Samaher Saif Al Yazal
The Bab Bahrain Forum 2025, organized by the Bahrain Chamber of Commerce and Industry, discussed many economic and commercial issues regionally and internationally, as it raised the issue of the impact of customs duties recently imposed by the United States of America, and the fear of the outbreak of a global trade war, as well as questions about the position of the US dollar in international trade, in addition to reviewing the opportunities available to Bahrain’s economies and the countries of the Cooperation Council in dealing with these challenges.
A session was held on the sidelines of the forum entitled: “Dealing with the economic transformation .. the importance of developing digital infrastructure in the face of modern economic transformations” with the participation of the Minister of Communications and Communications, Dr. Sheikh Abdullah bin Ahmed Al Khalifa, Minister of Industry and Trade Abdullah Fakhro, the Secretary -General of the Gulf Cooperation Council states Jassem Al -Badawi, in addition to the Director General of the World Trade Organization, Najosi Okunjo Iyalia, and the Director General of the International Labor Organization and Gilbert Hongoo.
Participants stressed that economic diversity is one of the main factors that characterize the Gulf region, and that through which global economic changes can be confronted, noting the importance of continuing bilateral negotiations between the United States and China to avoid global trade escalation.
The Minister of Communications and Communications, Dr. Sheikh Abdullah bin Ahmed Al Khalifa, that cooperation between the Gulf states will contribute to ensuring sustainability and progress for economic fields in various components, indicating that all Gulf countries complete each other in this field.
He pointed out that Bahrain has advanced logistical capabilities, as it provides an advanced infrastructure that supports this vital sector, considering that the Kingdom is the main arrival point for the countries of the Cooperation Council.
With regard to the impact of American drawings on Bahrain’s exports of aluminum, the minister explained that Alba is supplying 18% of its sales to the American market, indicating that the company has a strong reputation among its customers who appreciate its flexibility and the long partnerships that bring them together.
For his part, the Minister of Industry and Trade Abdullah Fakhro stressed that the relations between Bahrain and the United States of America have durability and continuity, indicating that there is a continuous openness in dialogue with the United States on recent customs duties.
He added that Bahrain is an open platform for trade, and always welcomes consultation and cooperation with America in this field.
On the future of the US dollar in international trade, he said: It is excluded that the dollar will witness any real threats from other currencies, “stressing that the green currency will continue to dominate global trade.
On the sales of Alba Company, Fakhro indicated Bahrain’s keenness to expand the base of importing countries, stressing the importance of strengthening the network of importers within the countries of the Cooperation Council to ensure the continuity of diversity in the targeted markets.
For his part, the Secretary -General of the Cooperation Council for the Arab States of the Gulf, Jassem Al -Badawi, stated that the Gulf states have successful economic policies that contributed to building solid economic foundations, indicating that Bahrain and the rest of the GCC countries have the economic flexibility that enables them to face the challenges resulting from global economic changes.
He explained that the Gulf states are considered present and a promising economic future, as the International Monetary Fund report pointed to the positive performance of the countries of the Council through their various development programs and the high rates of economic growth in the region, pointing out that the challenges faced by the global economy, such as economic recession, constitute real threats, but the Gulf states have managed to overcome many global economic and financial crises thanks to their economic flexibility.
Al -Badawi added that the economic policies pursued by the Gulf states, especially in organizing their trade relations with the countries of the world, are proud, noting that there are continuous Gulf consultations with the United States and China, stressing the keenness of the GCC countries to enhance their economic relations with both China and the United States at the same time.
Al -Badawi revealed the signing of a free trade agreement with New Zealand, in addition to signing agreements with South Korea, and a partial signature with China, referring to the economic shift in the Gulf states, as it focuses on competitiveness and continuous research on the best ways to reach global markets.
