Federation of Gulf Chambers Explores Private Sector Role in Regional Trade

Strengthening Economic Cooperation in Manama

The Board of Directors of the Federation of GCC Chambers met today. They held their 69th official meeting in Manama, Kingdom of Bahrain. His Excellency Sheikh Khalifa bin Jassim bin Mohammed Al Thani chaired the important gathering. He serves as the President of the Federation and Chairman of Qatar Chamber. Their Excellencies the heads of the Federations and Chambers of Commerce attended the meeting. Rashid bin Amer Al-Maslahi headed the Oman Chamber of Commerce and Industry delegation. He serves as the First Vice Chairman of the Board of Directors. The meeting addressed strengthening economic and trade cooperation between the Gulf Cooperation Council countries.

Developing Intra-Gulf Trade

The officials discussed the vital role of the private sector in developing intra-Gulf trade. They also explored practical ways to achieve comprehensive Gulf economic integration. The Council reviewed periodic follow-up reports regarding previously issued administrative decisions. They made necessary decisions regarding joint investment strategies and major real estate projects. These decisions ensure the enhancement of financial returns and the application of conservative fiscal policies. The council also discussed detailed administrative and financial reports during the session. They reviewed future work plans and draft annual budgets for the union. Participants emphasized the importance of developing long-term strategic methodologies for joint events.

Protecting the Gulf Business Sector

The meeting discussed several regulatory rules and development proposals to enhance joint work mechanisms. It included initiatives aimed directly at protecting the interests of the Gulf business sector. They coordinated preparations for upcoming consultative meetings with the GCC General Secretariat. Understand the global trade partnerships driving economic diversification in the Sultanate. Find more vital industry news today at Oman Day.