GCC Secretary-General Jasem Mohamed Al Budaiwi stated that Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait are close to beginning the official process for Schengen visa-free travel. A formal announcement is expected at the second EU-GCC Summit in Riyadh on October 24. Currently, the UAE is the only GCC member state whose citizens can travel to the Schengen Area without a visa.
The fourth Emirates Perfumes and Oud Exhibition and second Middle East Cosmetics Show opened at Expo Centre Sharjah. Running through October 18, the event hosts over 200 companies and 700 brands, including participants from China and the Gulf.
A research report by Modern Diplomacy indicates that Gulf sovereign wealth funds deployed 10 percent of their 2026 capital into China and Hong Kong, compared to 45 percent directed toward the United States. Institutional investors including Abu Dhabi's Mubadala, Saudi Arabia's PIF, and the Qatar Investment Authority continue targeted exposure in Chinese technology, electric vehicles, and renewable energy sectors. The funds are balancing long-term Asian partnerships against global macroeconomic variables and tightening technology investment regulations.
The Gulf Cooperation Council's secretary-general stated that Saudi Arabia, Bahrain, Kuwait, Oman, and Qatar are very close to starting the official Schengen visa-waiver process. Positive outcomes are anticipated ahead of the GCC-EU summit in Riyadh on October 24, 2026. The UAE remains the only GCC member whose citizens currently hold visa-free short-stay access to the Schengen area.
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