01-05-2025
UAE underscores its commitment to continuing to develop policies and legislation that enhance the competitiveness of the GCC economies
HE Dr. Thani Al Zeyoudi: Strategic partnerships are a cornerstone in supporting the GCC's industrial growth and play a pivotal role in driving sustainable development. The meeting covered a range of topics aimed at facilitating trade and investment among the GCC countries.
The latest developments within the GCC Investment Committee and efforts to support investment environment were reviewed, in addition to exploring mechanisms to overcome challenges faced by investors.
Strengthening of relations between member states in the industrial sector was discussed, with participants agreeing to support collaborative efforts and the GCC Industrial Excellence Award.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led the UAE delegation participating in the meetings of the GCC Ministerial Committees of Trade and Industrial Cooperation and Standardization Affairs, held in Kuwait. The meetings discussed a range of initiatives and topics aimed at advancing the GCC's economic environment, supporting entrepreneurial projects, and coordinating trade and legislative policies, as well as strengthening industrial relations among member states, in addition to strengthening relations between member states and supporting collaborative efforts through joint Gulf industrial work.
With an aim to enhance trade and investment cooperation among the GCC countries, the meetings reviewed the latest developments in free trade agreements negotiations between the GCC and other international blocs, as well as the priorities in strengthening international partnerships and broadening access to global markets.
His Excellency Dr Al Zeyoudi emphasized that the UAE is committed to promoting the GCC's economic integration, particularly in light of ongoing global economic shifts. H.E. underscored the importance of coordinated efforts in developing trade policies and legislation, supporting competitive systems, and funding entrepreneurial initiatives, as well as small and medium-sized enterprises, all of which would enhance intra-GCC trade and bolster its competitiveness in the global market.
His Excellency said: 'The meetings discussed several strategic topics that are key priorities for the member states, including the adoption of a unified approach to the development of trade policies and legislation among the member states.'
The meeting conducted a comprehensive review of the developments within the GCC Investment Agents Committee, key initiatives supporting GCC's investment environment, mechanisms for overcoming challenges faced by investors, and factors enhancing the attractiveness of GCC markets for investments.
During the meetings, the committee reviewed the progress of work in implementing the joint Gulf action strategy in the field of patents. The meetings concluded with a review of latest developments related to a proposal to organize a number of Gulf economic forums with some commercial partners during 2025.
The Industrial Cooperation Committee meeting focused on strengthening industrial relations among member states and the GCC Industrial Excellence Awards. The meeting also discussed several joint initiatives and topics aimed at boosting the competitiveness of the industrial sector and promoting intra-GCC trade.
During the Standardization Affairs Committee meeting, the members approved a number of unified GCC technical regulations in the food and electric vehicle sectors, with the aim of enhancing the GCC market and facilitating trade exchange among member states. The committee also approved the internal regulations for the GCC Accreditation Center.
The UAE delegation included H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy; H.E. Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology; H.E. Juma Al Kait, Assistant Undersecretary of Foreign Trade Affairs at Ministry of Economy; H.E. Safeya AlSafi, Assistant Undersecretary for the Control and Commercial Governance Sector at Ministry of Economy; H.E. Dr. Farah Al Zarooni, Assistant Undersecretary for Standardization Affairs; and H.E. Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector at the Ministry of Industry and Advanced Technology.
The meetings reflect the bloc's continued commitment to strengthening joint efforts, advancing the development of its economic and industrial sectors, and expanding opportunities for the private sector, contributing to solidifying the position of GCC countries as leading industrial and commercial hubs at both regional and global levels.
