The Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) held its (117th) meeting today, Monday, October 3, 2022, in Riyadh, headed by His Excellency Mr. Mohammed bin Abdullah Al Jadaan, Minister of Finance of the Kingdom of Saudi Arabia, Chairman of the current session, and in the presence of His Excellency Mr. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs of the United Arab Emirates, His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, His Excellency Mr. Sultan bin Salim bin Said Al Habsi, Minister of Finance of the Sultanate of Oman, His Excellency Mr. Ali bin Ahmed Al Kuwari, Minister of Finance of the State of Qatar, Her Excellency Mrs. Aseel Suleiman Al Munifi, Under Secretary of the Ministry of Finance of the State of Kuwait with the participation of His Excellency Dr. Nayef Falah M. Al Hajraf, Secretary General of the GCC.
During the event, Their Excellencies discussed a number of important issues related to strengthening financial and economic cooperation among the GCC member states. Moreover, they reviewed the recommendations submitted by the Committee of the GCC Central Banks Governors Committee, the GCC Customs Union Authority, the GCC Tax Administration Heads and Managers Committee, the GCC Tax Administration Committee, the GCC Common Market. They also addressed the developments of the programme concerned with achieving economic unity among the GCC member states by 2025.
The Committee also shed light on what has been accomplished regarding the remaining steps for the establishment of the customs union and the full implementation of the paths of the GCC common market according to a specific timetable before the end of 2024.