The Bab Al Bahrain Forum 2025, held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, convened yesterday at the Four Seasons Hotel Bahrain Bay.
Themed “Shaping a Sustainable Future through Trade and Employment,” the forum addressed the challenges of a rapidly transforming global economic order.
Deputy Prime Minister Shaikh Khalid bin Abdullah Al Khalifa opened the event joined by Bahrain Chamber chairman Sameer Nass and global dignitaries.
Mr Nass highlighted the forum’s role as a critical platform for leaders to exchange insights and propose solutions amid unprecedented global power shifts.
“These changes bring opportunities but also complex security challenges—political, economic, and social,” he said, emphasising the need for unity and proactive action.
Mr Nass pointed to trade wars disrupting supply chains, raising prices, and fueling inflation, challenging open markets and global cooperation.
He underscored Bahrain’s strategic role, noting, “Hosting the Bab Al Bahrain Trade Dialogue is symbolic and strategic, given our rich trading history.”
He urged renewed commitment to equitable partnerships and inclusive growth, warning that trade tensions undermine trust, strain diplomacy, and divert focus from priorities like climate action.
Emerging markets, Mr Nass argued, could drive innovation and sustainability, with the private sector and NGOs playing key roles.
The forum’s diverse attendees—including representatives from the ILO, WTO, ICC, GCC, and Arab Chambers—marked a diplomatic milestone and a chance to address disruptions like trade wars.
“This is the beginning of action,” Mr Nass said, confident the discussions would yield strategic recommendations.
The agenda featured two panels. The first, “The Impact of Shifting Global Blocs on Sustainability and Growth,” moderated by Al Arabiya’s Lara Habib, included Transportation and Telecommunications Minister Dr Shaikh Abdullah bin Ahmed Al Khalifa, World Trade Organisation (WTO) Director-General Dr Ngozi Okonjo-Iweala, International Labour Organisation (ILO) Director-General Gilbert F. Houngbo, Industry and Commerce Minister Abdulla bin Adel Fakhro, and Gulf Cooperation Council (GCC) Secretary-General Jasem AlBudaiwi.
The panellists engaged in a robust discussion spanning the future of multilateral trade agreements and employment in an era of shifting economic alliances.
"The evolution of economic blocs presents both challenges and opportunities for the global trade landscape," noted Dr Ngozi Okonjo-Iweala. The discussion explored how these shifts could reshape employment dynamics and the relevance of existing multilateral frameworks.
They explored resilient supply chains, multilateral trade agreements, and employment dynamics amid shifting economic alliances.
Dr Okonjo-Iweala noted, “The evolution of economic blocs presents both challenges and opportunities.”
The panel emphasised inclusive globalisation, addressing trends like nearshoring and friend-shoring, and their impact on migration and trade patterns.
Innovation in emerging markets and supportive R&D policies were also key topics, stressing the need for robust partnerships between developed and emerging economies.
The critical role of the private sector and non-governmental organisations (NGOs) in driving economic growth, alongside the government's function as a regulator and service provider, was the focus of the second panel at the Bab Al-Bahrain Forum.
Moderated by Ms Habib, the discussion featured International Chamber of Commerce (ICC) head of trade Valerie Picard, United States Council for International Business (USCIB) president and chief executive Whitney Baird, International Organisation of Employers (IOE) president Jacqueline Mugo, World Trade Organisation (WTO) General Council chair Saqer Almoqbel, Union of Arab Chambers (UAC) president Samir Majoul, and Federation of Gulf Cooperation Council Chambers (FGCCC) president Shaikh Faisal bin Abdullah Al Rawas.
Panellists explored the vital function of the private sector in fostering economic development, emphasising the "symbiotic relationship between private initiatives and government policies."
Looking ahead, the discussion centred on collaborative pathways for growth, with a focus on identifying shared goals between developed and emerging markets. Panellists explored strategies for building equitable trade and economic policies that foster mutual benefit across different stages of development.
Former Greek Finance Minister Yanis Varoufakis delivered a critical assessment, condemning protectionist tariffs for escalating trade wars and inflating prices.
He warned of rising inequality, asset bubbles, and debt crises driven by speculation, advocating for coordinated global monetary policies to foster sustainable growth.
At a Press conference moderated by Dr Adel Al Abdullah, Mr Nass announced that key recommendations would be delivered soon, channelled through Arab and GCC chambers and the Arab League.
Follow-up meetings, including with GCC ministers and the Arab League secretary-general in Kuwait, are planned to enhance inter-GCC relations.
Bahrain Chamber’s first vice chairman Khalid Najibi noted that intra-Arab trade, below 15 per cent of total trade, presents opportunities.
The forum addressed GCC and global economic challenges, including WTO recommendations and
the ‘90-day pause’ by the US on trade dynamics.
“We are adapting to policy changes and anticipating challenges,” Mr Najibi said.
Organisers hailed the forum’s launch as a success, emphasising the need for direct engagement with international bodies amid significant global transformation.
The event underscored regional productivity through collaboration, positioning the GCC for growth and resilience in a volatile economic landscape.