Gulf nations must transform regional security and supply chain challenges into a springboard for long-term economic integration, leaders and policymakers urged at the opening of the inaugural Made in GCC Forum and Exhibition.
Addressing the landmark event at Exhibition World Bahrain, Industry and Commerce Minister Abdulla bin Adel Fakhro called for shifting focus from isolated national industries to integrated Gulf value chains.
“The true test of nations lies not only in their ability to overcome crises, but also in their capacity to transform challenges into opportunities and difficult circumstances into a catalyst for development,” Mr Fakhro said.
Highlighting the region’s $2.4 trillion economy and $146 billion in intra-GCC trade, he pointed to a major opportunity in replacing the $600bn worth of goods imported annually.
“How many of the simple products, components and materials we import today could we manufacture here in the Gulf?” he asked delegates. “We manufacture in the Gulf, and from the Gulf, we manufacture for the world, hand-in-hand.”
GCC Secretary-General Jasem Al Budaiwi revealed that the bloc’s manufacturing sector already boasts more than 22,000 factories employing 1.1 million people, accounting for 13 per cent of regional GDP.
“When our industrial capabilities are integrated and our policies are unified, we can achieve what no single country can achieve on its own,” Mr Al Budaiwi stressed, highlighting achievements such as unified industrial laws and shared investment strategies.
Demonstrating the power of diversification, Mr Fakhro noted during a ministerial panel that manufacturing has surpassed oil and gas as Bahrain’s second-largest GDP contributor.
Panelists highlighted key drivers for future growth, including regional cargo rail networks, digital trade approvals and mutual recognition of In-Country Value (ICV) programmes.
“Localisation gives you more resilience and self-sufficiency, especially during different global events,” added Qatar’s Minister of State for Foreign Trade Affairs Dr Ahmed Al Sayed.
Looking beyond regional borders, Gemma Stevenson, UK Trade Commissioner for the Middle East and Pakistan, noted that the upcoming UK-GCC Free Trade Agreement is projected to boost trade by 20 per cent.
avinash@gdnmedia.bh
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