His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the final statement of the 41st Supreme Council session, the Sultan Qaboos and Shaikh Sabah Summit (January 2021, Al-Ula), by Their Majesties and Highnesses the leaders of the GCC states, affirmed the importance of continuing to support and encourage small and medium-sized enterprises (SMEs).
"This stems from their belief in the SMEs' vital role and contribution to the economies of the Council states, especially since SMEs play a major role in building the world's largest economies due to their direct and vital role in driving global economic development." His Excellency stated.
These remarks were made during the fifth meeting between entrepreneurs and Their Excellencies the Ministers of Industry and Commerce of the GCC states, held today, Wednesday, October 29, 2025, in the State of Kuwait. The meeting was chaired by His Excellency Mr Khalifa Abdullah Al Ajeel, Minister of Commerce and Industry of the State of Kuwait—president of the current session—and attended by Their Excellencies the Ministers of Commerce from the GCC states.
At the beginning of his speech, His Excellency the GCC Secretary General extended his highest sentiments of thanks, appreciation, and gratitude to His Highness Shaikh Meshal Al Ahmad Al Jaber Al Sabah, the Amir of the State of Kuwait, for Kuwait's hosting of this blessed meeting, as well as for the facilities and support the State of Kuwait has provided and continues to provide for the success of the GCC's work, in addition to the backing and attention that joint Gulf action receives from His Highness and his brothers, Their Majesties and Highnesses the leaders of the GCC states, in all fields.
He praised their wise directives and their keenness to support joint Gulf action, lauding the sincere efforts made to enhance cooperation and joint integration among GCC states in the field of supporting and encouraging small and medium enterprises, which play a vital and decisive role in achieving the goals and focus of the national visions of the GCC states.
"Cooperation in the commercial field among GCC states is a fundamental pillar of joint Gulf action and has received significant importance and attention from Their Majesties and Highnesses the leaders of the GCC states since the beginning of the Council's blessed journey in 1981. This is being achieved by providing a comprehensive legislative environment to realise commercial integration among the Council states." His Excellency highlighted.
He also noted that the entrepreneurs' meeting with Their Excellencies the Ministers of Industry and Commerce constitutes a high-level strategic dialogue platform.
"It brings together policymakers and decision-makers on one side, and project owners and entrepreneurs on the other, within an institutional framework that enhances integration between the economic policies and development visions of the GCC states. It allows for the exchange of experiences and the exploration of promising opportunities in the sustainable development journey.
"It also reflects the GCC states' commitment to consolidating the partnership between the public and private sectors, strengthening the role of entrepreneurs in driving growth and economic diversification, and expanding the production base, thereby cementing the Gulf economy's position as one of the influential economies in the global economic system." His Excellency explained.
Moreover, His Excellency stated that intra-GCC trade has witnessed ascending growth, reaching 9.8% in 2024, compared to 5.0% in 2023.
"This clearly reflects the depth of Gulf economic interdependence and the expanding horizons of joint trade and investment cooperation, as one of the pillars of joint Gulf action towards achieving comprehensive economic integration." His Excellency pointed out.
In concluding his speech, His Excellency the GCC Secretary General expressed his aspiration for this dialogue to lead to initiatives that support the growth of the entrepreneurship sector in the GCC states, making it a strong economic tributary for the economic and developmental stability experienced by the Council states, and enhancing their international position as a global financial, investment, and economic centre.
