Gulf economic integration to strengthen UAE’s role

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Gulf economic integration to strengthen UAE's role

Gulf economic integration to strengthen UAE’s role

(Abu Dhabi) – The Ministry of Finance (MoF) organised an introductory meeting on Gulf Economic Integration at the Ministry of Presidential Affairs in Abu Dhabi to strengthen the UAE’s strategic role in this area.
The meeting was held in the presence of Hamad Abdul Rahman Al Madfaa, Secretary General of the Supreme Council Affairs of the Federation at the Ministry of Presidential Affairs; Younis Haji Al Khoori, Undersecretary of MoF; along with Ibrahim Al Mahmood and Dr Ibtisam Al Ketbi, UAE representatives at the advisory committee of GCC countries.
The meeting aimed to raise awareness and provide information about Gulf financial and economic integration, the positive impact it has on citizens, institutions and the private sector, in addition to highlighting the UAE’s strategic role on a GCC-wide level.
The Ministry is also keen to work alongside its strategic partners to set future plans and to receive their feedback and suggestions to support the integration process.
During the meeting, MoF’s delegation presented five main elements, including an overview of the GCC-joint economic action, strategic projects, implementation processes for these projects, results and achievements on a GCC level; in addition to the Ministry’s role in supporting projects that promote economic integration and collaboration between GCC countries.
Commenting on the meeting, Younis Haji Al Khoori emphasised the ministry’s commitment towards strengthening Gulf economic integration, whilst also introducing its role in reviving the economic movement of these countries.
Al Khoori added: “The UAE is committed to implementing the provisions of the unified economic agreement between GCC countries. The ministry’s establishment of a unit for the Cooperation Council for the Arab States in the Gulf is considered an important step in developing the work related to Gulf economic integration, especially with regards to following up on the implementation of projects and laws issued by the Gulf Cooperation Council.”
The meeting also focused on the ministry’s achievements in strengthening Gulf economic integration, as it has raised 20 proposals to the General Secretariat of the Cooperation Council for the Arab States of the Gulf in this regard, whereby the Secretariat adopted most of them.
The Ministry managed to address 13 out of 15 complaints received. The ministry’s work team will continue to work on all inquiries related to implementing GCM principles and achieving equality among GCC citizens, specifically through the electronic gateway for complaints and inquiries (GCC Takamul) which can be found on the ministry’s website.
The Ministry also works on issuing an annual statistical report of the Gulf Common Market, in addition to organising seminars and meetings in universities, institutions and government and private sectors.