This image will be automatically disabled when it gets reported by several people.
Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs: The World We Live in Is Changing Faster than Ever Leading to the Emergence of New Patterns of Economic Relations 10 Riyadh
2008 average of 240.8 billion US dollars. In terms of food alone, aggregate spending on food imports is to double from its current level, reaching 53.1 billion US dollars by 2020. GCC's greater integration into the global economic system through trade, investment, and financial links, has allowed the region to play a key role in the rebalancing of the global economy. Higher export earnings mean more spending on foreign goods and services, more investment in foreign assets, and more investment in our domestic economies, which will provide massive opportunities for foreign investors and international partners. GCC is also politically and economically essential for the rest of the Middle East. Over the last few years, the GCC has played a major role in preserving the security and stability of the region. At times when Western governments are imposing austerity measures and reconfiguring their foreign policies, leaving a huge vacuum in the region in the process, the GCC has intensified its political initiatives and increased its economic assistance and financial support for their ailing strategic partners in the region. Such economic and political support has helped these countries relieve some of their immediate financial pressures and preserve their political and social security. GCC governments are conscious of the limitations and the challenges ahead and recognize that any successful effort to stabilize the region should be part of a wider international cooperation. But without the GCC support, the political situation could have been much worse. --More 20:11 LOCAL TIME 17:11 GMT تغريد