Kuwait participates in the 126th meeting of the Financial and Economic Cooperation Committee of the GCC
Kuwait participated in the 126th meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC), held in the Bahraini capital of Manama. The Kuwaiti delegation was chaired by Minister of Finance Dr. Yaqoub Al-Rafai, alongside the finance and economy ministers of the GCC member states.
The meeting was held to enhance financial and economic cooperation and coordination among GCC member states, and to support the progress of joint Gulf action. The Committee reviewed recommendations submitted by the Committee of Central Bank Governors, the GCC Customs Union Authority, and the Common Market Committee, as well as the latest developments in negotiations on free trade agreements between the GCC and other international countries and groups, aiming to complete the trajectory of Gulf economic integration.
The Committee emphasized the importance of accelerating financial and economic integration among GCC member states, enhancing the alignment of customs and tax policies, facilitating trade and investment flows, improving the efficiency and resilience of supply chains, bolstering the competitiveness of the Gulf economy, and creating a more integrated economic environment capable of keeping pace with international economic changes and challenges.
On the sidelines of the Financial and Economic Cooperation Committee meeting, a joint session was held with the finance and economy ministers and central bank governors of the GCC member states, the GCC Secretary-General, and IMF Managing Director Kristalina Georgieva. Georgieva presented a report titled “Economic Outlook and Policy Challenges in the GCC and Enhancing Economic Resilience to Geopolitical Shocks.”
The report highlighted key policy-related economic challenges and ways to strengthen economic resilience and enhance the GCC’s capacity to confront geopolitical shocks and their repercussions, thereby supporting stability and sustainable economic growth in the region. The meeting also discussed several papers and topics, including the economic outlook and policy challenges, economic resilience and security in the GCC, and digital assets in GCC countries—examining current realities, opportunities, and financial risks.
The joint meeting aligns with efforts to strengthen the regional and international presence of the GCC, reflecting the member states’ commitment to supporting international dialogue and coordination on priority financial and economic issues.
During its participation in the Financial and Economic Cooperation Committee meeting, Kuwait reaffirmed its commitment to continuing support for joint Gulf economic action, enhancing cooperation and integration frameworks among GCC member states, contributing to the achievement of sustainable development goals, and consolidating the position of the Gulf system as an integrated economic bloc capable of keeping pace with global economic transformations and capitalizing on future opportunities.
