UAE reiterates its commitment to supporting GCC’s economic integration to achieve economic unity by 2025

H.E. Abdulla bin Touq Al Marri, Minister of Economy, led the UAE delegation participating in the 5th GCC Economic & Development Affairs Authority Permanent Ministerial Committee meeting, held in the city of Salalah in the Sultanate of Oman.

H.E. Bin Touq underlined the UAE’s commitment to supporting GCC’s economic integration mechanisms in all fields, particularly on economic and development fronts, in line with the directives of the wise leadership to advance the bloc’s joint efforts, thereby achieving sustainable development and enhancing the prosperity of its people.

H.E. said: “The great surge in GCC economies over the past years has driven us to further integrate our efforts and strategic plans to achieve economic unity among the GCC countries by 2025, which is the main objective on the Economic and Development Affairs Authority’ agenda. This will materialize through the adoption of innovative initiatives and projects designed to address challenges and achieve this goal.”

The meeting reviewed a number of key topics related to enhancing GCC’s joint economic and development efforts, including the completion of the customs union and the common GCC market. The uses of artificial intelligence in promoting development efforts and mechanisms to enhance the competitiveness of GCC economies was also discussed, among other initiatives in support of GCC’s economic integration by 2025. The Committee agreed to proceed with projects and initiatives that contribute to strengthening cooperation among GCC economies.

The Minister of Economy underlined the remarkable opportunities that economic blocs possess and their role in supporting sustainable growth, economic stability, and social prosperity in the face of current and future developments that may impact global economy and supply chains. He also drew attention to the need to address various challenges, in line with a common GCC vision and informed decisions.

Furthermore, H.E. highlighted the Committee’s pivotal role in the adoption of innovative forward-looking policies and pioneering initiatives that are key to achieving these goals.