L. V. SHKVARYA
Doctor of Economics
I. A. AYDRUS
Candidate of Economic Sciences
GCC Keywords:, areas of application of Arab capital, Russian-Arab investments
The Arab countries of the Persian Gulf are a strategically important region. With large hydrocarbon reserves (about 60% of the world's proven oil reserves and 30% of natural gas1), these States are united in the Cooperation Council for the Arab States of the Persian Gulf (GCC)* , have a direct impact on global hydrocarbon markets, as well as on the state of international financial markets.
Foreign assets of companies, wealth funds and individuals of the GCC countries reached $1.9 trillion in pre-crisis 2007, and these assets have been steadily increasing since 2002.2 The investment activity of this group of states continued in 2008-2009, and in the post-crisis period, the investment potential of the Gulf countries is expected to continue to grow. Thus, the McKinsey Global Institute estimates that it will reach $9 trillion by 2020, of which 30 to 60% (depending on oil prices and the size of domestic capital demand) is expected to be invested outside the region3.
Russia remains aloof from the distribution of large Arab investments. At the same time, it seems that in the context of the global economic crisis and the search for ways out of it, as well as the gradual transformation of the model of capital export by Arab states, there is an objective opportunity to expand mutually beneficial investment cooperation between Russia and the Arab states of the Persian Gulf.
The article attempts to analyze the peculiarities of the formation and export of capital by the countries of this region in modern conditions.
CAPITAL OVERSUPPLY: SOURCES
The availability of natural energy resources, their extraction, processing and export, combined with such a factor as rising prices on the world market, underlie the capital saturation of the economies of the Arab countries of the Persian Gulf.
The States of the region are differently ... Read more