Region need new trade routes, with or without Hormuz, UNDP’s Abdallah Al-Dardari tells Arab News
Abdallah Al-Dardari, UNDP's director for the Arab region, emphasizes the need for new trade routes in light of the ongoing US-Israeli conflict with Iran that has severely impacted the Strait of Hormuz, a vital shipping lane. He proposes a Regional Convergence Initiative aimed at developing multiple trade and energy routes to reduce dependence on Hormuz, fostering economic growth and diversification despite the current crisis. This initiative seeks to address long-standing regional vulnerabilities and is set to move into its next phase, with discussions on project developments and funding.
