His Excellency Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, met yesterday with His Excellency Jasem Mohamed AlBudaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf, to discuss ways of enhancing and activating GCC financial and economic cooperation.

His Excellency Younis Haji Al Khoori, Undersecretary of Ministry of Finance; and His Excellency Khalid bin Ali Al Sunaidi, Assistant Secretary General for Economic and Development Affairs at the General Secretariat of the GCC; attended the meeting, along with representatives from the Ministry of Finance and the Secretariat General of the Gulf Cooperation Council.

His Excellency Mohamed Bin Hadi Al Hussaini reaffirmed the UAE’s commitment to continue supporting joint Gulf action in order to achieve economic growth and prosperity in the GCC, and to meet the aspirations of the GCC people. His Excellency said: “The UAE is committed to following up the progress of the GCC financial and economic integration process and strengthening cooperation among the GCC member states. The UAE is also keen to exert utmost efforts to complete the establishment of the GCC Customs Union and implement the tracks of the GCC Common Market to improve the quality of life for GCC people and achieve comprehensive and sustainable development.”

During the meeting, both parties reviewed the follow-up report on the measures that have been taken to date to complete the remaining steps of establishing the GCC Customs Union in accordance with the timeline approved by the GCC Financial and Economic Cooperation Committee. They also reviewed the follow-up report on completing the full implementation of the GCC Common Market tracks in accordance with the GCC Common Market action plan for the period 2022-2024, which has also been approved by the committee.