The Middle East

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For Ras Al Khaimah (RAK), 2008 was another year of solid growth at home and abroad, in keeping with the emirate's plans to expand and diversify its economy, and in spite of some of the problems that have afflicted the region following the global financial crisis.
2008 was another impressive year for Abu Dhabi, as the emirate continued to make high profile global investments despite depressing economic statistics abroad. Additionally, diversification reforms focusing on the environment, capital markets, transport and tourism continued at a vigorous pace.
The issue of food security has lately been making headlines in Qatar as the country considers its supply options for the future.
Qatar has taken a major step in expanding its maritime services industry, inking two key contracts as part of a multi-billion dollar port development whilst dismissing concerns that the crisis in the global economy could affect the project or its long-term viability.
As mature tourism markets in the West are starting to feel the pinch of the global economic slowdown, Abu Dhabi's sector remains resilient and even pushes forward with increasing room capacity.
Ras Al Khaimah (RAK) is actively promoting itself as a production and re-export hub for the Middle East, though it faces stiff competition from other Gulf states, especially fellow emirate Dubai.

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