Al-Munifi emphasizes strengthening GCC financial and economic cooperation
Meeting covered a wide range of issues, including the outcomes of the GCC Customs Union Authority
Today (Wednesday), Aseel Al-Munifi, Undersecretary of the Ministry of Finance, underscored the importance of bolstering joint financial and economic cooperation among the Gulf Cooperation Council (GCC) countries through continued dialogue and coordination on key financial matters.
Speaking at the 73rd meeting of the Committee of Undersecretaries of the Ministries of Finance of GCC countries — held in preparation for the committee’s upcoming 123rd session — Al-Munifi highlighted that the agenda is packed with vital topics aimed at enhancing Gulf financial and economic integration, reports Al-Rai daily.
She stressed the need to develop constructive recommendations that would support joint Gulf initiatives, align with the aspirations of GCC leaders, and improve the quality of life for citizens by fostering deeper coordination, integration, and unity across various sectors.
The meeting covered a wide range of issues, including the outcomes of the GCC Customs Union Authority meetings, the 14th session of the Committee of Heads and Directors of Tax Departments, proposed changes to the minimum specific duty on tobacco products in the unified customs tariff, and mechanisms for implementing Gulf standards for defining national products.
Al-Munifi also reviewed progress on the GCC economic unity program targeted for 2025, follow-ups on the implementation of resolutions from the committee’s 122nd meeting, and various issues concerning financial and economic policy coordination across the GCC.
She affirmed that GCC states remain committed to strengthening frameworks of cooperation and integration, reflecting a unified vision for advancing Gulf economic unity.
Assistant Secretary-General for Economic Affairs at the GCC General Secretariat, Khaled Al-Sunaidi, echoed her sentiments. He stated that the meeting would tackle several key issues aimed at deepening financial and economic collaboration, including recommendations from the Committee of Governors of Monetary Institutions and Central Banks, the Customs Union Authority, and the Gulf Common Market Committee.
Al-Sunaidi expressed optimism that the outcomes would lead to meaningful decisions fostering closer economic convergence among member states.
It was agreed that all recommendations resulting from this meeting would be submitted to the Financial and Economic Cooperation Committee of the GCC finance and economy ministers for review and adoption at their next session.
