Saudi Finance Minister: GCC to achieve economic unity in 2025

Saudi Finance Minister Mohammed Al-Jadaan stressed the need to raise the pace of coordination among the Gulf Cooperation Council (GCC) countries to reach economic unity by 2025.

This came during a virtual meeting of the Gulf Ministers of Finance and Economy, which reviewed the progress made in issues related to strengthening financial and economic cooperation, and the mechanisms for its implementation in accordance with the approved plans, in order to serve the common interests.

The Gulf Ministers were briefed on the economic decisions issued by the Supreme Council at its 42nd session, the plan to complete the remaining steps for the establishment of the customs union, as well as the recommendations of the Customs Union Authority and the Gulf Common Market Committee.

Al-Jadaan said that there are vigorous steps to achieve coordination, integration and interdependence among the GCC states in all fields, and to remove obstacles that prevent this from being achieved.

He stressed the need to raise the pace of coordination among all GCC states to complete the establishment of the customs union and implement the tracks of the Gulf common market, leading to economic unity by 2025.

He pointed to the importance of seeking to overcome the obstacles facing the joint Gulf action, by achieving a qualitative leap in cooperation and consensus among the GCC states at various levels and fields.

He praised the role of the General Secretariat in expanding aspects of joint cooperation, in line with global developments and the visions of the GCC countries towards the future.

It is noteworthy that the meeting of the Financial and Economic Cooperation Committee is held periodically to discuss all topics related to the joint Gulf economic work and the developments of legislation and economic measures adopted by the GCC countries in order to achieve the common strategic interests in the long term.

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