GCC Secretary-General: Trade Cooperation Key Driver of Economic Integration

Manama, Oct 6 (KUNA) -- Secretary-General of the Gulf Cooperation Council (GCC) Jassem Al-Bedaiwi affirmed that trade cooperation constitutes one of the primary drivers of the GCC’s economic integration journey and a vital tool for strengthening the interconnection of the member states’ economies, expanding opportunities for the private sector, and enhancing competitiveness, ultimately achieving the desired GCC economic unity.

This came during a speech delivered by Al-Bedaiwi at the 71st meeting of the GCC Trade Cooperation Committee, held in Manama on Tuesday under the chairmanship of Bahrain’s Minister of Industry and Commerce Abdullah Al-Fakhro, and attended by Kuwait’s Minister of State for Economic Affairs and Investment and Acting Minister of Commerce and Industry Abdulaziz Al-Marzouq, along with the commerce ministers of the GCC member states.

Al-Bedaiwi stated that GCC countries continue their efforts to consolidate the achievements of joint GCC economic work, noting that they are advancing the development of the Common Market and enhancing trade integration to bolster its status as a leading global economic and trade hub. At the same time, they are keeping pace with global economic changes and challenges, accelerating initiatives and projects that promote growth and competitiveness and open broader horizons for trade and investment.

He noted that these efforts, supported and guided by the leaders of the GCC states, have resulted in a strong economic foundation and growing intra-GCC trade, as reflected by a range of GCC economic and trade indicators.

He clarified that these indicators confirm the strength and growing integration of the GCC member states’ economies, as well as the promising opportunities offered by the Common Market to further enhance trade, investment, and the role of the private sector. (End) K.N.A. / M.A.A.