Arab and international officials, as well as energy and finance experts, gathered in New York City at the MENA Forum to discuss the latest political and economic trends in the Middle East and North Africa (MENA) region. The forum, co-hosted by SRMG Think and the Middle East Institute, focused on unlocking the region’s potential for prosperity, security, and a sustainable global future.
Prominent officials from various Gulf and Arab nations participated in the forum, including Egyptian Minister of International Cooperation Rania Al-Mashat, Jordanian Deputy Prime Minister Ayman Safadi, UAE Minister for Climate Change and Environment Mariam Al-Mheiri, and Qatari Adviser to the Prime Minister and Foreign Minister Majed Al-Ansari. Energy and finance experts such as Dr. Helima Croft from RBC Capital Markets, Francesco La Camera from the International Renewable Energy Agency, Dr. Sara Vakhshouri from SVB Energy, and Amer Bisat from Blackrock also shared their insights.
One of the key topics discussed at the forum was the de-escalation of tensions in the Middle East following the Saudi Arabia-Iran rapprochement and rumors of potential normalization between Saudi Arabia and Israel. Tim Lenderking, the US special envoy for Yemen, provided updates on the operation to offload oil from the Safer tanker in the Red Sea and shared his experiences negotiating with the Houthi militia.
Lenderking emphasized that Saudi Arabia, the UAE, Qatar, Bahrain, and Oman all desire peace in Yemen despite differences in approach. He highlighted the efforts of Saudi Arabia and Oman to bring an end to the conflict with UN and international support. However, he also stressed the need for a deal with the Houthi militia to resolve the dire humanitarian situation through political means.
In a fireside discussion, Majed Al-Ansari, a Qatari ministerial adviser, spoke about the future of the US-Gulf relationship. He acknowledged the strong US military presence in Qatar but pointed out the incoherence in the US’ Middle East policy, which has affected the region’s perception of the US. Al-Ansari emphasized the need for guarantees and tangible commitments from the US to ensure its support when needed.
The forum also featured a panel discussion on energy developments in the region and the transition towards renewable energy. Dr. Sara Vakhshouri highlighted the role of national priorities in adopting renewables, citing Saudi Arabia’s low-cost resources and high government investment as favorable factors for the adoption of green and blue hydrogen as alternative energy sources.
Amer Bisat from Blackrock commended the GCC’s transition away from oil dependency, particularly in Saudi Arabia, where the non-oil sector has seen significant growth. He noted that the non-oil sector in Saudi Arabia is now 80 percent above its 2014 levels and has surpassed per capita terms by 50 percent compared to nine years ago.
The MENA Forum provided a platform for discussions on crucial political and economic issues in the Middle East and North Africa region. The participation of high-level officials and experts emphasized the importance of collaboration and strategic planning to unlock the region’s potential for prosperity, security, and a sustainable global future.
In conclusion, the forum shed light on various topics, including peace prospects in Yemen, the evolving role of the US in the region, Saudi Arabia’s rapid non-oil growth, and the transition towards renewable energy. The discussions highlighted the shared desire for peace and stability in the region, as well as the need for coordinated efforts to address pressing challenges and seize opportunities for sustainable development.