HE the GCCSG: The Private Sector has a Vital & Prominent Role in Achieving the National Goals of the GCC Countries & Enhances the Efforts of Joint Gulf Action
nabdalhadath – Ahmed Bin Abdulqader
His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the consultative meeting between Their Excellencies the Ministers of Trade and Industry and the heads of the federations and chambers of the GCC countries aims to highlight the challenges facing the Gulf private sector, work to overcome them, and provide appropriate solutions.
This is based on the belief in the importance of the vital and prominent role that the private sector plays in achieving the national goals of the GCC countries and enhancing the efforts of joint Gulf action, under the wise guidance of Their Majesties and Highnesses, the leaders of the GCC countries who are keen to support the private sector and enable it to play its active role in achieving economic integration among the GCC countries, His Excellency pointed out.
His Excellency’s remarks came during the consultative meeting between Their Excellencies the Ministers of Trade and Industry and the heads of the federations and chambers of the GCC countries, on Wednesday, April 30, 2025, in the State of Kuwait, chaired by His Excellency Khalifa Abdullah Al Ajeel, Minister of Commerce and Industry in the State of Kuwait, who is the President of the current session – and with the presence of Their Excellencies the Ministers of Trade and Industry and the heads of the federations and chambers of the GCC countries.
During his speech, His Excellency the Secretary General said that we aim to enhance the efforts made in line with the directives of Their Majesties and Highnesses, the leaders of the GCC countries, to work on completing the pillars of economic unity.
“We also seek to coordinate positions in a way that contributes to strengthening solidarity and stability among the GCC countries, protecting their interests, and avoiding regional and international conflicts, within the framework of meeting the aspirations and ambitions of their citizens and enhancing their regional and international role by unifying positions at all levels and expanding strategic partnerships with the international community, regional and international organisations, and sisterly and friendly countries,” His Excellency explained.
His Excellency also stated that Their Majesties and Highnesses, the leaders of the GCC countries, give great attention to the economic and commercial sector, as they directed the continuation of efforts to move from the stage of cooperation to the stage of union, and underscored the importance of accelerating the achievement of economic unity among the GCC countries, as well as completing the requirements necessary to achieve this.
His Excellency mentioned that this periodic consultative meeting between the Ministers of Trade and Industry of the GCC countries and the heads and members of the chambers of commerce and industry in the GCC countries is an important dialogue platform that brings together policymakers and decision-makers in the GCC countries and the heads and members of the chambers of commerce, in addition to the highest levels of government officials and representatives of the private sector.
“The meeting also aims to bolster cooperation between governments and the private sector, stimulate economic growth in the GCC countries, as well as address the regional and international economic challenges facing the Gulf private sector, in order to achieve an increase in the rates of trade exchange between the GCC countries.
His Excellency also touched on the achievements that have been made in this regard, which have contributed to opening of new horizons at the economic level among the GCC countries.
“The volume of intra-GCC trade in 2023 reached more than 131 billion US dollars, with a growth of 3.3%, while the volume of foreign merchandise trade reached 1.5 trillion US dollars, with a growth of 4%. These economic indicators point to the promising opportunities that we should take advantage of to enhance joint Gulf cooperation in all commercial fields,” His Excellency highlighted.
He also said that many Arab countries and other friendly countries have expressed their desire to strengthen their relations with the GCC-based private sector, praising in this regard the important role played by the Federation of GCC Chambers of Commerce in this direction, especially the efforts currently being made to hold a Gulf investment forum with the Arab Republic of Egypt and another forum with the Kingdom of Morocco, also noting the desire expressed by the political leadership of both Syria and Lebanon to organize similar economic forums in both countries.
