The GCC can be a latter-day Venice

In a fascinating week in Dubai and Abu Dhabi, I've had the chance to learn and share thoughts about the future of the Gulf region with some of the people helping realise that future here. I draw five conclusions:

1. The GCC can be a latter-day Venice, open to East and West and drawing prosperity from both.

2. Western ‘decoupling’ from China and an increasingly bipolar world requires more active balancing of the region's interests with its alliances; but

3. The Gulf States are in a strong strategic position: as Europe ends its Russian energy dependence; with high global energy prices; and with strong, diversified domestic economic growth across the GCC;

4. Western innovation partnerships are still an important part of a sustainable transition to high-skilled, high-tech, post net zero economies in the region; and

5. UK innovation, as part of Gulf partnerships, is underpriced, as Britain emerges from Brexit turbulence to political stability and as a predictable regulator.

I and my Lexington colleagues are looking forward to coming back soon and helping deliver innovation and change.