Dr Anwar Gargash, the UAE Minister of State for Foreign Affairs, aT a meeting in the renovated main hall of the bloc's headquarters in Cairo on March 4, 2020. EPA
Dr Anwar Gargash, the UAE Minister of State for Foreign Affairs, aT a meeting in the renovated main hall of the bloc's headquarters in Cairo on March 4, 2020. EPA
Dr Anwar Gargash, the UAE Minister of State for Foreign Affairs, aT a meeting in the renovated main hall of the bloc's headquarters in Cairo on March 4, 2020. EPA
Dr Anwar Gargash, the UAE Minister of State for Foreign Affairs, aT a meeting in the renovated main hall of the bloc's headquarters in Cairo on March 4, 2020. EPA

Anwar Gargash: coronavirus will weaken economies

UAE minister of state says region needs to find ways to bolster development model as world reels from effects of pandemic

The National

May 06, 2020

  • English
  • Arabic

The coronavirus pandemic will necessitate a rethink of global economic models, the UAE Minister of State for Foreign Affairs said yesterday

Dr Anwar Gargash told a Beirut Institute Summit panel that the regional labour market would be affected by the pandemic.

“The region, like all regions of the world, will be financially and politically weaker and we would be wise to think about our development models,” Dr Gargash told the panel on Zoom.

He said the Gulf governments would be asking “a lot of questions about what constitutes a Gulf rentier state model”.

“We have been for many years trying to escape that model with varying degrees of success but I think this is going to accelerate the necessity for us to find something a little bit more sustainable,” Dr Gargash said.

The system across the region, which employs a large proportion of migrant labour, “will be under consideration”.

“One would have to look at it and see is this model sustainable? Should it be tweaked or not?" he said.

"It is a bit early but I think this is emerging as a major issue.

“This is a period of healing, and healing means we need to look internally and address the impact of this huge pandemic on our policies and on our relations with others."

Dubai World Cup Carnival card:

6.30pm: Handicap (Turf) | US$175,000 | 2,410 metres

7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 | 1,400m

7.40pm: Handicap (T) | $145,000 | 1,000m

8.15pm: Dubawi Stakes Group 3 (D) | $200,000 | 1,200m

8.50pm: Singspiel Stakes Group 3 (T) | $200,000 | 1,800m

9.25pm: Handicap (T) | $175,000 | 1,400m

Killing of Qassem Suleimani
Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Tomorrow 2021
Tomorrow 2021
UAE currency: the story behind the money in your pockets
Our commentary on Brexit
UAE currency
The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Killing of Qassem Suleimani
On Women's Day
World Mental Health Day
On Women's Day
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
While you're here
While you're here...
Killing of Qassem Suleimani
While you're here
The years Ramadan fell in May

1987

1954

1921

1888

Whiile you're here
Plastic tipping points

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

Recommended
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Mohammed bin Zayed Majlis
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

While you're here
While you're here
While you're here
UAE currency: the story behind the money in your pockets
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

More on this story
Avengers: Endgame

Directors: Anthony Russo, Joe Russo

Starring: Robert Downey Jr, Chris Evans, Scarlett Johansson, Chris Hemsworth, Josh Brolin

4/5 stars 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

UAE currency: the story behind the money in your pockets
More from Neighbourhood Watch:
On Women's Day
Tomorrow 2021
Tomorrow 2021
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

UAE currency: the story behind the money in your pockets
While you're here
GCC