Dubai, June 13, 2022 (WAM)-Finance Minister Mohamed bin Hadi al-Husayni recently led a UAE delegation to attend the 116th meeting of the GCC Financial and Economic Cooperation Commission.

The conference will be held in Riyadh, Saudi Arabia, with recommendations and findings from the 65th Preparatory Meeting of the Gulf Cooperation Council (GCC) Treasury Committee, as well as many agenda topics.

The delegation of the United Arab Emirates included Ali Abdullah Sharafi, Assistant Secretary of the International Financial Affairs Department of the Ministry of Finance. Ibrahim Al Jarwan, GCC Executive Director of MoF. Hamad Al Zabi, Director of the Finance Minister’s Office. Also attended were the Ministers of Finance of GCC countries and the Secretary-General of the Gulf Cooperation Council.

Al-Husayni emphasized the importance of regular meetings held by the Commission to discuss the development of GCC joint economic activities. He also noted the importance of these meetings in confronting the obstacles facing the achievement of economic unity among GCC countries by 2025.

“The United Arab Emirates is keen to continue to work together and coordinate to achieve the aspirations and ambitions of GCC members, leaders of GCC countries, and their people. The Ministry of Finance is committed to the Gulf Economy. The stage of integration, the implementation of a unified economic agreement, and the representative of the UAE in the Financial and Economic Cooperation Commission. The ministry will also follow up on the implementation of economic decisions issued by His Majesty and His Majesty the leaders of the GCC countries. . ”

During the meeting, the GCC Financial and Economic Cooperation Committee discussed the outcome of the 78th meeting of the GCC’s central bank governors and the outcome of the 10th meeting of the tax administration committees of GCC countries. They also discussed the outcome of the 28th meeting of the GCC Customs Union authorities and the report of the Secretary-General of the Gulf Cooperation Council on the remaining steps to establish a customs union by the end of 2024. The results of the 33rd, 34th, and 35th meetings of the GCC Committee on the Gulf Common Market, and the results of the 3rd meeting of the Treasury, a small group to discuss the G20 Finance Track Initiative.

During the meeting, the Minister of Finance also considered several memorandums. These include up-to-date information on achieving economic unity among GCC countries by 2025, signing agreements to link payment systems in GCC countries, and combating harmful practices in international trade. Includes a report on toll collection. In addition to discussing the Memorandum of Understanding related to the approval of GCC leaders on the establishment of the Gulf Railways Bureau, and the latest information on research being followed up by the Secretary-General.

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