5 Top Points
- The UAE President met with the US President in the White House to expand strategic partnership.
- Canada and Qatar finalise agreements on youth empowerment and the treatment of evacuated Palestinians.
- The ministerial Committee on Gaza held a meeting in New York in a coordination effort for the 79th session of the UN General Assembly.
- The GCC’s Secretary-General meets with the Iranian Minister of Foreign Affairs in New York.
- Bahrain approved the licence of Crypto.Com in servicing its banking system.
‘Round and About the Gulf
Kingdom of Bahrain
Thursday, 19 September—The Central Bank of Bahrain (CBB) approved the license of Crypto.Com to provide e-money services, fiat-based payments, and the launch of prepaid cards. The Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board, Noor bint Ali Al-Khulaif noted that Crypto.Com would strengthen Bahrain’s vision of creating a resilient economy on innovation, progress, and digitalization as Bahrain is pioneering digital asset regulation within the GCC.
State of Kuwait
Sunday, 22 September—The Kuwait National Petroleum Company (KNPC) aims at strengthening Kuwait’s hydrocarbon assets, promoting natural gas production, providing job
opportunities, and maintaining clean energy initiative through The Fifth Liquefied Petroleum Gas (LPG) Train project. This project cost around KD 428 million (USD 1.39 billion) with 29.7 percent coming from the private sector. This comes in agreement with Kuwait National Petroleum Company (KNPC) 2040 strategy to provide 181 retail gas stations that are equipped to produce electrical energy through renewable and alternative energy.
Sultanate of Oman
Saturday, 21 September—The Research and Innovation Lab Tamkeen initiated its programme in promoting domestic development through research and innovation. This programme will last until 3 October 2024 as it is meant to identify key issues and propose solutions. It aims to meet Oman’s Vision 2040 which is to place Oman among the top twenty countries in the Global Innovation Index.
Saturday, 21 September—The Financial Services Authority (FSA) of Oman approved the prospectus of OQ Exploration and Production Company, which is an affiliate of the Oman Investment Authority (OIA). The company is undergoing a transition into a public stock company which will provide investment opportunities in oil and gas exploration and production for investors. This comes as the country looks to meet its objectives of the Oman Vision 2040 that intend to attract foreign and national investments.
State of Qatar
Wednesday, 18 September—Qatar’s National Cyber Security Agency launches the National Cyber Security Strategy 2024-2030 which aims to address emerging digital challenges and enhance international cooperation to combat cyber threats. The Security Strategy focuses on protection of critical infrastructure, legislation and governance models, spurring investments into the electronics industry, fostering a qualified cyber workforce, and engaging in cyber diplomacy.
Kingdom of Saudi Arabia
Monday, 23 September—The Kingdom of Saudi Arabia has the largest tourism growth among G20 countries, according to the latest UN Tourism Barometer, as the number of tourist arrivals has increased by 73% compared to 2019. Saudi Arabia’s efforts to attract tourism is central to the diversification of its economy as set out in the Vision 2030.
United Arab Emirates
Tuesday, 24 September—Emirati state-owned renewable energy company Masdar announced a proposed acquisition of Saeta Yield from Canadian Brookfield Renewable. The deal values Saeta Yield at $1,4bn and is set to be finalised by the end of 2024. The transaction consists of a portfolio of 745 megawatts (MW) of predominantly wind assets in Spain and Portugal as well as a 1,6 gigawatt (GW) development pipeline.
EU Corner
Wednesday, 18 September—Managing Director for the Middle East and North Africa at EEAS, Hélène Le Gal, hosted a meeting in Brussels with GCC ambassadors on the preparations for the upcoming GCC-EU Summit to be held in Brussels on 16 October.
Monday, 23 September—The Ambassador of the European Union to Saudi Arabia, Bahrain, and Oman, Christophe Farnaud congratulated Saudi Arabia’s King Salman bin Abdulaziz Al-Saud, Saudi Crown Prince and Prime Minister, Mohammed bin Salman Al-Saud, and the people of Saudi Arabia for the 94th Saudi National Day. Christophe Farnaud highlights the increasing partnership between Saudi Arabia and the EU in working towards a dynamic and thriving future.
Key Official Visits & Contacts
Thursday, 19 September—Qatar’s Emir, Tamim Bin Hamad bin Khalifa Al-Thani, wraps up a meeting with Canadian Prime Minister, Justin Trudaeu, in Ottawa, Canada. Besides discussions on how to strengthen the two countries’ cooperation in the political, commercial, and economic fields. Qatar’s visit also resulted in two bilateral agreements. The agreements involve pledging money to youth empowerment across more than 60 developing countries and committing to provide medical and psychological treatment to Palestinians evacuated to Doha from the Gaza Strip.
Thursday, 19 September—Bahrain’s Minister of Foreign Affairs, Abdullatif bin Rashid Al- Zayani, met with the UK Parliamentary Under-Secretary of State for Middle East and North Africa, Hamish Falconer, to discuss avenues towards bilateral cooperation and the regional developments in Gaza, including securing a ceasefire resolution, releasing hostages, humanitarian aid, and protecting civilians.
Saturday, 21 September—Secretary-General of the GCC, Jasem Al-Budaiwi, and Iran’s Minister of Foreign Affairs, Abbas Araghchi, met on the sidelines of the 79th session of the UN General Assembly in New York. They discussed pathways to enhance cooperation and emphasised the importance of recent international developments while reaffirming their shared commitment to fostering security and stability in the region.
Sunday, 22 September—The Ministerial Committee assigned by the Joint Arab-Islamic Summit met in New York to discuss ways to support initiatives in recognizing the Palestinian state based upon the 4 June 1967 borders. This meeting was chaired by the Minister of Foreign Affairs of Saudi Arabia, and attended by the Foreign Ministers of Palestine, Jordan, Egypt, Bahrain, Türkiye, Indonesia, Qatar, the Secretary-General of the League of Arab States, and the Secretary- General of the Organization of Islamic Cooperation. This comes as a coordination effort for the 79th session of the United Nations General Assembly.
Monday, 23 September—UAE President, Mohamed bin Zayed Al-Nahyan, met US President, Joe Biden, at the White House to discuss ways to expand the strategic partnership between the two countries in the fields of trade and investment, economy, technology, artificial intelligence, space, energy, and climate action.
Tuesday, 24 September—UAE and Bahrain officials, most notably UAE President, Mohamed bin Zayed Al-Nahyan, and Crown Prince and Prime Minister of Bahrain, Salman bin Hamad Al-Khalifa, met in New York to discuss ways to enhance the cooperation of the two countries.