The Gulf Cooperation Council (GCC) recently held its 121st meeting in Doha, Qatar, with Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, leading the UAE delegation. The meeting focused on various aspects of economic cooperation within the Gulf region.
During the meeting, the UAE presented a vision for measurable targets and indicators for awareness programs in the Gulf common market, which was approved. The strategic outputs of the Customs Union Authority for the years 2024-2026 were also approved, including an integrated customs tariff schedule for GCC countries.
Discussions were held on the progress of negotiations for a free trade agreement among GCC countries, as well as the signing and ratification of the payment linkage system agreement. The program aimed at achieving economic unity among GCC countries by 2025 was also reviewed.
The UAE delegation included officials from the Ministry of Finance and the Federal Authority for Identity, Citizenship, Customs and Port Security. Mohammed bin Hadi Al-Husseini emphasized the importance of overcoming obstacles to achieve economic unity and coordinated efforts among GCC countries for a successful customs union.
The committee also discussed the results of various meetings, including those of the Customs Union Authority, Central Bank Governors Committee, and Joint Market Committee. Plans for a joint Gulf event at the International Monetary Fund headquarters were also discussed.
Overall, this meeting focused on enhancing economic cooperation and integration among GCC countries to achieve prosperity and sustainable development in
