Yesterday’s summit between the European Union and the Gulf Co-operation Council in Brussels was a milestone moment during which leaders from the 27 EU and six GCC countries came together for the first time. But this historic meeting took place amid a backdrop of international turmoil that both regional organisations are sadly familiar with.
Established in Riyadh on February 4, 1981, the GCC was born into a volatile Middle East. The Iran-Iraq War started less than six months earlier. Eight months later, Egyptian president Anwar Sadat would be assassinated and in the following year Israeli forces invaded southern Lebanon. It is little surprise then that the 2024 iteration of conflict in the Levant dominated the EU-GCC summit’s agenda.
In the EU, the GCC has a valuable partner that understands the need to pursue regional peace, making such meetings particularly valuable. Like the GCC, the EU also came about in a time of conflict. As the November 1993 Maastricht Treaty replaced the European Economic Community with the new European Union, the disintegration of Yugoslavia had already led to the continent’s worst armed conflict since the end of the Second World War. That devastating war in the Balkans has been replaced by the instability unleashed by the war in Ukraine.
Both sides meeting in Brussels therefore understand the pressing need for diplomatic solutions to violent conflict while maintaining security. A draft version of a final communique circulating in Brussels yesterday reflected this, stating that the blocs would “actively explore and seek enhanced co-operation on security through the definition and implementation of joint priorities and co-operation initiatives on security”. Another joint meeting could take place in Riyadh next January.
The organisations’ continued diplomatic partnership is vital, particularly at a time when the US is largely focusing on its coming election. It is a partnership that goes back years – a co-operation agreement signed in 1989 established the EU-GCC Joint Council that provides a forum for dialogue on energy, climate change and economic ties, among other issues. The GCC and the EU are also unequivocal in their agreement that a two-state solution to the Palestine-Israel conflict is essential, and many European states have recognised Palestinian statehood.
The EU is the GCC countries’ second-largest trade partner, generating €170 billion ($185 billion) in trade last year
But solid economic, energy and trade relations buttress this political consensus. The EU is the GCC countries’ second-largest trade partner, generating €170 billion ($185 billion) in trade last year. In 2023, imports of mineral fuels accounted for more than 75 per cent of EU imports from GCC countries. Hundreds of thousands of Europeans live and work in the Gulf, and in May an EU decision to harmonise Schengen visa rules for GCC citizens seems likely to encourage more Gulf students, entrepreneurs and tourists to visit the continent.
The challenges that face the Middle East, Europe and the wider world are too immense and complex to be tackled by any one nation acting alone. Taken together, the GCC and EU represent 33 nations; the collective political, diplomatic and economic influence they can exert by working together is considerable. Yesterday was a good step forward on the road towards a level of co-operation that can not only weather the storm of current events but can calm them too.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Company%20profile
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
MATCH INFO
Wales 1 (Bale 45 3')
Croatia 1 (Vlasic 09')
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
UAE currency: the story behind the money in your pockets
PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland