During the meeting, Al-Bedaiwi voiced the GCC leaders support for enhanced Gulf economic integration and cooperation, underscoring the significance of strengthening and enhancing the partnership between the public and private sectors in the GCC countries with the aim of creating an attractive and competitive environment that fosters sustainable partnerships and realizes the desired economic visions of the GCC countries.
Al-Bedaiwi expressed his aspiration for continued cooperation and integration between the General Secretariat of the Council and the Gulf private sector, represented by the Federation of GCC Chambers. He emphasized the Secretariat's commitment to monitor and study the challenges and obstacles encountered by the private sector, key among which emerging international challenges and rapid economic changes, such as military conflicts, climate change, inflation, supply chain disruptions, and fluctuations in energy and food prices, which require enhanced coordination and expedited actions to mitigate risks.
He revealed that a comprehensive study on the obstacles to intra-GCC trade and proposed solutions has been prepared and will be presented to the Trade Cooperation Committee during its upcoming meeting in Salalah- Oman. Additionally, the Financial and Economic Cooperation Committee will present the necessary steps to fulfill the requirements of the Customs Union and the Common Gulf Market during its next meeting in Muscat, in alignment with the leaders' directives at their 43rd summit and consultative meeting in Jeddah.
For his part Al-Huwaizi, called for the establishment of a joint Gulf fund for financing and investment, with the aim of supporting initiatives that seek to build partnerships and promote economic integration among the countries of the Council. He explained that despite global fluctuations, the economies of the GCC countries have witnessed positive growth rates, which came as a result of the support provided by the leaders and their empowerment of the Gulf private sector.
Similarly, Chairman of the Union of Arab Chambers, Chairman of the Bahrain Chamber Sameer Nass, expressed his support for Gulf economic integration. He also took the opportunity to extend his condolences to the Kingdom of Morocco for the recent earthquake, and congratulated Saudi Arabia and the United Arab Emirates on their membership in the BRICS group, highlighting the significance of these achievements.
For his part, Bahrain Chamber’s First Deputy Chairman Khalid Mohammed Najibi, emphasized the importance of holding these regular meetings with the Gulf private sector, due to its effective and pioneering role in enhancing the interconnection of economic policies within its Gulf environment. He highlighted that the Gulf chambers have played a significant role in supporting the progress of the Gulf Cooperation Council towards economic integration by strengthening the role of the private sector in comprehensive and sustainable economic development.