Saudi Arabia Engages in GCC Financial and Municipal Affairs Talks in Qatar

Doha, Qatar: Financial and Economic Cooperation Committee of the Gulf Cooperation Council Building on its commitment to regional economic integration, Saudi Arabia actively participated in the 121st meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) in Doha, Qatar. Leading the charge, Finance Minister Mohammed Al-Jadaan headed the Saudi delegation, which engaged in discussions on various topics. These discussions, in turn, were aimed at enhancing economic cooperation among GCC nations.

Convening alongside their counterparts, Ministers from GCC countries focused on reviewing strategies for bolstering financial and economic ties. The meeting, chaired by Qatari Finance Minister Ali bin Ahmed Al-Kuwari, provided a platform for these discussions. Key items on the agenda included recommendations from the Undersecretaries of Ministries of Finance Committee and updates from the GCC Secretariat General.

Empowering GCC Institutions

The committee, after its deliberations, emphasized the importance of strengthening the GCC Customs Union Authority. This emphasis stemmed from a desire to enhance the Authority’s operational capabilities and bring them in line with international standards.

Secretary-General Jassim Mohammed Al-Budaiwi, following the committee’s statement, highlighted the pivotal role of the committee in promoting cooperation and integration across GCC economies. Al-Budaiwi’s remarks served to underscore the committee’s significance in fostering regional economic ties.

Shifting gears, Al-Budaiwi then outlined the optimistic economic prospects for GCC nations. This optimistic outlook was based on projections of robust growth rates surpassing global averages. Despite the presence of global challenges, the GCC economy is expected to expand significantly, driven by the resilience of non-oil sectors.

Municipal Affairs Collaboration

Meanwhile, Saudi Minister of Municipal, Rural Affairs, and Housing Majid Al-Hogail led the Kingdom’s delegation at the 27th meeting of the Committee of Ministers concerned with municipal affairs among GCC countries. During the meeting, Al-Hogail emphasized the importance of active participation from the private sector in enhancing municipal cooperation.

Building on this emphasis, Al-Hogail urged member states to showcase joint achievements in municipal affairs at international platforms and sign agreements with specialized organizations. This focus on collaboration extends to the upcoming Gulf Municipal Work Conference in Riyadh, which aims to facilitate greater collaboration and innovation in the municipal sector.

The engagements in Doha, along with the upcoming conference, underscore Saudi Arabia’s commitment to fostering regional cooperation and driving economic growth within the GCC framework. As the region navigates through global economic challenges, such collaborative efforts become increasingly instrumental in ensuring resilience and prosperity for member states.

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