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GCC urged to keep up with world economic development

May 15, 2018 8:45 AM
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GCC urged to keep up with world economic development

Kuwait, May 15 (BNA): Kuwaiti Minister of Finance Nayef Al Hajraf said it is significant for Gulf Cooperation Council (GCC) countries to keep abreast of swift world economic development through uniform economic visions.

Addressing the one-day meeting of the GCC Financial and Economic Cooperation Committee, held in Kuwait, the minister called on GCC countries to harness all capabilities and potentials to fulfill the objectives of the GCC leaders by means of creating a strong economic bloc able to vie with other global economic groups.

This meeting is considered a means and tool for attaining Gulf economic cooperation and translating GCC directives into action programmes and turning ambitions into tangible reality, he said.

The meeting is part of key gatherings purposed to prop up Gulf economic integration, the minister pointed out.

"In spite of the accomplishments achieved on the ground, there is still a long way to meet the hopes and ambitions of our people in a proper fashion," he said.

The GCC is made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. It was founded in 1981 in Abu Dhabi.

GCC Secretary-General Abdul Latif Al-Zayani lauded Kuwait's efforts to consolidate Gulf integration and cooperation among the GCC member states in various fields, Kuwait News Agency (KUNA) reported.

He pointed out the efforts of the GCC ministers of finance in line with the GCC leaders' directives, with a view to promoting inter-Gulf cooperation and establishing the basics of Gulf economy.

The meeting is mainly meant to bolster Gulf people-to-people relations and to achieve economic integration.


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