The Arab British Chamber of Commerce (ABCC) has announced that a new economic forum will discuss the global economic downturn and worldwide capital constraints for trade relations between Britain and the Middle East.

The first Arab British Economic Forum (Abef) will be held on November 2 and 3 at the InterContinental Hotel Park Lane, London.

Abef will be the key Arab-British business event in London this year. It will be addressed by ministers and leading business figures from the Middle East and the UK.

Their presentations will stimulate discussion by participants of the key topics in six sector-focussed sessions over the two days, addressing agriculture, financial services, education and training, IT and telecom, renewable energy and the role of women in the global economy.

Abef is supported by the League of Arab States, UKTI, the British Chambers of Commerce and British Expertise.

It will take stock of financial conditions in the last quarter of 2009; the prospects for revived confidence in a revitalised international financial system, the easing of capital constraints and restored lending; the implications for broader economic recovery; and the opportunities for Middle East and British partners to secure their business objectives by meeting the challenges together.

The forum will also offer space for one to one meetings between participants.

ABCC secretary general and chief executive Dr Afnan Al-Shuaiby said: “The forum will be held at a significant moment for the world economy.”

“Although all countries around the world have been affected by the global economic downturn, many Arab countries have weathered the storm better than other regions due to conservative regulatory policies, sophisticated economic strategies and strong financial positions based on oil prices which remain above their governments’ budget assumptions,” he added.

“They continue to offer strong business opportunities for British companies and are looking for the skills and products the UK has to offer.  These factors ensure that the business partnership between Britain and the Middle East remains strong and continues to deliver economic benefit to both sides.” – TradeArabia News Service