Qatar pitches for efforts to boost intra-GCC trade

Qatar on Sunday pitched for enhanced growth in trade among the Gulf Co-operation Council (GCC) countries by eliminating obstacles to foster economic and trade integration as well as raise the level of intra-GCC trade.

This was articulated by Mohammed bin Hassan al-Malki, Undersecretary of Qatar’s Ministry of Commerce and Industry, at the 59th meeting of the Committee of Undersecretaries of Commerce and the 45th meeting of the Committee of Undersecretaries of Industry of the GCC.

Highlighting the need to explore new opportunities for the development of the private sector as a cornerstone for the growth of the GCC economies, he emphasised the pivotal role of the industrial sector in contributing to the gross domestic product of the GCC, supporting economic diversification strategies and achieving sustainable development.

Qatar has effectively advanced initiatives to strengthen industrial, commercial, and investment co-operation across the GCC, driving the region closer to its goal of full integration for the benefit of its people, he said.

The meeting, which saw the presence of Khalid bin Ali al-Sunaidi, Assistant Secretary-General for Economic and Development Affairs of the GCC Secretariat General, is continuation of efforts to enhance Gulf co-operation and integration, especially in light of global economic challenges such as the economic slowdown and supply chain disruptions.

The Undersecretaries of Commerce and Industry discussed a range of key issues of mutual interest, as outlined on their agenda. The resulting recommendations have been submitted to the Ministers of Commerce and Industry of the GCC countries, for approval and for the necessary decisions to be made during their upcoming meetings.