FOR EUROPE, TIME IS RIPE FOR A GULF PIVOT

Rising US-EU tensions open new doors for deeper Gulf-Europe trade and investment

- BY IGNACIO SCHMÖLLING | Special to Gulf News

n March 2001, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, spoke at a symposium in Abu Dhabi titled “Political globalism and its impacts on Arabic countries”, calling for change, for governments to “overcome internal differences and begin an age of economic and social renaissance”.

This is an excerpt from his speech highlighted in his authorised biography: “We must not allow the frustrations that have plagued the Arab nation in the past to thwart efforts to secure a better future for coming generations”. He added: “The economic integration that has thus far eluded the Arab World is key to rapprochement and solidarity...” This approach advocating for setting aside differences to promote national interests - has played a key role in fostering closer ties between Gulf countries and the West.

It also now emerges as the seed of a relationship with Europe that may soon reach unprecedented levels, especially due to growing uncertainty and fragmentation between the United States and the European continent.