Sunday 23rd October 2011, students of elite class in HCT went to Emirates Palace Hotel, Abu Dhabi with Dr. Hedley to attend the GCC Economic & Financial Integration Forum (Opportunities & Challenges) in the morning. We registered and listened to the presentation.
Dr. Jassim Al Mannai, Director General of the Arab Monetary Fund was concerned with economic and financial integration and international experiences.
Dr. Abdul Aziz Aluwaisheg, was the first speaker. He is the Director General International Economic Relations GCC Secretariat. Mainly he talked about the historical developments and an agreement made last year by GCC countries in the pursuit of trade liberalization and lower tariffs.
The second speaker was Lukas Stemitsiotis, Head of Unit in the European Commission, EU. He talked about the problems and challenges facing the Euro region. In recent days, the problem which is facing Greece is they can’t repay their debts. And they are trying to find the solution for that problem.
Dr Aladdin Rillo is the Director and Chief Economist ASEAN Integration Monitoring Office. He said that the architects and engineers have mutual status in ASEAN and the difference between AEEAN and EU and the GCC that is that 50% of the domestic production in ASEAN is the services sector. The point of ASEAN was integration of capital markets. The hard thing was the developed countries like Singapore and Brunei can’t share a currency with undeveloped countries like Cambodia and Laos. Also he stressed the importance of justice in the communication and economic development.
By the end of this conference they let the audience ask questions that related to this conference. Moreover they gave us certificates of appreciation for attending that conference.
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