RIYADH: Member nations of the Gulf Cooperation Council can play a pivotal role in developing African economies, a special meeting of the World Economic Forum in Riyadh was told on Sunday.

Economic relations between Africa and the GCC are set to grow significantly in the coming years, economists have said, driven by mutual interests in economic diversification, investment and sustainable development.

Denis Christel Sassou Nguesso, the Republic of Congo’s international cooperation minister, said countries in central and western Africa had traditionally looked to Western powers, such as the US, France and the UK, for assistance with their development but were increasingly looking to forge links with GCC countries.

“It’s a good opportunity and position to start to work on this cooperation with (countries such as) Saudi Arabia, UAE, Qatar, Oman and Bahrain. They can help (African) countries to develop their economies and infrastructure projects,” he said.

“We’re not looking for an equal economy (with GCC states), but we’d like to build some bridges toward partnerships between our countries, to promote the public-private partnership.”

Boitumelo Mosako, CEO at the Development Bank of Southern Africa, told the panel that the GCC and African Union were founded on the same date, which coincides with Africa Day.

The GCC and the Organization of African Unity, which was replaced by the African Union, were both founded on May 25.

This was a symbol of the strong partnerships that had evolved between Africa and GCC countries, especially in direct trade, Mosako said.

“When it comes to infrastructure, that is where I see the greatest opportunity. As we all know, (Africa) is a continent with an infrastructure backlog, but we are one with aspirations of implementing an African free-trade agreement.”

But in order for this to be achieved, infrastructure projects had to be built quickly, which would not only benefit African economies but also global partners as Africa’s exports to those countries would be able to increase exponentially, Mosako said.

Highlighting opportunities in energy investment from GCC countries, she added: “We have seen this in South Africa, where GCC companies have partnered local entities as part of a renewable energy program, so it’s not something far-fetched, it’s actually happening. It’s an opportunity to close the energy gap for the continent.”

Ousmane Dione, vice president for the Middle East and North Africa at the World Bank, said that at its shortest distance, there were only 26 km between Africa and the GCC, but there was a much bigger metaphorical gap in investment from the GCC states into Africa, which he called a “land of opportunity.”

He said that by 2035, there would be 430 million young Africans coming into the labor market competing for just 100 million jobs if current policies remained in place.

This could either be a “demographic liability or a demographic dividend” depending on how other countries viewed it, he said.

“I see the GCC countries really being a part of what will be the future of that relationship, in terms of a partnership.”

TEL AVIV: A senior Hamas official on Sunday said that the group would deliver its response to Israel’s latest counterproposal for a Gaza ceasefire on Monday in Egypt.
“A Hamas delegation headed by Khalil Al-Hayya will arrive in Egypt tomorrow... and deliver the movement’s response” to the Israeli proposal during a meeting with Egyptian intelligence officials, said the official who declined to be named told AFP.

Mediator Egypt had sent its own delegation to Israel this week to jump-start stalled negotiations even as fighting in the Gaza Strip rages.
Egypt, Qatar and the United States have been unsuccessfully trying to broker a new Gaza truce deal ever since a one-week halt to the fighting in November saw 80 Israeli hostages exchanged for 240 Palestinians held in Israeli prisons.

Earlier, a senior Qatari official has urged both Israel and Hamas to show “more commitment and more seriousness” in ceasefire negotiations in interviews with Israeli media, as pressure builds on both sides to move toward a deal that would set Israeli hostages free and bring potential respite in the nearly 7-month-long war in Gaza.
The interviews with the liberal daily Haaretz and the Israeli public broadcaster Kan were published and aired Saturday evening. They came as Israel still promises to invade Gaza’s southernmost city of Rafah despite global concern for hundreds of thousands of Palestinians sheltering there and as the sides are exchanging proposals surrounding a ceasefire deal.
Qatar, which hosts Hamas headquarters in Doha, has been a key intermediary throughout the Israel-Hamas war. Along with the US and Egypt, Qatar was instrumental in helping negotiate a brief halt to the fighting in November that led to the release of dozens of hostages.
The sides have held numerous rounds of negotiations since, none of which produced an additional truce. In a sign of its frustration, Qatar last week said it was reassessing its role as mediator.
In the interviews, Qatar’s Foreign Ministry spokesperson Majed Al-Ansari expressed disappointment in both Hamas and Israel, saying each side has made its decisions based on political interests and not with the good of civilians in mind.
“We were hoping to see more commitment and more seriousness on both sides,” he told Haaretz.
He did not reveal details of the current state of the talks, other than to say they have “effectively stopped,” with “both sides entrenched in their positions.”
“If there is a renewed sense of commitment on both sides, I’m sure we can reach a deal,” he said.
The Israeli journalists conducted the interviews in Qatar, which has no formal diplomatic ties with Israel.
Relations between Qatar and Israel have been strained throughout the war, as some politicians in Israel, including Prime Minister Benjamin Netanyahu, have criticized Qatar for not putting enough pressure on Hamas.
Israeli legislators have also cleared the way for the country to expel Al Jazeera, the Qatar-owned broadcaster.
Al-Ansari’s remarks came after an Egyptian delegation had discussed with Israeli officials a “new vision” for a prolonged ceasefire in Gaza, according to an Egyptian official, who spoke on condition of anonymity to freely discuss the developments.
Hamas meanwhile said Saturday it was reviewing a new Israeli proposal for a ceasefire, which came in response to a Hamas proposal from two weeks ago.
Negotiations earlier this month centered on a six-week ceasefire proposal and the release of 40 civilian and sick hostages held by Hamas in exchange for freeing hundreds of Palestinian prisoners in Israeli jails.
There is growing international pressure for Hamas and Israel to reach a ceasefire deal and avert an Israeli attack on Rafah.
A letter penned by US President Joe Biden along with 17 other world leaders urged Hamas to release the hostages immediately.
Hamas in recent days has released new videos of three hostages it holds, which appear to be meant to push Israel to make concessions.
Israel meanwhile has massed dozens of tanks and armored vehicles ahead of an expected offensive in Rafah, where more than half of Gaza’s 2.3 million population is seeking shelter. The planned incursion has raised global alarm because of concerns over potential harm to civilians. The troop buildup may also be a pressure tactic on Hamas in the truce talks.
Israel sees Rafah as Hamas’ last major stronghold and has vowed to attack the militant group there in its bid to destroy its military and governing capabilities.
The war was sparked with Hamas’ attack on Oct. 7 into southern Israel, which killed 1,200 people, mostly civilians, according to Israeli authorities, who say another 250 people were taken hostage. Hamas and other groups are holding about 130 people, including the remains of about 30, Israeli authorities say.
Israel’s retaliatory assault on Hamas has killed more than 34,000 people, most of them women and children, according to health authorities in Gaza, who do not distinguish between civilians and combatants in their tally. The Israeli military says it has killed at least 12,000 militants, without providing evidence to back the claim.