The Kuwait Chamber of Commerce and Industry actively participated in the 63rd meeting of the Board of Directors of the Federation of Gulf Cooperation Council Chambers, convened on December 21 in Doha, Qatar. The delegation from the Chamber, led by Director General Rabah Al-Rabah, included Assistant Director General Imad Al-Zaid and the Director of Business Relations at the Kuwait Chamber of Commerce and Industry, Fahd Al-Saghir.
The agenda of the 63rd meeting encompassed discussions on key topics such as the establishment of a Gulf clearing company, the issues of local content and the Gulf certificate of origin. Additionally, the draft work program of the General Secretariat of the Union for the year 2024 and the estimated budget for the year 2024 were reviewed, reports Al-Anba daily.
During the meeting, the Board of Directors, in its 63rd session, held the authority to examine the outcomes of the consultative meeting with the Ministers of Trade and Industry in the Gulf Cooperation Council countries. Emphasis was placed on the pivotal role of the Gulf private sector, alongside the government sector, to achieve further developmental milestones, advance the Gulf process, and strengthen cooperation and collective integration among the Council countries.
The discussion also delved into the examination of the feasibility of establishing a Gulf logistics company, and members were briefed on the preliminary agenda for the upcoming 64th meeting of the Union Council.
Members of the Union underscored the significance of the Gulf private sector and expressed their eagerness to expedite the implementation of all Gulf economic integration initiatives, including the customs union and the Gulf common market. This collaborative effort would be in coordination with the General Secretariat of the Gulf Cooperation Council.
Furthermore, the Board of Directors meeting addressed emerging economic challenges at both regional and global levels. The imperative of collective action, intensified cooperation, and joint planning among member states to confront these challenges were highlighted. The commitment to work diligently towards enhancing the growth, stability, development, and integration of Gulf economies was strongly emphasized.