Saudi Arabia, Trump secured a $600bn investment pledge (initially hinted in January), short of the $1trn he aimed for, but he came away with the largest arms deal in history valued at $142bn along with numerous energy and mineral agreements.
El-Khatib visits UAE
Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib has embarked on a visit to the UAE aimed at strengthening economic relations between the two countries in various fields and at all levels, as per a statemnt.
El-Khatib is scheduled to meet with Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, to review developments in the negotiations related to the strategic partnership agreement between both nations.
He will also meet with Patrick Chalhoub, the Executive Chairman of Chalhoub Group, to explore investment opportunities in the Egyptian market.
Additionally, El-Khatib will participate in the Emerging Markets Intelligence & Research (EMIR) Center conference.
Moreover, he will meet Mahmood Alhay Alhameli, CEO of GAL, to explore areas of cooperation in key sectors, including aviation, cargo, maintenance, training, and air transport services. This aims to meet the needs of the local market as well as expand into African markets.
Hamdan: National industrial sector core pillar of UAE economy
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, visited the fourth edition of “Make it in The Emirates 2025” Forum, taking place at the Abu Dhabi National Exhibition Centre, from May 19th to 22.
The Forum highlights the UAE’s advanced industrial capabilities and innovations, and its emergence as a global manufacturing hub, bringing together industry leaders, government entities, and innovators.
On the occasion, Sheikh Hamdan said that the national industrial sector is a fundamental pillar of the UAE economy and a key driver advancing its vision for greater diversification and innovation.
He noted that the “Make it in The Emirates 2025” Forum reflects the UAE’s commitment to building a competitive, technology-driven industrial base led by skilled national talent.
Sheikh Hamdan added that guided by the visionary leadership of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and the guidance of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the UAE is pursuing ambitious goals to increase the industrial sector’s share of GDP, enhance exports, and draw high-quality investments.
How the festival fuels economic growth across the GCC and globally: Eid al-Adha 2025
Eid al-Adha, also known as the “Festival of Sacrifice,” is one of the most significant religious holidays in the Islamic calendar. Its economic footprint extends far beyond spiritual observance, influencing markets, trade, tourism, and various sectors across the GCC (Gulf Cooperation Council) and the world. We explore in this article the multifaceted economic impact of Eid al-Adha, drawing on recent trends, key statistics, and regional insights.
AI expected to contribute $260bn
Artificial Intelligence is expected to contribute around $320 billion to the Middle East’s Gross Domestic Product (GDP) by 2030, with the Gulf Cooperation Council countries accounting for nearly 80 percent of that impact, translating to approximately $260 billion, according to a latest report by global accounting firm PriceWaterhouseCoopers (PwC).
The Gulf Cooperation Council (GCC) countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—are at a critical inflection point. As these oil-rich nations pursue economic diversification and digital transformation, Artificial Intelligence (AI) is emerging as a central pillar of their strategic vision.
“AI represents a transformative force for GCC economies, with the potential to generate over $260 billion in annual economic value by 2030. Beyond the dollar figures, AI offers a strategic pathway for the region to reduce dependency on hydrocarbons, boost productivity, and lead in the Fourth Industrial Revolution,” it said.
In 2023, US-GCC trade reaches $93.6bln
Trade between the countries of the Gulf Cooperation Council (GCC) and the United States of America amounted to $93.6 billion in 2023, according to recent data published by the GCC Statistical Center.
This figure represents a slight decrease of $1.16 percent ($1.1 billion), in comparison to 2022’s total of $94.7 billion.
GCC exports to the US decreased by 19.8 percent ($8.9 billion) to $36.1 billion in 2023, versus $45.0 billion in the previous year. Petroleum and hydrocarbon products, totaling $16.2 billion in value, represented a 44.9 percent share. This was followed by miscellaneous items (26.6 percent of exports) valued at $9.6 billion.
GCC approves unified academic accreditation rules
The GCC (Gulf Cooperation Council) education ministers have approved unified guidelines on accrediting academic degrees in the six nations at a meeting held in Kuwait.
Kuwaiti Minister of Education Jalal Al Tabtabai said the ministers had approved several joint initiatives during the meeting this week, including a unified guide to the care of gifted and disabled students, and the creation of a joint research database.