Priority has been accorded to development of supply chain and logistics infra in the GCC region. According to an exclusive report written by J Sivan, Senior Consultant, Supply Chain and Logistics Practice, Frost and Sullivan, the GCC region is ramping up logistics and air cargo hubs, driven by growth of cross-border e-commerce trade. The region’s economic integration with global economy is expected to gain strength in the coming years.” The GCC has shown tremendous potential amidst global inflation, partly due to economic diversification initiatives undertaken recently. National development plans of the GCC countries have given priority to increasing the contribution of non-oil sectors and expansion of trade through many trade cooperation pacts. The GCC’s most advanced economy, the UAE, prioritized CEPA and reached trade pacts with India and Israel. Kingdom of Saudi Arabia, through its Global Supply Chain Resilience Initiative, is positioning itself as a key link to global supply chains in various sectors such as aerospace, pharma, automotives, maritime, medical devices, military supplies, and food processing. These developments are expected to open trade and investment opportunities in sourcing materials for development of non-oil economic sectors and for exporting finished goods.
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