Kuwait, Kuwait – Abdullah bin Touq Al Marri, Minister of Economy and Tourism, headed the UAE delegation participating in the 69th meeting of the Trade Cooperation Committee in the Gulf Cooperation Council countries.
Which was held yesterday in the State of Kuwait.
A number of topics were discussed aimed at developing economic and investment cooperation between member states and enhancing the integration of their markets.
The UAE delegation included Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism.
Abdullah bin Touq stressed that the UAE, thanks to the vision and directives of its wise leadership, is keen to support joint Gulf action in all fields.
He pointed out the importance of redoubling efforts to enhance the flexibility of the Gulf economy and expand its competitive capabilities and effectiveness as a vital center on the map of regional and global economy, investment and trade.
He explained that the committee represents a pivotal platform for coordinating Gulf economic policies and increasing the region’s openness to global trade.
He pointed out the importance of continuing cooperation in developing unified Gulf legislation, such as competition laws, consumer protection, and digital trade.
In order to establish a more integrated economic environment open to investments and economic and investment opportunities.
He explained that small and medium enterprises and entrepreneurship represent a fundamental pillar of sustainable development.
This requires activating more joint programs and initiatives to empower entrepreneurs, provide financing and insurance channels, and provide integrated services that facilitate their integration into regional and global value chains.
The committee discussed mechanisms to enhance cooperation between the GCC countries and major economic blocs, to support their presence in global markets.
The meeting also reviewed efforts made to support the investment environment.
In addition to developing unified Gulf trade legislation, including competition law, and the legislative framework for e-commerce and digital commerce.
This enhances legislative flexibility and supports the digital economy as a key driver of future growth, in addition to reviewing initiatives to support entrepreneurship.
The meeting also included following up on preparations for holding the second ministerial meeting of economy and trade ministers between the GCC countries and the People’s Republic of China.
This is to discuss prospects for cooperation between the GCC countries and China and ways to expand economic and investment partnerships between the two sides.
