Ras Al Khaimah 'very optimistic' about Arab growth prospects

29/09/2010 - Ras Al Khaimah Property News
Ras Al Khaimah 'very optimistic' about Arab growth prospects

Posted by Bob Brunskill

The economic outlook for Arab nations over the coming three years is "very optimistic", the crown prince and deputy ruler of Ras Al Khaimah has said.

Sheikh Saud Bin Saqr Al Qasimi argued that in "the post-financial crisis world order", Asia has become much more relevant to the global economy.

He made the comments during the opening plenary session of the Global Arab Business Meeting held at the Al Hamra Convention Centre in Ras Al Khaimah.

"The inter-trade within Asia has become an engine for growth more than ever before and Asian countries now clock higher growth rates than European countries and the USA," said Sheikh Saud. "The fundamentals of doing business in our region, which is next to or part of Asia and strategically located next to Europe, are strong."

He added that the global demand for oil and gas, the maturity of the Gulf states, the massive government investments in education and infrastructure and the young population of countries are all factors that bode well for long-term growth in the Arab region.

The Global Arab Business Meeting, which has brought together more than 300 CEOs, has been organised by Horasis: The Global Visions Community and is co-hosted by the RAK Investment Authority.
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