As discussions at the fifth Qatar Economic Forum (QEF 2025) in Doha focused on economic growth and geopolitical shifts, former Egyptian Foreign Minister Nabil Fahmy offered a candid assessment of rising global instability and its impact on the world economy.

Speaking to TRT World on the sidelines of the QEF 2025, Fahmy identified the surge in violent conflicts and geopolitical tensions as critical threats not only to peace but to global economic stability.

“The disorder in the world order—the excessive use of violence and force. One example is Europe, with Ukraine. Another is Gaza in the Middle East,” Fahmy said, pointing to two ongoing flashpoints that have reshaped global alliances and economic forecasts.

Citing the International Monetary Fund’s (IMF) recent downward revisions in global growth projections—from 3.3 percent to 2.8 percent—he stressed the broader impact of these disruptions.

“As growth decreases, world trade declines, affecting communities everywhere. The international community needs to grow, create more jobs, and lift people out of poverty. That requires the ability to assess the future and focus on building rather than destroying.”

Fahmy, a seasoned diplomat and founding dean of the School of Global Affairs and Public Policy at the American University in Cairo, served as Egypt’s foreign minister from 2013 to 2014. He remains a respected voice on Middle East diplomacy and international strategy.

Gulf economic deals welcomed, but need ‘the right environment’

Fahmy also commented on US President Donald Trump’s recent high-profile visits to the Gulf region – covering Saudi Arabia, the UAE and Qatar – where he announced securing  over $2 trillion in investment pledges and other economic deals. While some observers questioned the optics and timing, Fahmy viewed the deals as a broadly positive step—though not without caveats.

“If you look closely, you’ll see parts of these deals were pre-agreed understandings—they take time to negotiate. Some parts were new, and others were MoUs (memorandum of understanding) for the future,” he said.

“Overall, I find them overwhelmingly positive and constructive. But they need to be implemented, and that requires the right environment,” he noted.

Fahmy underscored the inseparable link between politics and economics in ensuring the success of such large-scale regional initiatives. “Politics and economics can’t be separated—you need to work on both simultaneously.”

US-China rivalry: ‘We’ll work with all sides’

The escalating tensions between the United States and China—now extending from trade and technology to ideology—are placing many nations in a geopolitical dilemma. But Fahmy rejected the notion of binary alignment, arguing that countries in the Global South, including in the Middle East, must maintain agency and flexibility.

“There’s a saying: ‘Don’t talk the talk—walk the walk.’ The Americans were the first to say they wanted to pivot away from the Middle East and look towards Asia. So when the world shifts its gaze to Asia, there shouldn’t be complaints,” he said.

Rather than choosing sides, he argued, regional actors must pursue opportunities that align with their own long-term development goals.

“We’ll continue to work with the West and America—it’s in our interest. But we’ll also open our doors to the rest of the world, including Asia and China. It’s not an either-or—it’s about what gives us the best opportunity to move forward.”

Investing in people and technology

Fahmy also highlighted the demographic advantage of the Middle East, especially in the context of technological transformation and the global AI revolution.

“One of the Middle East’s greatest assets is its people—65 percent of the population is under 30. They are tech-savvy.”

He stressed the need to move beyond being mere providers of raw materials and instead focus on integrating into the global value chain.

“Our focus now should be to elevate the region’s role in the global supply chain—not just as raw material providers, but as contributors in value-added processes,” he explained.

Fahmy noted that the recent Gulf engagements on artificial intelligence and data infrastructure were a welcome sign of strategic foresight.

“The focus on AI and data centres—highlighted during Trump’s visit to Saudi Arabia, the Emirates, and Qatar—was beneficial. These countries recognised the need for investment in local tech infrastructure. It's a good start, but more needs to be done.”

Call for renewed activism from the Global South

Drawing on historical precedents, Fahmy invoked the spirit of the Bandung Conference of 1955 and the creation of the Non-Aligned Movement, urging today’s developing nations to reclaim their collective voice in shaping the future global order.

“Seventy years ago, small, newly independent, and not very wealthy countries gathered in Bandung and later created the Non-Aligned Movement. Though poor and just gaining independence, they believed the only way to create a better world was by working together.”

Now, with many of those nations more integrated into the global economy and politically mature, Fahmy believes the time has come for assertive global leadership from the South.

“Today, they must do the same, especially now that they are stronger and more integrated into the global system. I’m not suggesting playing one side against the other—but this is not a time for passivity. It’s a time for activism.”