Gulf Consultative Meeting Outlines Features Of Integrated Economic Cooperation

Confronting Regional And International Changes

The fifteenth consultative meeting of Gulf Cooperation Council officials convened in Manama today. Their Excellencies the Ministers of Trade and Industry met with the heads of regional Chambers of Commerce. His Excellency Engineer Ghalib bin Saeed Al Maamari headed the delegation representing the Sultanate of Oman. He serves as Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Trade and Industry. Rashid bin Amer Al Musallahi led the delegation representing the Oman Chamber of Commerce and Industry. The meeting focused heavily on the vital relationship between the public and private sectors currently.

Overcoming Regional Economic Challenges

Officials discussed the numerous challenges facing the Gulf private sector amid the ongoing regional crisis. His Excellency Jassim Mohammed Al-Budaiwi, Secretary General of the GCC, commended the private sector. He noted their prominent role in strengthening the joint Gulf economic cooperation process. The meeting helps focus efforts on initiatives that support robust growth across the entire region. This makes the private sector a strong economic engine contributing to regional stability and development. His Excellency Sheikh Khalifa bin Jassim bin Mohammed Al Thani stressed the importance of Gulf integration.

Building A Flexible Logistics System

He urged building a more flexible trade and logistics system capable of handling international disturbances. This ensures the continuity of the flow of goods and maintains absolute market security. The global economic landscape is witnessing rapid transformations due to severe geopolitical turmoil. Participants discussed a proposal to establish a joint digital logistics market to enhance trade efficiency. They also addressed the limited access of small and medium-sized enterprises to necessary expansion financing. Close coordination remains essential to creating an attractive investment environment for the Gulf business community. Understand the global trade partnerships driving economic diversification in the Sultanate. Find more vital industry news today at Oman Day.