Thursday, May 26, 2011

Gulf News

Abu Dhabi: The UAE yesterday hoisted the flag of the Gulf Cooperation Council (GCC) at the headquarters of the Foreign Ministry in Abu Dhabi and the countrys border posts as part of celebrations marking the blocs 30th anniversary.

The Gulf Cooperation Council, which played its role in good times and in bad times, will remain our bastion to safeguard our future and a bridge to prosperity and stability, said Dr Anwar Mohammad Gargash, Minister of State for Foreign Affairs and Minister of State for FNC Affairs, after unfurling the GCC flag.

The raising of the GCC flag and logo alongside flags of GCC countries reinforces a resolution taken during the 31st session of the GCC Supreme Council meeting held in Abu Dhabi in December.

Economic might

As we celebrate the 30th anniversary today in Abu Dhabi, which witnessed the birth of the GCC 30 years ago, we understand that we have built an edifice, but more challenges lie before us to attain further achievements and successes, Dr Gargash said.

Founded in 1981, the GCC sought to bring the UAE, Saudi Arabia, Kuwait, Oman, Qatar and Bahrain closer together to improve security and encourage economic growth and development within the Gulf region.

The six-member bloc boasts some of the fastest-growing economies. Over the past 30 years, primarily due to its visionary leaders and abundance of resources, the blocs gross domestic product (GDP) has grown from $422 billion (Dh1.54 trillion) in 2000 to more than $1 trillion in 2010, according to figures from the International Monetary Fund.

Stressing that the blocs achievements to date represent only a small part of its overall vision, Dr Gargash said it was destined for greater achievements and successes in future.

The bloc has set a number of important deadlines over the next decade, including 2015 for the introduction of a single currency and 2017 for the completion of the GCC rail project. It has also made improving the efficiency of the customs union a priority for the coming years. The flag-hoisting ceremony was also attended by envoys of the GCC countries, besides senior officials from the Foreign Ministry, the Interior Ministry and the Army.

By Samir Salama, Associate Editor

Gulf News 2011. All rights reserved.