During the consultative meeting with the trade ministers of the Gulf Cooperation Council countries
The Federation of Saudi Chambers calls for unifying Gulf positions in free trade agreements
The First Vice-President of the Federation of Gulf Chambers, President of the Federation of Saudi Chambers of Commerce, Mr. Ajlan bin Abdulaziz Al-Ajlan, called for increasing coordination between the positions of the private sector and the government sector in the Gulf Cooperation Council countries with regard to free trade agreements and unifying Gulf visions and positions in negotiating bilateral or free trade agreements. Negotiating accession to multilateral agreements, in order to increase the competitiveness of Gulf exports and products and their marketing worldwide.
This came during his speech at the periodic consultative meeting between Their Excellencies the Ministers of Commerce and Industry and the heads of federations and chambers of commerce in the Gulf Cooperation Council countries, which was held recently in the Kingdom of Bahrain, headed by the Bahraini Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and in the presence of His Excellency the Secretary-General of the Cooperation Council for the Arab States of the Gulf, Dr. Nayef Falah. The stone.
Al-Ajlan added that this invitation comes with the aim of providing the most favorable economic climate to encourage and develop economic and trade relations between the concerned parties, in light of the ambitious economic visions launched by the Kingdom and the Gulf Cooperation Council countries, which include huge investments and through which it seeks to diversify its economic base, and this includes the development of trade. In services, these countries are able to export a greater number of goods and services to the world, which requires increased coordination and unification of Gulf visions and positions in negotiating free trade agreements as an economic grouping, or bilateral free trade agreements.
He stressed the importance of a periodic and continuous review of the provisions of the agreements that were previously concluded and conducting research and studies to determine the best return from them clearly and accurately, in order to ensure a trade system based on sound and predictable rules, and stimulate the Gulf private sector to pump more qualitative investments in the future stage to witness more of the gains in a way that meets the common Gulf interests.
The First Vice-President of the Federation of Gulf Chambers noted the outcomes and topics of the consultative meeting, which he considered a strong addition to the economic movement witnessed by the Gulf Cooperation Council countries to strengthen their trade and investment relations in light of the challenges and economic developments taking place in the region and countries of the world, adding that the outcomes and recommendations of the meeting are in line with the trends to build a bloc A strong Gulf economy capable of competing globally, indicating that the discussions included calling for a unified Gulf law and system for commercial concessions, coordinating customs and non-customs procedures at border ports to facilitate the flow of intra-GCC trade, as well as issues of food security, electronic commerce and digital services.
Al-Ajlan concluded his statement by stressing the importance of the consultative meeting between Excellencies the Minister of Commerce and representatives of the Gulf private sector in consolidating the principle of positive partnership and continuous cooperation between governments and the private sector in shaping and improving government economic policies, and major reforms in regulations, regulations and requirements to improve the business environment and ensure the sustainability of private sector facilities.