Al-Jadaan: Intensive steps are taken to achieve coordination and integration among the GCC countries in all fields

The Ministers of Finance and Economy of the Cooperation Council for the Arab States of the Gulf held today, by default, the 115th extraordinary meeting of the Financial and Economic Cooperation Committee, headed by His Excellency the Minister of Finance – Chairman of the current session – Mr. Muhammad bin Abdullah Al-Jadaan, and the participation of His Excellency the Secretary-General of the Cooperation Council, His Excellency Dr. Nayef Falah Al-Hajraf, in the presence of A number of officials and specialists.

During the meeting, the ministers reviewed the progress made in issues related to strengthening financial and economic cooperation between the GCC states. They were briefed on the economic decisions issued by the Supreme Council at its 42nd session and the plan to complete the remaining steps for the establishment of the customs union, as well as the recommendations of the Customs Union Authority, and the recommendations of the Gulf Common Market Committee. , and other topics related to joint financial and economic cooperation, with the mechanisms of their implementation in accordance with the approved plans, in a manner that serves the common interests, in addition to discussing a number of topics aimed at enhancing financial and economic integration among the countries of the Gulf Cooperation Council.

For his part, His Excellency Al-Jadaan welcomed the members of the Committee and His Excellency the Kuwaiti Minister of Finance, Mr. Abdulwahab Al-Rasheed, on the occasion of his attendance at his first meeting in the Committee, extending his thanks to His Excellency the former Kuwaiti Minister of Finance, Mr. Khalifa Hamadeh, for his efforts to promote joint Gulf action, noting that there are vigorous steps to achieve Coordination, integration and interdependence among the GCC states in all fields, and the removal of obstacles that prevent this from being achieved.

His Excellency also affirmed the Kingdom’s keenness, during the year of its presidency, to redouble efforts to complete the remaining steps to implement the vision of the Custodian of the Two Holy Mosques, may God preserve him, regarding the promotion of joint Gulf action, with the need to raise the pace of coordination among all the GCC states to complete the establishment of the customs union and implement the tracks of the Gulf common market, in order to reach to economic unity by 2025.

He also stressed the importance of seeking to overcome the obstacles facing the joint Gulf action, by achieving a qualitative leap in cooperation and consensus among the GCC states at various levels and fields, praising the role of the General Secretariat in expanding aspects of joint cooperation, in line with global developments and the visions of the GCC countries towards the future.

It is noteworthy that the meeting of the Financial and Economic Cooperation Committee is held periodically to discuss all topics related to the joint Gulf economic work and the developments of legislation and economic measures adopted by the GCC countries in order to achieve the common strategic interests in the long term.


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