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From the 8th until the 15th century, Venetian and genoese merchants held the monopoly of European trade with the Middle East. The silk and spice trade, involving spices, incense, herbs, drugs and opium, made these Mediterranean city-states phenomenally rich. Spices were among the most expensive and demanded products of the Middle Ages.
U.S.–Middle East Free Trade Area: Established in 2003 by the United States, this aimed to gradually increase trade and investment in the Middle East by assisting countries to implement domestic reforms and protecting private property rights. Euro-Mediterranean free trade area: The initial aim is to create a matrix of Free Trade Agreements.
Money, land and trade: an economic history of the Muslim Mediterranean. I.B.Tauris. ISBN 978-1-86064-699-7. Zvi Yehuda Hershlag (1980). Introduction to the modern economic history of the Middle East. Brill Archive. ISBN 978-90-04-06061-6. Timur Kuran (2011). The Long Divergence: How Islamic Law Held Back the Middle East. Princeton University Press.
The Middle East is an artificial construct created by British and French diplomats after World War I, and the recent collapse of Syria has led to calls for the region to be divided according to ...
The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization.
The Middle East, it turned out, possessed the world's largest easily untapped reserves of crude oil, the most important commodity in the 20th century. The discovery of oil in the region made many of the kings and emirs of the Middle East immensely wealthy and enabled them to consolidate their hold on power while giving them a stake in ...
Trade played an important role in the spread of Islam in some parts of the world, such as Indonesia. [6] [7] During the early centuries of Islamic rule, conversions in the Middle East were mainly individual or small-scale. While mass conversions were favored for spreading Islam beyond Muslim lands, policies within Muslim territories typically ...
The Via Maris (purple), King's Highway (red), and other ancient Levantine trade routes, c. 1300 BCE. The King's Highway was a trade route of vital importance in the ancient Near East, connecting Africa with Mesopotamia. It ran from Egypt across the Sinai Peninsula to Aqaba, then turned northward across Transjordan, to Damascus and the Euphrates ...