Oman Participates in 123rd GCC Financial and Economic Cooperation Committee Meeting in Kuwait
Kuwait, The Gulf Observer: The Sultanate of Oman on Sunday took part in the 123rd meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee, held in Kuwait. The Omani delegation was led by H.E. Sultan Salim Al Habsi, Minister of Finance.
The high-level meeting brought together finance ministers from across the GCC member states to deliberate on key regional economic and financial issues. The agenda included a review of the outcomes from the 84th meeting of the GCC Central Bank Governors Committee, the meetings of the GCC Customs Union Authority, the 14th session of the GCC Tax Departments Committee, and the 42nd meeting of the Gulf Common Market Committee.
The committee also examined the potential economic implications of the recent increase in United States customs duties on GCC member states, reflecting a shared concern over evolving global trade dynamics and their regional effects.
Among the major topics addressed was a review of statistical indicators related to the progress of the Gulf Common Market, ongoing negotiations for free trade agreements between GCC states and various international partners, and developments surrounding the signing and ratification of the GCC Payment Linkage System agreement.
Additionally, the committee discussed several studies and strategic projects currently being reviewed by the Office of the GCC Economic and Development Affairs Authority. Updates were also provided on the programme dedicated to achieving economic unity among GCC states, reinforcing the shared vision for deeper economic integration.
On the sidelines of the meeting, the GCC Secretariat General launched a new media campaign titled “All the Gulf is a Homeland.” The initiative aims to enhance public awareness about the economic and social rights enjoyed by GCC citizens under the Gulf Common Market framework. It underscores the unified approach of GCC member states in promoting the concept of GCC citizenship and reinforcing regional cohesion.
The Sultanate’s participation in this meeting reaffirms its commitment to strengthening joint Gulf economic action and supporting initiatives that contribute to the prosperity and sustainable development of the region.
