DOHA: Acting Undersecretary of the Ministry of Commerce and Industry Marwa Al-Jaidan on Wednesday called for intensified efforts and unified economic policies among GCC member states to confront current global economic challenges and support the stability of the Gulf economy. Speaking at the opening of the 60th preparatory meeting of the GCC Committee of Undersecretaries of Ministries of Commerce, Al-Jaidan emphasized the need to accelerate joint action, strengthen cooperation, and enhance collective achievements in pursuit of sustainable economic growth across the region.

Al-Jaidan noted that this approach aligns with the directives of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, as highlighted in his speech during the 45th Gulf Summit held in Kuwait last January. She pointed to the tangible progress made by GCC countries in the realm of trade cooperation, particularly through the adoption of several unified laws and regulations designed to reinforce regional integration and economic resilience.

A group photo following the 60th preparatory meeting of the Committee of Undersecretaries of Ministries of Commerce of the Gulf Cooperation Council countries.- KUNA photos

The undersecretary explained that the meeting’s agenda features several key issues, the result of efforts by technical committees in coordination with the General Secretariat of the Gulf Cooperation Council (GCC). She underscored the importance of collective efforts to confront shared economic challenges, calling for in-depth discussions that would lead to agreements beneficial to all member states. Al-Jaidan extended her gratitude to Qatar for its commendable organization of the previous session and expressed appreciation to the GCC General Secretariat for its role in preparing and managing the current meeting.

The session will review the latest developments in free trade negotiations with various countries and international economic blocs. Delegates will examine a report outlining the progress of these negotiations and their anticipated impact on enhancing intra-GCC trade and external economic relations. Discussions will also cover the implications of recent US customs tariffs on global trade and assess their effects on GCC economies, with the aim of identifying strategies to safeguard regional and international market stability.

The agenda further includes the adoption of a framework for drafting unified commercial legislation across GCC states, updating laws related to competition and consumer protection in line with regional economic shifts, and reviewing developments in the GCC Investment Agents Committee. Additionally, the meeting will address funding mechanisms for future initiatives by the Small and Medium Enterprises and Entrepreneurship Committee, with a focus on fostering innovation and expansion in sectors vital to the Gulf economy. The gathering is part of ongoing efforts to deepen economic integration and promote collective prosperity across the Gulf region. — KUNA