The Gulf Research Center Gulf-Africa Strategy Forum
As part of the overall expansion of The Gulf-Africa Research Program at the Gulf Research Center (GRC), the Center organizes a conference in Cape Town, South Africa on the 24th and 25th of February 2009 with the support of its Platinum Sponsor, Best Asset Class and its Gold Sponsor, KAB Holding ltd.
The first-ever held Gulf-Africa Strategy Forum which is titled this year “The Gulf and Africa: Developing a new Strategic Partnership” aims to cement the Gulf-Africa relationship by offering an in-depth assessment of the status of ties and a clear outlook to where the relationship could be heading.
While the financial storm is roaring outside, the Gulf States and Africa economies will continue to fare relatively well. Indeed, although the Gulf States have experienced capital loss in absolute terms, relatively speaking, they continue to prosper and will look at diversifying their assets. According to the IMF, oil income should continue to insulate the Gulf from the worst of the storm as they still have a sufficient cash buffer in this region. Africa’s economic growth has also been weakened but not as badly as other more integrated markets. The IMF only announced a slowdown from 6 percent growth rate to 3 to 4 per cent. Recession is not in the books as Africa as a whole will continue to grow.
Time has come for both regions to come closer together again. Much is to be gained by a multi-level economic relationship supported by a strong political will to maintain a sustainable, mutually beneficial relationship. Demographic pressure, energy and food security, fluctuating sustained economic growth and unemployment are challenges which will shortly be faced by both regions. The answer to some of these issues lies in the advantages both blocks have to offer.
However, a knowledge vacuum exists; both have much to learn about each others. This conference, the first of its kind, aims at filling this gap and guiding this nascent relationship with unlimited potential. The innovative set up of this conference which will combine plenary sessions with specialized workshops will allow for new ideas to be formulated and policy recommendation as well as concrete projects to be designed. Finally, the success of the conference will be ensured thanks to a number of prestigious confirmations of senior dignitaries.
For more information please visit our website: www.grcevent.net/gulfafrica
