Members of the Financial and Economic Cooperation Committee and the Trade Cooperation Committee of the GCC countries discussed the final report on the technical status of the free trade agreement negotiations between the GCC and China.
The conference will complete the vision of His Majesty King Salman bin Abdulaziz, Patron of the Two Holy Mosques, on strengthening joint action.
The virtual joint meeting was chaired by Oman’s Finance Minister Sultan bin Salim Al-Habsi, who is also chairman of the current session, with Saudi Finance Minister Mohammed Al-Jadaan, Commerce Minister Majid Al-Qasabi, Ministers and Deputy Minister attended. Commerce, Finance and Economy of the GCC Countries and his GCC Secretary General.
During the meeting, Ministers considered a number of issues related to enhancing financial and economic cooperation among the GCC countries.
The Committee was briefed on the recommendations of the Secretary-General’s Committee and the developments followed up by the General Secretariat.
Jadaan noted Saudi efforts to strengthen joint Gulf action under the previous session’s presidency, and underscored the Kingdom’s support for Oman under the current session’s presidency.
He made a double effort to complete the remaining steps to implement the vision of the Guardians of the Two Holy Mosques on fostering joint Gulf Action in a way that meets the aspirations of Gulf leaders. pointed out that it is necessary to
Members of the Financial and Economic Cooperation Committee and the Trade Cooperation Committee have considered procedures for establishing a customs union by the end of 2024, according to the schedule approved by the Committee.
They also followed up on completing the full implementation of the Gulf Common Market in accordance with the action plan for the period 2022-2024 in implementing the decisions of the 43rd GCC Supreme Council.
Regarding the final report on the technical status of negotiations for a free trade agreement between the GCC and China, officials considered various perspectives in preparation for submission to the Council on the negotiating team’s mandate and its mechanisms.
