Davos: His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, Chairman of the Board of Trustees of the Isa bin Salman Education Charitable Trust and Chairman of the Board of Directors of the Labour Fund (Tamkeen), attended the 'Economic Diversification and Its Impact on Sustainability: The Role of the Gulf Cooperation Council Countries in Global Economic Growth' session on January 23, 2025, at the World Economic Forum (WEF) 55th Annual Meetings.
According to Bahrain News Agency, the session, organised by the General Secretariat of the Gulf Cooperation Council countries, saw the participation of His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, alongside other GCC Ministers of Finance. HH Shaikh Isa bin Salman affirmed the role of GCC countries in driving economic growth, emphasising their economic and developmental visions that have positioned them at the forefront of global economic progress. He highlighted the region's competitive environment as a driver for sectoral growth and sustainable development.
HH Shaikh Isa bin Salman stressed the importance of fostering joint cooperation and economic integration, noting how these efforts help achieve the Kingdom's comprehensive development goals in alignment with GCC leaders' visions. He underscored the significance of international conferences, like the World Economic Forum, in addressing global challenges, fostering knowledge exchange, and sharing best practices to promote sustainable economic growth.
During the session, HE Shaikh Salman bin Khalifa Al Khalifa emphasised the importance of adopting innovative policies and strategies that align with climate objectives and development priorities. He highlighted the region's commitment to strengthening Gulf unity and promoting economic diversification across vital sectors to achieve sustainable growth in line with the Kingdom's aspirations.
HE Shaikh Salman bin Khalifa also noted the strategic advantages of the GCC's geographic location, which positions it as a significant investment and trade hub, being Asia's sixth-largest trading partner and the EU's second-largest. The session addressed several key issues, including GCC nations' global economic achievements, innovative responses to challenges, and sustainable development commitments.
The discussion also covered the GCC's economic and development policies to integrate economic, environmental, and social objectives for long-term sustainability. Additionally, technological innovation was highlighted as a driver of economic reform and diversification, particularly in emerging industries. Finally, the session explored ways to enhance international partnerships to drive economic growth, attract investments, and promote competitive business climates.