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GCC, US leaders vow to support economic recovery efforts

GCC, US leaders vow to support economic recovery efforts

July 16, 2022 | 11:27 PM
The GCC leaders welcomed the US president's emphasis on the importance that his country attaches to its strategic partnership with GCC countries, and that the US is ready to work in partnership with GCC member states in order to deter and confront all external threats to their security, in addition to act against any threats to vital waterways.
The leaders of the Gulf Co-operation Council (GCC) countries and the United States affirmed their commitment to developing co-operation for the sake of supporting the efforts to recover the international economy from the negative economic impacts of the coronavirus pandemic and the war in Ukraine, as well as to ensure the resilience of supply chains, and food and energy supplies security.Following the meeting of the GCC leaders with US President Joe Biden in Jeddah at the invitation of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz al-Saud of Saudi Arabia, the leaders issued Saturday "The Statement of the Cooperation Council for the Arab States of the Gulf and the United States of America" in which they affirmed their commitment to maintaining the security and stability of the region, supporting diplomatic efforts aimed at calming regional tensions, deepening their regional defence, security, and intelligence co-operation, as well as ensuring the freedom and security of maritime shipping lanes.According to the statement, the GCC leaders welcomed the US president's emphasis on the importance that his country attaches to its strategic partnership with GCC countries, and that the US is ready to work in partnership with GCC member states in order to deter and confront all external threats to their security, in addition to act against any threats to vital waterways.The statement said that the leaders discussed ways to intensify co-operation to enhance the deterrence and defence capabilities of the GCC states, and to develop an integration policy in the fields of air and missile defence, maritime security capabilities, early warning systems and intelligence exchange.They further stressed their support to ensure that the Gulf region is free from all weapons of mass destruction, expressing the cruciality of diplomatic efforts to prevent Iran from developing a nuclear weapon, as well as confronting terrorism, and all activities destabilising security and stability.Furthermore, the statement indicated that the US welcomed the decision of the Arab Coordination Group (ACG), which includes 10 national, Arab and specialised development financing institutions, to provide at least $10bn for responding to regional and international food security challenges, in accordance with the objectives of the Roadmap for Global Food Security — Call to action led by the United States.Moreover, the leaders also welcomed the announcement by the US to provide an additional $1bn for supporting the urgent short- and long-term food security needs of the Middle East and North Africa region (Mena). Additionally, the leaders commended the efforts by the Opec+ group in order to achieve stability in global oil markets, in a manner that serves the interests of both producers and consumers, and supports economic growth.They also welcomed the recent decision of Opec+ members to increase production for July and August, highlighting and appreciating the leading role of Saudi Arabia in achieving consensus among the groups countries.The statement said that President Biden welcomed the announcement by a number of GCC partners of their plans to invest a total of $3bn in projects that meet the objectives of the Partnership for Global Infrastructure and Investment (PGII) led by the US, which aims to invest in major infrastructure in low-income and middle-income countries, including investing in projects that enhance energy and climate securities, digital connectivity, and diversify global supply chains.Furthermore, the statement expressed the appreciation of the US President for the GCC states donation of $100mn in support for the East Jerusalem Hospital Network, which provides essential and life-saving health care to Palestinians in the West Bank, Gaza and East Jerusalem.The leaders also praised the existing co-operation between the GCC countries and the US in supporting the security and stability of the region and its sea-lanes, affirming their determination to develop co-operation and co-ordination between their countries in fortifying their joint defence and deterrence capabilities against the increasing risk of drone and winged missile systems proliferation, as well as countering the armament of terrorist militias and armed groups, in accordance with Security Council resolutions.The leaders welcomed the establishment of (Joint Task Force 153) and (Joint Task Force 59), which enhance partnership and defence co-ordination between the GCC and the US Central Command, in a way that detects maritime threats and strengthen maritime defences using the latest systems and technologies.Further, the leaders recalled the previous Gulf-US summits held at Camp David on May 14, 2015, in Riyadh on April 21, 2016, and in Riyadh on May 21, 2017.The leaders emphasised the historical partnership and strategic importance of their relations, as well as their common determination to build on the achievements of previous summits to enhance co-operation, coordination and consultation between their countries on all fronts.Finally, the leaders affirmed their keenness to continue holding the Gulf-US summits annually.
July 16, 2022 | 11:27 PM