Euro-Arab Economic Cooperation: Case for Smaller Countries to Take Initiative [Archives:2000/51/Business & Economy]

Irena Knehtl
Economist, entrepreneur and writer from Slovinia
Republic of Yemen is in process of establishing its regional role aiming to promote regional stability and prosperity. Yemen is also the richest Arab country in culture and people, human capital being its greatest strength. Strategically located across the Horn of Africa it is a natural hub of logistical and transport routes, a distribution and investment center for emerging marketing opportunities in southern Arabia and the Indian Ocean Rim. It has been also emerging as bridge for servicing Australia and Southern Africa, Europe most important trading partners. But Yemen is seen as bridge between ancient and modern, and a creator of new relationships

Scent of Place:
Geographically the Arab Peninsula is an area with strong flavors, and smells too intense, and contrasts much too extreme, stretching from the desert lowlands, mountain tops wrapped in thick clouds, wilderness, to the cities, and shores of the Red and Arab Seas, the Indian Ocean, and further. It is here that the Scent is the strongest. Scent, so it is being said, clears also darkness of visions. Scent also brings back memories of youth.
This is also an area with rich commercial and cultural links, and not until this century did Arabia and the West resume a comparatively fruitful commercial intercourse, only this time the commodity was oil. Here even the geography of peoples faces has the shape of their mountains, which meant being free! But once upon the time they had the power that created fear, it changed lives. Now, however, their teeth were pulled out, and their spirit died.
Whether inside or outside, a partnership with an economically united Arab world is increasingly in Europe interest, to help Arabs to realize their economic potential in full. The potential for an equal partnership thus lies in continuing liberalizing of their economies, and managing economies more efficiently, on one hand, and a different set of European countries on the other, in order to reach a new quality in relationships and development.
European investors no longer seek exceptionally high profits, and fast returns only, but also other enduring values, such as culture. The oil and gas industry, once a king maker has lost much of its political prominence, and its significance, and has been eclipsed by a new economy and telecommunications. However, e-commerce must never remain confined only to network, telecommunications, computers, and the media, and or markets, but rending it human and no consolidating of democratic space and duty maintain the freedom.
The battle is one: the challenge for 21 century is to dismantle the big, and develop the people. Further, just what type of investments, projects, deals, and which technology will be more appropriate as we have to become ten to twenty times more efficient in our use of resources is now further challenge.
It is culture that provides us with values and identity, and which enables us to cope with challenges, and changes occurring as we expand our relationship with an increased united Europe on one hand and a potential economic united Arab world on the other. It is also culture that reserves the right to be different and an instrument of opportunity and inclusions on one own terms. Technology too has to be seen as part of culture, and new technologies are important for cultural development. Many of the answers to Arab problems of development, however, lies not so much in the wholesale adoption of foreign values and ideas, as in a more realistic perception of its own, its past, its culture, and splendidly complex ecosystem may well provide some exciting alternatives.
Thus the model for a new Euro-Arab economic partnerships is one of joint marketing exploration and approach and joint establishing of transport, and logistical routes, and distributions, centers for emerging marketing opportunities. Further, the source of foreign capital from foreign investors should include also management know how, and technology, and an economic engine to help to reinvigorate the region.
Innovation is a key success behind all successful firms, undertakings and countries. Being innovative means, however, more than just having good ideas. In fast changing environment innovation is not just matter of export profitability, it can be a matter of survival. Republic of Slovenia, has been aiming of setting and example of new Euro-Arab economic cooperation and partnership with Yemen in form of interactive business networks, and an regional investment summit to begin with. Thus the youngest country in the world has opted for an innovative approach having in mind it is innovation that will allow companies and countries to thrive and survive. In a global economy is the harvesting the power of innovations the central theme. Together with our human resources, technologies, and our cultural heritage, we could achieve European and world standard:
among the olive trees of our valleys,
and in the ripeness of the fields,
we shall await the promise of July.
And the joyous dance and the harvest

——
[archive-e:51-v:2000-y:2000-d:2000-12-18-p:./2000/iss51/b&e.htm]