Emirates news agency – UAE reaffirms support for joint GCC action to increase trade among GCC countries
ABU DHABI, October 24, 2021 (WAM) – A delegation from the United Arab Emirates, led by Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, attended the 61st meeting of the Trade Cooperation Committee of the Cooperation Council of the Gulf (CCG) which took place recently. in Manama, Bahrain.
The meeting was attended by Dr Nayef Al Hajraf, Secretary General of the GCC, as well as senior officials and trade ministers from GCC countries. The participants discussed the main topics that support the further economic and trade integration among the GCC countries, stimulate the growth of intra-regional trade, facilitate trade procedures, expand and diversify trade activities, as well as the development of trade flows between GCC countries and world markets.
Al Zeyoudi said that the UAE, under the guidance of their wise leadership, is committed to supporting the joint action of the GCC in various areas of development, as it is a constant policy of the country and a main driver for strengthening economic and trade partnerships between GCC member states.
He reiterated the UAE’s willingness to support the outcomes of the Trade Cooperation Committee, which serves as a strategic platform for formulating policies and plans that support the GCC in areas related to trade and economic activities, in order to achieve the ambitious objectives of Member States, particularly in terms of development and growth.
Al Zeyoudi continued, “The meeting discussed 4 main pillars, which are the mechanisms of intra-GCC trade flows; unified trade-related laws; e-commerce and the achievements of the GCC negotiating team in facilitating partnerships with countries and the global economy and trade. blocks. We are keen to support joint efforts to come up with the best recommendations and decisions that will lead to higher levels of trade between GCC countries, and their trade with the rest of the world. ”
The meeting discussed several topics that will strengthen economic and trade cooperation in the GCC, including enhancing the joint work of the GCC in the trade and movement of goods and commodities. Apart from this, he discussed the establishment of coordination and cooperation mechanisms in the implementation of unified specifications in GCC countries in addition to strengthening cooperation in the unification of laws relating to trade and business in GCC countries.
The Committee presented a number of initiatives to support entrepreneurs, the growth of the knowledge-based economy, SMEs and young people in all these sectors in the Gulf countries. In addition, he presented the latest achievements made by the negotiating team to facilitate partnerships and agreements of GCC states with various global markets and economic blocs.
On the sidelines of the meeting, the delegation of the United Arab Emirates also participated in the consultative meeting organized by the Secretary General of the GCC. The ministers of trade and industry and the presidents of trade unions and chambers of commerce from GCC countries participated. In addition, the delegation of the United Arab Emirates participated in a meeting with a number of entrepreneurs from the Gulf, to discuss ways of cooperation to support the business environment, develop partnerships and boost trade and business activities. investment.