UAE participates in the GCC Common Market Committee meetings

Representatives from the MoF, Ministry of Industry and Advanced Technology, and Ministry of Economy were part of the UAE delegation that participated in the meetings of the GCC Common Market Committee, the GCC Industrial Development Council, and the technical team concerned with investments in the GCC.

Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, highlighted the significance of the meeting in following up on the updates of the GCC Common Market and finding the best ways to address challenges that could hinder the completion of its requirements, support mechanisms, and activating the Council's committee work. He also emphasised the UAE's commitment to working and coordinating with other GCC countries to enhance joint Gulf economic action, meeting the aspirations of GCC leaders and people.

This meeting came within the framework of implementing the GCC Common Market Committee's work plan 2022-2024, which included holding a number of joint meetings with the technical committees concerned with the GCC Common Market issues. This is based on the GCC Supreme Council’s decision that was issued in its 42nd session, on 14th December 2021. The decision was to assign the GCC Financial and Economic Cooperation Committee to finalise the remaining steps for the establishment of the Customs Union and the implementation of the GCC Common Market tracks before the end of 2024, according to a set schedule.