The Middle East Economy

Clocking the world’s highest growth rate in 2011, Qatar is maintaining expansion despite a difficult international economic climate clouded by the eurozone crisis and doubts over the sustainability of US debt. Indeed, the country saw GDP growth of 14% in inflation-adjusted terms last year, with energy exports its leading economic driver.

Increased foreign mergers and acquisitions (M&A) activity and regulatory changes that encourage consolidation are expected to dramatically alter the commercial playing field in Turkey over the next several years.

The Jordanian government is attempting a difficult balancing act, working to boost economic growth while imposing a series of austerity measures intended to curb public spending and debt levels. These measures may prove unpopular with many in the electorate but should serve to strengthen the economy in the longer term.

Set to ride a rising wave of interest in its free trade zones, Dubai is cashing in on its long-term investments to further bolster its economy by attracting new clients looking for a stable and central base of operations. Dubai’s free zones are becoming increasingly important to its economy and represent a strengthening bond between the emirate and global trade.

The recent announcement of plans for the establishment of new free trade agreements (FTAs) with Malaysia and South Korea in the first half of 2012 will likely lead to a significant increase in trade between Turkey and East Asia.