H.E. Thani bin Ahmed Al Zeyoudi, Minister of State for Overseas Commerce, led the UAE delegation on the sixty fourth GCC Commerce Cooperation Committee assembly, which occurred just lately in Muscat, Oman. The delegation consisted of H.E. Abdulla Al Saleh, Undersecretary of the UAE Ministry of Economic system; and Abdullah Sultan Al Fan Al Shamsi, Assistant Undersecretary for the Monitoring and Observe Up Sector on the Ministry of Economic system.
H.E. Al Zeyoudi emphasised that the UAE is dedicated to selling cooperation amongst GCC states, in implementation of its clever management’s directives to create sustainable means to advertise the bloc’s socio-economic growth, thus guaranteeing the prosperity of its folks.
The assembly was attended by H.E. Jassim Muhammad Al Budaiwi, GCC Secretary Basic, in addition to ministers and officers involved with the commerce sector in all member states. The assembly addressed key points that help financial and commerce integration amongst GCC nations. These included procedures for finishing the institution of GCC Customs Union on schedule earlier than the tip of 2024; the unified commerce legal guidelines of 2023; in addition to the mechanisms to encourage investments in joint initiatives in GCC states. Apart from, the assembly mentioned enhancing personal sector participation in these initiatives by way of learning the formation of a technical committee on funding.
Moreover, the assembly explored means to spice up commerce exchanges between the member states to help their sustainable financial growth and promote their flexibility and competitiveness, in addition to the updates to the negotiation crew with nations within the GCC. The upcoming Gulf-Turkish discussion board, which is about to be held in Istanbul, Turkey, from 4-5 October 2023, and its function in selling funding cooperation between the 2 sides, particularly within the fields of agriculture, meals, infrastructure, transportation, logistics, tourism, finance, and vitality have been additionally mentioned.
H.E. Al Zeyoudi added: “The UAE acknowledges the Committee’s key function in creating new means to help GCC’s joint efforts in all very important fields, by way of proposed key matters on its agenda. These matters help additional financial integration between member states, consolidating the bloc’s place as a lovely vacation spot for sustainable investments. It can assist create extra sustainable job alternatives in new financial system sectors and improve their contributions to our nationwide GDPs.”
Moreover, H.E. Al Zeyoudi affirmed the UAE’s help for all outcomes of the newest Committee assembly. He underlined the need to advertise private-government sector partnerships in GCC nations; provide all progress enablers for startups basically, and superior tech corporations particularly, contemplating them as key pillars of a information financial system primarily based on innovation.
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