At an exclusive press conference held at the Bahrain Economic Development Board (EDB) offices today, Euromoney Conferences, the world’s leading organiser of conferences, briefed the members of the local media on the themes and topics to be discussed at the 4th GCC Financial Forum 2015.
The press conference was led by Richard Banks, Emerging Markets, Euromoney Conferences, and Dr. Jarmo Kotilaine, Chief Economist for the Bahrain EDB. The Forum will take place on 24 and 25 February 2015 at the Sofitel Bahrain Zallaq Thalassa Sea and Spa, Kingdom of Bahrain.
During the press conference Mr Banks, commented: "GCC governments remain dependent on oil revenues while some have started working on economic diversification programs. This year and beyond will be more complex and challenging than the recent past for this part of the world and the global economies."
"There are a number of factors that seem to drive the market and some of these include: a sustained and significant surge in non-OPEC output; continued supply despite potential geopolitical risks in oil producing regions; a period of softer than expected global demand; a strong dollar and a strategy by the Kingdom of Saudi Arabia to protect market share rather than headline prices. We will be taking a closer look on how these factors will impact the GCC financial markets," he concluded.
At the press conference Dr. Jarmo Kotilaine, Chief Economist, Bahrain Economic Development Board Said: "Oil price cycles come and go, but the GCC has some of the strongest fundamentals of any region in the world. The young nature of the demographic profile is very favourable and economic diversification continues to open new opportunities across the spectrum of sectors. Better connectivity and integration, both regionally and with the global economy, is accelerating growth in the region. Large investments are being made in transportation links both within the GCC and between the GCC and the world as the region becomes highly integrated within global trade and travel flows.
"So we are confident that the dynamics of the non-oil economy will remain favorable in spite of the recent volatility in the oil price. With that in mind, I hope the attendees at this year’s GCC Financial Forum leave with a sense of not just the challenges the region is facing but also cognizant of the exceptional opportunity to capitalize on wide-ranging and sustainable investment themes."
At the 4th GCC Financial Forum a range of topics will be discussed. Some of these include; Regional finance in the global market place; the role of private capital in public projects; Bahrain’s real economy; the growth of local companies and the pipeline of hydrocarbon projects.
More than 600 leading international and regional financial experts from finance, investment, government, and regulatory organisations and businesses from 18 countries are expected to attend the event.
A working agenda which includes keynote addresses and topics for panel discussions is available on the Euromoney website www.euromoneyconferences.com/bahrain.
This year Euromoney's multi-channel approach will utilise social media platforms such as Twitter: inviting interested participants to voice their opinions using the hashtag #emBahrain during the various sessions. To watch proceedings from 2014 and 2015 please visit the Euromoney Conferences website.
Euromoney is the world’s leading organiser of conferences for cross-border investment and capital markets for portfolio and direct investors, financial intermediaries, corporations’ governments,’ banks and financial institutions. Since the late 1970s Euromoney Conferences has run events in more than 60 countries.