Leaders of the Gulf Cooperation Council (GCC) agreed during the Tuesday summit in Riyadh to create a financial and monetary union by 2025, the final statement adopted following the summit said
DOHA (Pakistan Point News / Sputnik - 10th December, 2019) Leaders of the Gulf Cooperation Council (GCC) agreed during the Tuesday summit in Riyadh to create a financial and monetary union by 2025, the final statement adopted following the summit said."To work on achieving economic integration and a customs union by 2025, as well as creating financial and monetary unity by 2025," the statement said.
The statement was read live on the Al-Arabia tv channel by the Secretary-General of the Gulf Cooperation Council Abdullatif bin Rashid al-Zayani.
The leaders of regional countries emphasized the need to maintain unity among the members of the council. The secretary-general also said that any aggression against any member state of the GCC would be an attack against the whole council.
The 40th GCC Summit was held in Saudi Arabia's Riyadh on Tuesday. Saudi King Salman bin Abdulaziz Al Saud, UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, Kuwaiti Emir Sheikh Sabah al-Ahmad al-Sabah, Bahraini King Hamad bin Isa Al Khalifa, Qatari Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani and Omani Deputy Prime Minister for the Council of Ministers Fahd bin Mahmoud al-Said participated in the summit.
The GCC, established in 1981, consists of all Arab countries of the Persian Gulf, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. GCC members closely coordinate on economic, political and military matters to fight against threats faced by the region.
