On May 1, 2024, the Gulf Cooperation Council Trade Cooperation Committee held its 66th meeting in Doha, Qatar. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led the United Arab Emirates delegation. The committee included high-ranking officials from various sectors related to trade and commerce.
The meeting focused on several topics aimed at promoting a conducive Gulf economic environment for businesses. Discussions revolved around 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 the leadership of its government to enhancing joint Gulf efforts for integrated and prosperous cooperation. The UAE aims to support member states by improving their business industries’ competitiveness and fostering strategic partnerships in key economic sectors.
The committee deliberated on strategies to improve the Gulf business environment, promote cooperation among GCC countries, facilitate import-export procedures, give priority to Gulf SMEs in government tenders, support entrepreneurs through training programs and partnerships, establish a specialized committee for investment affairs and collaborate with regional economic entities to benefit member states.
During the meeting, discussions also included preparations for upcoming ministerial meetings between GCC countries and China as well as participation in forums to strengthen economic cooperation and conclude free trade agreements. Overall, the discussions aimed at promoting economic growth