GCC Trade Cooperation Committee Fosters Economic Growth, Investment Opportunities in Gulf Region

The 66th meeting of the Gulf Cooperation Council Trade Cooperation Committee, which took place on May 1, 2024, in Doha, Qatar, focused on fostering a conducive economic environment for businesses in the Gulf region. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led the United Arab Emirates delegation at the meeting. The delegation included high-ranking officials from various sectors related to trade and commerce.

The committee discussed several topics aimed at improving the competitiveness of business industries in member states and fostering partnerships in strategic economic sectors. Efforts were made to enhance the Gulf business environment by promoting cooperation among GCC countries and facilitating import-export procedures. Priority was given to Gulf Small to Medium Enterprises (SMEs) in government tenders.

Training programs, partnerships, and business registration initiatives were also discussed as strategies to support Gulf entrepreneurs. A specialized committee for investment affairs was established to enhance local and international investments and collaborate with regional economic entities to benefit member states. Amendments to commercial laws, regulations, and the promotion of electronic and digital commerce within GCC countries were also key topics at the meeting.

Preparations for upcoming ministerial meetings between GCC countries and China were highlighted during the meeting, as well as participation in forums aimed at strengthening economic cooperation and concluding free trade agreements. Overall, the discussions aimed to promote economic growth, trade cooperation, and investment opportunities among member states and their partners.

In his speech during the meeting, Dr. Al Zeyoudi emphasized that under the guidance of its leadership