Saudi finance minister: important steps to achieve integration in the Gulf

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, chaired by the Saudi Minister of Finance Muhammad bin Abdullah Al-Jadaan , -President of the session in course – and the participation of the Secretary General of the Cooperation Council, Dr. Nayef Falah Al-Hajraf, in the presence of numerous officials and specialists.

During the meeting, ministers reviewed the progress made in matters relating to strengthening financial and economic cooperation between GCC states, were briefed on economic decisions issued by the Supreme Council at its 42nd session and on 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 issues related to joint financial and economic cooperation, with the mechanisms for their implementation in compliance with plan approval, in in order to serve common interests, as well as discussing a series of issues aimed at strengthening financial and economic integration between the countries of the Gulf Cooperation Council.

For its part, Al-Jadaan welcomed the members of the commission and the Kuwaiti Finance Minister Abdulwahab Al-Rasheed in the occasion of his participation in his first meeting in commission, extending its thanks to former Kuwaiti Finance Minister Khalifa Hamadeh for his efforts to promote joint action in the Gulf, noting that there are active steps to achieve coordination, integration and interdependence between the countries of the Advice in all areas and removing obstacles that prevent this from being achieved.

He also stressed the Kingdom’s willingness, during the year of his presidency, to redouble efforts to complete the remaining steps to implement the Guardian of the Two Holy Mosques vision, may God keep him, regarding the promotion of joint action. of the Gulf, with the need to increase the pace of coordination between all GCC states to complete the establishment of the customs union and implement the traces of the common market of the Gulf, to achieve economic unity by 2025.

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

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

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