Riyadh-GCC ministers of commerce have met at the 54th meeting of the GCC Commercial Cooperation Committee held at the council’s headquarters in Riyadh. Participants discussed joint efforts in the economic and development fields.
Saudi Minister of Commerce and Investment Majed al Qasabi stressed on the GCC leaders’ keenness on economic integration among member states and on setting regulations and rules that will promote the joint Gulf work and commercial and economic cooperation to serve joint interests following the vision of King Salman bin Abdulaziz, the Custodian of the Two Holy Mosques.
He added that holding the first meeting of the GCC Commission of Economic and Development Affairs highlights the GCC leaders’ eagerness on enhancing the joint work in economic and development fields based on the set timeline.
Assistant Secretary General of economic and development affairs said that the 36th session of the Supreme Council held in December 2015 in the Saudi capital has emphasized the importance of Gulf commercial citizenship, considered a priority of the Joint Gulf Work.
He added that the GCC has achieved advanced positions in the economic and developmental indexes worldwide; in 2013, the GCC’s GDP reached USD1.64 trillion.
The Secretary General noted that GCC countries have come in 12th position in terms of GDP worldwide with USD1.6 trillion in 2013, and came fifth in global trade exchange with USD932 billion.
He finally said that the directives of GCC leaders and the ambitions of the Gulf people have exceeded the fulfilled achievements.