Gulf Chambers Federation: Rising Trade Tensions Deepens the Challenges of the Private Sector
The Federation of Chambers of the Gulf Cooperation Council states in a recent economic report highlighted the escalating repercussions of commercial conflicts between the United States and China, stressing that these developments are directly reflected on the region’s economies, especially on the Gulf private sector, which depends significantly on industrial inputs and technologies imported from the two struggling economic powers. The report that continued commercial tensions may weaken the ability of Gulf companies to compete, hinder the ambitious economic transformation plans in the region, calling for the reshaping of the import and production system, and the construction of more flexible supply chains and self -sufficiency. The most prominent of them:
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The diversification of commercial partners to reduce dependence on volatile markets. The growing. The volume of trade exchange between the Gulf and China countries reached about 287 billion dollars, while with ASEAN countries reached 122 billion dollars, which reflects the great capabilities to build long -term economic partnerships in Asia. Economic decisions.
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