Columbia International Affairs Online: Working Papers

CIAO DATE: 03/2010

Investment from the GCC and Development in the Mediterranean. The Outlook for EU-GCC Financial and Economic Cooperation in the Mediterranean

Bénédict de Saint-Laurent

December 2009

Istituto Affari Internazionali


Basic questions posed in this study were whether the trend of Gulf involvement in the Mediterranean economies was sustainable, what the specifics of those investments are, and could a triangular cooperation be envisaged? What is clear is that Gulf investors have become major players in the Mediterranean with an investment volume of more than 70 billion Euro in nearly 700 projects since January 2003. The Gulf now seems to have joined Europe as a sustainable second investment pillar. The complementarities between needs and resources of Europe, GCC and Med countries call for the implementation of an integrated co-operation model, similar to the Japan-China-ASEAN triangle.