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Gulf economy not to be hit by conflict

posted on 09/10/2001: 747 views

Abu Dhabi (WAM) Middle East Economic Digest (Meed) magazine said on Monday that the Sept. 11 attacks in the US and the events following them will have minimum impact on the economic stability of the Gulf region. 'These are short-term events and the Middle East region will recover in the new year,' said Edmund O' Sullivan, the magazine's publishing director while addressing a press conference to announce the details of the Meed Awards for Business Excellence that will be held in March 2002 in Dubai, according to a report in 'The Gulf Today.' 'The Gulf region will recover by 2002 and as long as oil prices don't fall significantly below where they are now, regions in the Middle East will be growth points in the new year,' he added.

The Meed Awards for Business Excellence, which has been developed by Edmund O' Sullivan, the magazine's Publishing director, in conjunction with its UK-based management team, will be given to those individuals and companies who have contributed to the Middle East region's economy. The March 2002 event will be organised by Meed and sponsored by the Boeing Company. 'Boeing has full faith in the Middle East region. We have commitments in Gulf and are bullish about Middle East,' said Paul Dubeck, director-international sales, Boeing Commercial Aeroplanes. WAM


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