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June 09, 2021
There is an urgent need to encourage more trade between GCC countries, which constitute a market of over 58 million people with a combined GDP totaling some $1.590 trillion in 2019, he added while highlighting the private sector’s key role in increasing GCC trade.
DUBAI Secretary-General of Gulf Cooperation Council (GCC) Nayef Al-Hajraf stated that the start of the recovery period from the economic effects of the coronavirus (COVID-19) pandemic, as well as the significant global economic growth, the lifting of related restrictions and lockdowns, the resumption of commercial activities and the surge in spending in many countries, require significant efforts by the public and private sectors in GCC countries if they wished to preserve the economic gains achieved before the pandemic and ensure their continued growth.
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UAE participates in 113th meeting of GCC Financial and Economic Cooperation Committee
ABU DHABI, 22nd April, 2021 (WAM) Obaid Humaid Al Tayer, Minister of State for Financial Affairs, yesterday participated in the 113th meeting of the GCC Financial and Economic Cooperation Committee, held virtually and discussed strengthening financial and economic cooperation among GCC countries.
During the meeting, the Committee discussed the recommendations submitted by the GCC Committee of Monetary Authorities and Central Banks Governors during the 76th meeting; the 25th meeting of GCC Customs Union Authority; and the Gulf Market Committee at its 30th and 31st meetings.
Also discussed were the minutes of the 8th meeting of Committee of Heads and Directors of Tax Administrations in the GCC States; the budget for supporting joint activities and programmes to develop youth work in the GCC countries; and the G20 Finance Track’s initiatives that can be issued to the GCC countries. That, in addi