Kuwait (UNA/SPA) - The 13th consultative meeting of the GCC Ministers of Commerce and Industry with the heads and members of the chambers of commerce was held yesterday in Kuwait, in the presence of Kuwaiti Minister of Commerce and Industry Khalifa Al-Ajeel and Secretary-General of the Gulf Cooperation Council Jassim Mohammed Al-Budaiwi. The meeting discussed the challenges facing the Gulf private sector and enhancing its role in the process of development and growth.
The meeting reviewed several priority topics for joint Gulf economic action, including: addressing unilateral decisions that could negatively impact the interests of the Gulf private sector, developing a mechanism for collecting laboratory samples at customs ports, enhancing support for the pharmaceutical and medical products industries, and activating the principle of treating Gulf investors as citizens of the host country. The meeting also discussed ways to enhance cooperation between the public and private sectors to raise awareness among private sector establishments.
The meeting also discussed the "Tawasul" initiative, which aims to create a direct interactive platform between government agencies and the private sector to monitor existing challenges and identify investment opportunities across various sectors.
The Secretary-General of the Gulf Cooperation Council (GCC) emphasized that the meetings represent an important dialogue platform for strengthening partnerships and achieving Gulf economic unity. He noted that the volume of intra-GCC trade reached $131 billion in 2023, a growth of 3.3%, while the volume of foreign merchandise trade reached $1.5 trillion, a growth of 4%.
He explained that these economic indicators point to promising opportunities that should be leveraged to enhance joint Gulf cooperation in all commercial fields.
For his part, Faisal Al Rawas, Chairman of the Federation of Chambers of the Gulf Cooperation Council (FGCCC), emphasized the importance of unifying economic policies to address global challenges. He praised the role of the private sector as a key partner in development, noting the success of 12 consultative meetings and the discussion of 58 key challenges, many of which were addressed through practical solutions. He affirmed the Federation's determination to continue its efforts to overcome the remaining challenges.
(is over)
