UAE supports GCCs joint efforts to prioritise economic issues: minister

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ABU DHABI Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the keenness of the UAE, in light of its leadership’s vision and directives, to support the joint efforts of the Gulf Cooperation Council (GCC) to prioritise economic issues and encourage cooperation and coordination, to consolidate a sustainable GCC economic, commercial and investment integration.

He made this statement while representing the UAE in the extraordinary meeting of the GCC Commercial Cooperation Committee, which was attended by GCC ministers of trade and Dr. Nayef Falah Al Hajraf, Secretary-General of the GCC.

The meeting, which was held remotely, discussed ways of implementing the resolutions of the "Summit of Sultan Qaboos and Sheikh Sabah" recently held in Al Ula, Saudi Arabia, that aimed to draft future mechanisms of joint action between GCC countries related to three areas, which are the adoption of an amended consumer protection system, the approval of an amended patents system, and supporting small and medium-sized enterprises (SME).

"The previous GCC meeting at the Al Ula Summit in Saudi Arabia witnessed the issuance of a range of resolutions and recommendations aimed at encouraging GCC cooperation and integrating several priority sectors, most notably the adoption of consumer protection system and a related regulatory law, the creation of a GCC intellectual property environment through amending unified patent laws, and the drafting of clear frameworks for cooperation to support GCC entrepreneurs and SMEs," Al Zeyoudi said.

These topics will consolidate economic partnerships and integration between GCC countries and support their plans and strategies to establish diverse and sustainable economies based on knowledge, innovation and productivity, he added.

Under this framework, Al Zeyoudi highlighted the UAE’s keenness to implement the common vision of the leaders of GCC countries and support joint GCC action frameworks, to achieve the summit’s resolution.