ABU DHABI // A think tank focusing on regional and global economics has been established in the capital with the aim of predicting developments.
The former director of economic and social studies at the Emirates Centre for Strategic Studies and Research (ECSSR) set up Al Istishari Al Strategy Centre for Economic and Future Studies to help forecast political, social and security trends as the region suffers severe turmoil.
“It is focusing mostly on the economy and strategic and social studies,” said Ahmed Al Astad, managing director. “There are many think tanks looking at the political side, but we believe there is another important aspect for our country and globally, which is the economy and how politics, military, security and social affairs affect it.”
Funded by Mr Al Astad and three other Emiratis, the centre will build a database and develop models to better forecast developments locally, regionally and, eventually, on a global scale.
“We have a good team that we have brought together to create and develop this model. It is important because the UAE is building for the future, and you must have something to help and support it to know what the future looks like.”
He said the centre would serve as a tool for the country in reaching its goals and vision.
“Many issues have happened around us in the political arena,” he said. “It is all linked back to the economy, especially when it comes to development.”
Located in Al Bateen, between the Central Bank and the Crown Prince’s Court, the centre has a non-profit branch in Canada, with plans to open another two in Washington and Paris.
“The UAE, specifically, and all Middle Eastern countries in general require this kind of research centre to help decision-makers,” Mr Al Astad said. “Our leadership is always open to listening, which is why we are using our experience to help our country as well as its vision and goals.”
Experts said specialisation in think tanks was in high demand as the UAE was maturing into a regional power. “The foundation of the ECSSR came at a very critical moment to provide the country with the strategic advice it needed the most,” said Dr Albadr Al Shateri, politics professor at the National Defence College. “It is high time to have a think tank with an economic focus.
“The UAE and other GCC states, like Saudi Arabia, are diversifying their economies away from hydrocarbon-based to knowledge-based ones that depend on a more sustainable growth. Like anywhere else, a think tank with an expertise on economic policy will play a vital role in guiding such transformation.”
Others said the establishment of the new think tank was timely.
“Generally speaking, research centres focusing on strategic security studies around the world do not properly take into account, or adequately focus on, the economic dimensions of decision-making and behaviour patterns of states and non-state actors,” said Sabahat Khan, senior analyst at the Institute for Near East and Gulf Military Analysis in Dubai.
“In truth, the economy and economic affairs are (together) the single greatest factor that influences behaviours and attitudes at almost any level – macro, micro and meso – and everything follows after.
“The centre can hopefully fill a void that helps better understand the underlying factors behind emerging developments by putting the crucial economics behind them into focus.”
cmalek@thenational.ae
