Kuwait participates in the 76th meeting of the Committee of Finance Ministers of the Gulf Cooperation Council

The Committee of Finance Ministers’ Deputies of the Gulf Cooperation Council (GCC) held its 76th meeting today via video conference, as part of preparations for the 126th meeting of the Financial and Economic Cooperation Committee.

The meeting was chaired by Yousef Abdullah Al-Hamad, Deputy Minister of Finance and National Economy for Financial Affairs of the Kingdom of Bahrain. The Kuwaiti side was represented by Asil Al-Manifi, Deputy Minister of Finance, alongside several officials from the Ministry of Finance.

The meeting discussed a number of financial and economic issues of mutual interest among GCC member states, including the outcomes of the meetings of the Committee of Central Bank Governors, the completion of requirements for establishing the Customs Union, and the results of the meetings of the Committee of Heads and Directors of Tax Authorities. It also addressed completing the requirements for the Common Gulf Market to fulfill the conditions for Gulf citizenship among GCC member states.

The meeting also reviewed developments in the program for achieving economic unity among GCC member states, updates on the progress of free trade negotiations between GCC member states and other countries and groups, and follow-up on the implementation of the decisions of the 125th meeting of the Financial and Economic Cooperation Committee. In addition, it examined several topics related to enhancing financial and economic integration among GCC member states.

The deputies expressed their consensus on the overall agenda items and reaffirmed the GCC member states’ commitment to consolidating financial and economic cooperation and strengthening shared ties, in line with the aspirations of His Highnesses and Their Excellencies, the leaders of the GCC member states, to achieve further integration in the path of the common Gulf work.

It is worth noting that the meeting concluded with an agreement to submit the recommendations resulting from the committee’s work to the Financial and Economic Cooperation Committee at the ministerial level of finance and economy in the GCC member states, in preparation for their adoption at the upcoming meeting.