The Importance and Components of Economic Cooperation among Red Sea Countries

Zuhair Khalid Afifi
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Zuhair Khalid Afifi: Islamic University of Madinah, Madinah, Saudi Arabia.

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Abstract: In an era marked by interconnectedness and global interdependence, the Red Sea region stands as a pivotal nexus linking diverse nations with shared opportunities and challenges. The importance of economic cooperation among Red Sea countries cannot be overstated, as it not only holds the potential to bolster individual national economies but also to foster regional stability, enhance sustainable development, and create a pathway towards mutual prosperity. This strategic waterway, teeming with economic potential, serves as a conduit for trade, investment, and collaboration, urging nations along its shores to recognize the mutual benefits of collective economic endeavors. In this dynamic context, fostering collaboration among Red Sea countries emerges not only as an economic imperative but also as a diplomatic and geopolitical necessity, reflecting the growing recognition that shared interests transcend national borders and can be best pursued through collective action. This paper offers a general literature review on the topic of the importance and components of economic cooperation among Red Sea countries. This literature review synthesizes existing research on the importance and components of economic cooperation among Red Sea countries. The Red Sea region, characterized by its strategic geopolitical position, is home to a diverse group of nations with unique economic challenges and opportunities. Scholars have extensively explored the potential benefits of fostering economic collaboration in this region, emphasizing the crucial role it plays in promoting regional stability, sustainable development, and mutual prosperity.

Date: 2024-01-13
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Published in Journal of Economics, Management and Trade, 2024, 30 (1), pp.29-33. ⟨10.9734/jemt/2024/v30i11187⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05101161

DOI: 10.9734/jemt/2024/v30i11187

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