New Economy

Globalization Is Alive and Well in the Middle East

While protectionism spreads elsewhere, one region of the planet is open for business.

Sheikh Salman bin Hamad al-Khalifa, crown prince of Bahrain, during the 46th Association of Southeast Asian Nations-Gulf Cooperation Council summit in Kuala Lumpur on May 27.Photographer: Samsul Said/Bloomberg

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By Andrey Biryukov

February 7, 2026 at 11:45 AM UTC

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These could hardly be considered the best of times for global trade, with globalization practically a dirty word in some circles and protectionism on the rise. Yet one region of the planet is seeing an outright boom: the Middle East.

Led by members of the Gulf Cooperation Council, which includes the United Arab Emirates and Saudi Arabia, the Middle East saw its trade climb at an annual rate of 15% from 2021-24, according to a tally by Standard Chartered economists. By outpacing the 9% global pace, the region’s market share increased. More recent figures show trade continues to climb.