DUBAI, (Pakistan Point News - 02nd Aug, 2021) Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, today met with Dr. Nayef Falah Mubarak Al-Hajraf, Secretary-General of the Gulf Cooperation Council (GCC).
During the meeting, the sides discussed means to enhance financial and economic cooperation between GCC countries, accelerate their economic integration, drive their trade exchange and boost the outputs delivered by the GCC Customs Union Authority and the Gulf Market Committee.
Al Tayer highlighted the UAE's pivotal role in enhancing economic, trade and developmental integration, and expanding the scope of cooperation and coordination between GCC countries, to strengthen the role of GCC countries in the global economic decision-making process.
The GCC plays an essential role in consolidating the strong ties and strategic partnerships between its member states, he added, stressing the Ministry of Finance's keenness to enhance relations between the UAE and other GCC countries to support their joint action efforts and meet their developmental goals.
The Ministry of Finance is overseeing the implementation of the Unified Economic Agreement of the GCC countries and joint GCC economic action, and related projects, including financial integration, and the implementation of plans of the GCC Customs Union Authority and Gulf Market Committee.
The ministry established a specialised department dubbed the "Department of the Cooperation Council for the Arab States of the Gulf Affairs" to follow up on the implementation of Economic Integration projects.