Following the First World War, the victorious powers planned to create an independent Kurdish state. However, due to both Turkish objections and Kurdish infighting, these plans were scrapped at the 1923 Treaty of Lausanne. Kurdish areas were instead divided among Turkey, Iraq, Syria and Iran.
Almost a century later, we may be witnessing the birth of an independent Kurdistan, albeit in a fraction of majority-Kurdish areas. Kurds cannot have everything they want, but they are on the brink of a real state. And the countries traditionally most hostile to this are suddenly its main facilitators. This is not only counterintuitive. Until recently, it would have been unimaginable.
The ironies are almost overwhelming. Turkey is already serving as the guarantor of de facto Kurdish independence in Iraq, and, increasingly, in a fragmenting Syria. And Iraq has become the most probable midwife of a fully independent Kurdish state.
The process began with the ousting of Iraqi forces from Kuwait in 1991 and the imposition of a "no-fly zone" above the 36th parallel in Iraq. This gave the Kurds an unprecedented degree of autonomy. They put aside long-standing differences, after a bitter squabble between the Kurdistan Democratic Party (KDP) and their rivals, the Patriotic Union of Kurdistan (PUK), from 1994-1998.
By the time of the American invasion of Iraq in 2003, the Kurds were ready to establish a quasi-independent area – the Kurdistan Regional Government (KRG) – solidified by a KDP-PUK unification in 2006, mediated by, of all countries, Turkey.
Following the establishment of the de facto independent Kurdish area in 1991, the Turks were faced with a conundrum: to treat this as a hostile entity that could undermine its control of Kurdish parts of eastern Anatolia, or to attempt to build such strong relations with it that Iraqi Kurds would have no incentive to promote rebellion in Kurdish areas of Turkey.
Finding the Kurds receptive, Turkey decided to build an alliance with the KRG. Trade and other relations flourished. By 2008, Turkey had become one of the closest allies of the KRG. And as Ankara's relationship with Baghdad steadily deteriorates, its relationship with Erbil only intensifies.
Turkey was confronted with a similar conundrum when Kurdish groups – including its longtime nemesis, the Kurdistan Workers' Party (PKK) – united to form the "Western Kurdistan Autonomous Region" in northern Syria under the tutelage of KRG President Massoud Barzani.
Kurdish groups in northern Syria have been successful in fending off challenges from jihadists and others who seek to use these same territories for their own purposes. They are, in effect, building an annexe to the KRG in Syria. Both fractured countries will, therefore, produce Kurdish areas that will be, at the least, virtually independent.
Concomitant with this development, a "peace process" was initiated between the PKK and Turkey. The PKK agreed to withdraw its fighters into KRG territory and cease hostilities. Such an agreement is essential for convincing Turkey to regard the Kurdish entity in Syria as tolerable, but this process is now in some peril.
PKK leaders complain Turkish officials are not living up to promises to respect Kurdish minority rights. The PKK has recently suspended the withdrawal of their forces, but have not resumed hostilities.
It is likely, however, that a workable agreement will eventually hold, preventing Turkey from viewing the Syrian Kurdish entity as a threat challenging its rule in Kurdish areas of Turkey.
Even more remarkable than Turkey's about-face regarding virtual Kurdish independence in Iraq and Syria is the growing sentiment in Baghdad in favour of full Kurdish independence.
Iraqi prime minister Nouri Al Maliki and his allies have tacitly, and occasionally overtly, endorsed this for three main reasons. First, they believe they can more easily control a state which is simply Arab and has a clearer Shiite majority. Second, they see an independent Kurdish state as a buffer with an increasingly hostile Turkey. Third, in their view, approximately $17 billion of oil revenue from the Shiite south gets transferred every year to the KRG without reciprocal benefits.
The disputed city of Kirkuk and some other sensitive issues would have to be negotiated, but, despite Iranian objections, there seems to be genuine interest in Baghdad for Kurdish independence.
Several remaining potential roadblocks must be overcome. Turkey may ultimately find these developments, particularly a PKK-dominated mini-state in northern Syria, simply too threatening. PKK leader Abdullah Öcalan may prove too recalcitrant to finalise a deal with Turkey, or the chauvinistic Turkish AKP government with him. And there could be another crippling intra-Kurdish power struggle, for example between Mr Öcalan and Mr Barzani.
But the stage now seems set for the KRG to continue to consolidate its de facto independence, and expand its influence into an analogous area in northern Syria. This would create a de facto independent Kurdish state for the first time in modern history. However, in order to survive, any de facto or de jure independent Kurdish entity must ensure that it is not seen as posing a direct threat to Turkish rule in Kurdish-majority areas of Turkey for the foreseeable future.
Assuming Turkish anxieties are assuaged, Syria continues to fragment, and the Iraqi Shiite majority remains willing to part ways, then, at long last, the establishment of a fully independent Kurdish state is merely a matter of time.
Hussein Ibish is a senior fellow at the American Task Force on Palestine in Washington, DC
On Twitter @ibishblog
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Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
Match info
Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')
West Ham United 0
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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if you go
The flights
Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com
Seeing the games
Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com
Staying there
Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
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The five pillars of Islam
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity