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In line with its commitment to progress the development of the Gulf common market, based on Cooperation Council for the Arab States of the Gulf’s (CCASG) directives; the Ministry of Finance (MoF) hosted an introductory workshop on GCC joint action decisions in Dubai today. The workshop was held in collaboration with CCASG and attended by representatives of GCC ministries of finance, CCASG staff, in addition to a large group of researchers and concerned parties.
Attendees included HE Younis Haji Al Khouri, Undersecretary of MoF and HE Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector at MoF. The workshop featured two presentations, including one on Gulf Common Market development statistics, and another about the GCC financial market. A set of papers related to joint GCC initiatives were also presented at the event, which explored the development of the Customs Union of the GCC States, Gulf commerce and industry, and decisions relating to work, education, health, in addition to the role of the media in raising awareness of decisions for joint action. The workshop concluded with a working paper submitted by MoF, which covered the UAE's role in promoting Gulf citizenship.
During his open speech at the workshop, HE Younis Haji Al Khouri welcomed the participants to the UAE. HE also stressed the importance of continuing to organise similar events, in order to clarify the resolutions of GCC joint action, and enhance awareness of Gulf citizenship and financial and economic integration among the GCC countries.
HE added: “In light of current regional and international changes, the cooperative relationship between GCC countries is of great value, helping to enhance the Member States’ ability to achieve social and economic security and stability. This falls under the provisions of Article IV of the GCC’s set of laws, which calls for the achievement of coordination, integration and interdependence among Member States in all fields, to maintain unity, deepen and strengthen relations, and enhance cooperation between their people.”
The working paper that HE Khalid Ali Al Bustani presented on behalf of MoF covered a range of topics, which illustrated GCC common market successes achieved by the UAE. Additionally, HE Al Bustani explored means of supporting the foundations of Gulf economic integration, such as removing all trade barriers and facilitating the movement of production, as well as coordinating economic policies and then consolidating them. HE also explained the structure of GCC joint economic action, in addition to the adopted stages to deepen financial and economic integration in the Gulf, support the Customs Union of the GCC States in reaching the final stage, and to strengthen the GCC common market.
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