His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), affirmed that many achievements and gains have been realised in the GCC economic and financial sphere, strengthening its integration and supporting its financial stability to confront all developments and challenges.
This came during the 125th meeting of the Financial and Economic Cooperation Committee of the GCC states, held on Thursday (May 14, 2026) via videoconference, chaired by His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, President of the current session, and attended by Their Excellencies the Ministers of Finance and Economy of the GCC states.
At the beginning of his speech, HE the Secretary General extended the highest expressions of thanks, appreciation and gratitude to His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain and President of the current session of the Supreme Council, for the facilities and support provided by the Kingdom of Bahrain to ensure the success of the work of the Cooperation Council, and for the support and attention accorded by His Majesty to joint Gulf action, as well as to Their Majesties and Highnesses, the Leaders of the GCC states across all fields.
“Today’s meeting is being held at a critical stage following the blatant Iranian attacks that targeted the GCC states, which require us all to move from the level of traditional coordination to a higher level of practical integration and effective response,” His Excellency stated.
He continued: “The rapid crises and growing economic challenges witnessed in the region highlight the urgent need for a conscious response to these developments, and for taking the necessary measures to address their impact on the economies of the GCC states, which have long been characterised by their openness and interaction with the global economy.”
In the same context, HE the Secretary General emphasised the directives of Their Majesties and Highnesses, the Leaders of the GCC states, during the 19th Consultative Meeting, held in Jeddah on April 28, 2026, on the need to expedite the completion of the requirements for achieving access to all joint GCC projects, including transport and logistics services, while accelerating the implementation of the GCC railway project and enhancing the GCC electricity interconnection project. This is in addition to studying the establishment of pipelines for the transportation of oil and gas, the GCC water interconnection project, moving forward with studying the establishment of areas for GCC strategic reserves, and taking into account the liquidity reserves of central banks.
He further commented: “Anyone following the journey of the GCC since its establishment, and the decisions taken within the framework of joint Gulf action, can clearly recognise that diligent efforts have been exerted and that many achievements and gains have been realised in the economic and financial sphere.”
His Excellency added: “In line with the directives and aspirations of Their Majesties and Highnesses, the Leaders of the GCC states, we all aspire to further coordination, cooperation, integration and interdependence across all fields, particularly the financial and economic field, given its direct connection to achieving prosperity and wellbeing for the citizens of the GCC states.”
