The 66th meeting of the Gulf Cooperation Council Trade Cooperation Committee, which took place in Doha, Qatar on May 1, 2024, was led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. The delegation included high-ranking officials from the Ministry of Economy and other sectors related to trade and commerce.
The focus of the meeting was on fostering a conducive Gulf economic environment for businesses. Various topics were discussed, including boosting intra-regional trade, supporting Gulf entrepreneurs and small to medium enterprises, establishing an investment affairs committee, reviewing developments in the Gulf Commercial Arbitration Center, and considering amendments to laws related to consumer protection, competition regulation, and electronic commerce.
Dr. Al Zeyoudi emphasized the UAE’s commitment under its leadership to enhancing joint Gulf efforts for integrated and prosperous cooperation. The UAE aims to support member states by improving the competitiveness of their business industries and fostering partnerships in strategic economic sectors.
During the meeting, strategies to enhance the Gulf business environment were deliberated upon, as well as initiatives to promote cooperation among GCC countries. Efforts were also made to facilitate import-export procedures and give priority to Gulf SMEs in government tenders. Support for Gulf entrepreneurs through training programs, partnerships, and business registration initiatives was also discussed.
Additionally, discussions focused on establishing a specialized committee for investment affairs, enhancing local and international investments, collaborating with regional economic entities to benefit member states. Amendments to commercial laws regulations within GCC countries were also key topics at the meeting.
Preparations for upcoming ministerial meetings between GCC countries and China were highlighted during the meeting as well as participation in forums aimed at strengthening economic cooperation and concluding free trade agreements
