UAE calls for stronger Gulf economic cooperation at GCC talks

Abu Dhabi: Abdulla bin Touq Al Marri, Minister of Economy and Tourism, has taken part in the 70th meeting of the Gulf Cooperation Council (GCC) Trade Cooperation Committee, where ministers reviewed a series of strategic initiatives aimed at deepening economic ties and strengthening the competitiveness of Gulf markets.

Held via videoconference, the meeting focused on expanding trade and investment integration among GCC member states, with discussions centred on enhancing the resilience of the regional business environment and reinforcing its position on the global stage.

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Al Marri said the UAE prioritses advancing joint Gulf action, particularly in economic and investment spheres, in line with the country’s development vision. 

He called for intensified efforts to accelerate growth across the Gulf economy and to expand its competitive capabilities, noting the bloc’s potential to further strengthen its regional and international standing.

“The meeting comes at an important time,” he said, adding that it represents an opportunity to develop new policies and legislative frameworks that support economic flexibility, deepen investment and development integration, and promote greater openness to global markets.

He added that the current phase requires continued work towards a more integrated and agile Gulf economic environment, built on updated trade and economic legislation, support for innovation and entrepreneurship, and the acceleration of digital transformation. 

Officials also examined ways to enhance cooperation with major economic blocs, in an effort to strengthen the GCC’s presence in international markets. Discussions touched on the continued development of unified Gulf trade regulations, particularly in areas such as competition policy and e-commerce, which are expected to support digital market integration and facilitate the flow of goods and services.

The committee reviewed member states’ efforts to improve the investment environment, combat commercial fraud and strengthen consumer protection. It also addressed reforms to the intellectual property framework, including the restructuring of the patents committee into a broader intellectual property body and the development of unified strategies to protect regional innovation.

Further updates were provided on the virtual GCC business incubator initiative, aimed at supporting small and medium-sized enterprises and expanding their footprint across the common Gulf market.

The meeting also included preparations for the second ministerial meeting between GCC countries and China, as well as the upcoming edition of the GCC-China economic and trade cooperation forum, both seen as key platforms for advancing bilateral partnerships and broadening investment opportunities.