Emirates News Agency – The Emirates affirms its support for Gulf integration efforts to increase trade exchange and enhance the flow of trade movement

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ABU DHABI, 24th October / WAM/ His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, headed the UAE delegation participating in the 61st meeting of the GCC Commercial Cooperation Committee, which was held recently in the Bahraini capital, Manama.

The meeting, in which His Excellency Nayef Al-Hajraf, Secretary-General of the Gulf Cooperation Council, ministers and officials concerned with the trade file in the GCC countries participated, discussed a number of items that support economic and trade integration among the GCC countries, increase the rates of intra-regional trade, facilitate its procedures, expand and diversify its activities, as well as develop Trade between the GCC countries and global markets.

His Excellency Dr. Thani Al Zeyoudi stressed that the UAE, under the directives of its wise leadership, is committed to supporting joint Gulf action in various development fields, as it is a stable policy for the state and an engine for the development of economic and commercial partnerships at the Gulf level.

His Excellency indicated that the state is keen to support the outputs of the Trade Cooperation Committee, as it is a main platform for formulating policies and plans in support of Gulf cooperation in the fields of trade and economic activities to serve the aspirations of the GCC states for prosperity and growth.

His Excellency added that the items on the committee’s agenda would give a new impetus to the efforts of Gulf economic and commercial integration, and said: “The meeting discussed 4 main axes in this regard: mechanisms for the flow of trade between the GCC states, unified laws related to trade, and the e-commerce file, The developments of the negotiating team of the GCC countries with countries and global economic and trade blocs. We are keen to support joint efforts within the framework of the committee to come up with the best recommendations and decisions that will lead to higher levels of trade among the GCC countries, as well as their trade with the world.”

The committee’s agenda included a wide range of items aimed at enhancing Gulf economic and commercial cooperation, most notably activating the joint Gulf action in trade, enhancing the flow of goods and merchandise movement, establishing mechanisms for coordination and cooperation in implementing the unified Gulf specifications among the GCC states, as well as enhancing cooperation in laws Unified procedures related to trade and doing business in the GCC states, such as competition, consumer protection and unified Gulf commercial agencies.

The committee also reviewed a number of initiatives to support the activities of entrepreneurs, the knowledge economy, small and medium enterprises, and the empowerment of youth in these sectors in the GCC countries, in addition to reviewing the developments of the negotiating team with countries and international blocs to activate partnerships and trade agreements for the GCC countries with global markets.

On the sidelines of the meeting of the Commercial Cooperation Committee, the state delegation headed by His Excellency Thani Al Zeyoudi participated in the consultative meeting organized by the General Secretariat of the Cooperation Council for the Arab States of the Gulf between Their Excellencies the Ministers of Trade and Industry in the GCC countries and the heads of the federations and chambers of the Gulf Cooperation Council countries.

The delegation also participated in a meeting with a number of Gulf entrepreneurs, to discuss ways of cooperation in supporting the business environment, developing partnerships, trade and investment activities at the level of the private sector in the GCC countries, and enhancing the contribution of the entrepreneurship sector and small and medium enterprises in economic activities.

-Mil-

Wam/ Emad Al Ali





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