Al-Ibrahim Reaffirms Saudi Arabia’s Desire to Strengthen the GCC’s Economic Unification


Faisal F. Al Ibrahim, Minister of Economy and Planning, presided over the Ministerial Preparatory Committee of the Gulf Cooperation Council (GCC) Economic and Development Authority on Tuesday in Riyadh. Source: Saudi gazette.

The Fourth Meeting Has Taken Place

RIYADH — With a focus on fostering the economic cohesion of Gulf nations, the Ministerial Preparatory Committee of the Gulf Cooperation Council (GCC) Economic and Development Authority wrapped up its fourth meeting in Riyadh on Tuesday.

The GCC ministers and senior officials met under the chairmanship of Minister of Economy and Planning Faisal F. Al Ibrahim to discuss a range of topics related to the economy and development, including the projects for the GCC Economic Unity that are managed by the Economic and Development Affairs Authority.

Strengthening the GCC Economic Integration and Unity.

Al-Ibrahim spoke at the meeting and emphasised Saudi Arabia’s desire to promote economic integration among GCC countries and to strengthen GCC economic unity.

In this regard, the Authority was established as a proposal from the Kingdom with the goals of enhancing cooperation in economic and development matters, accelerating the pace at which economic and development projects are implemented, and contributing to the accomplishment of Economic Unity.

If these plans are carried out, the Gulf Cooperation Council (GCC) region will strengthen its position as a global economic, financial, and investmen if these plans are carried outt centre.

He continued by saying that the Kingdom’s proven policies, aspirational goals, and ambitious vision place a strong Gulf Cooperation Council at the top of its list of priorities, in addition to bolstering Arab and Islamic cooperation for the benefit of the security and prosperity of the region.

In light of the current geopolitical crises and how they affect the GCC countries, he emphasised the importance of GCC economic unity in addressing global economic issues. This demonstrates how crucial it is to improve teamwork in addressing these issues and to take all necessary actions to manage and mitigate their effects.

The minister of economy and planning praised the integration of the Gulf states, saying that despite the most adverse conditions, the GCC states had proven their capacity to face and overcome various obstacles. The minister also credited God and the GCC states’ astute policies and shared standards for addressing global risks and challenges.

Who Was Present at The Meeting?

The Secretary-General of the GCC, Deputy Ministers of the Committee of Senior Officials, members of the Ministerial Committee of the Economic and Development Affairs Authority, and members of the Office of Economic and Development Affairs Authority of the Cooperation Council all attended the meeting.

What Issues Were Discussed During the Meeting?

The representatives discussed various issues that interested both parties during the meeting. These included the initiatives and projects of the Economic Unity, the management of studies on cooperative actions of Gulf nations in the areas of economy and development, and the advancement of studies and projects related to economy and development that are supervised and tracked by the Office of the GCC Economic and Development Affairs Authority.

The leading indicators of economic development in the Cooperation Council countries were also discussed during the meeting, along with the findings of the statistical survey used to gauge the degree of joint Gulf action decisions’ implementation. — SPA