The Middle East must not take far granted its energy sources as the US is already highly self-sustainable, and will only increase utilization of domestic sources in the coming years, according to Hassan Amin Jarrar, CEO Standard Chartered Bank Bahrain.
Jarar expressed these views during a discussion hosted by Capital Club Bahrain about the US elections and future of the Middle East.
Professor John Hillis, Director of the American Studies Center at the University of Bahrain and Stephen Harrison, International Advisor to the Economic Development Board were among others who shared their insights.
As US President Barack Obama immerses himself into his second term; an expert panel provided an in-depth look ahead at how another four years of the Obama administration may impact the Arab world during continued political and economic uncertainty. The forum was hosted by Capital Club Bahrain, the Kingdom’s premier private business club and a member of the ENSHAA group of companies.
The panel agreed that in order for the region to remain lucrative in the global, not just US, market, it must consider the impact of Asia, particularly Singapore and China, as well as others who will gain major footing in the coming years in terms of import/export opportunities.
“The region must create its own destiny and work to resolve the current political and economic woes in order to focus on prospective global ventures that will enable leading edge innovations over highly and quickly emerging markets,” Stephen Harrison added.
The panel further agreed that Bahrain’s historical ties with the US have always been strong, with healthy American presence in the Kingdom, including the US fleet, and that is a position not likely to change.
On the subject of the Arab-Israeli conflict, the discussion stressed that it was incumbent upon the Obama administration not to forget to face the issues at hand. The world is not dealing with another assertive Reagan, who famously ordered the fall of the Berlin Wall, Obama plays a more passive and diplomatic role, and his personal emphasis focuses on the nation’s local economy and social healthcare.
Professor John Hillis felt that an important challenge remains with cross-cultural education and breaking down stereotypical barriers. “We must continue to engage in educating and enlightening our youths and communities at large who are simply uneducated about the US and Middle East, and empower them to influence their governments, rather than follow archaic top-down philosophies.”