GCC summit calls for greater economic integration among Gulf countries

Source: Arabnews | Published on 10th December 2019, 9:22 PM | Gulf News | Don't Miss |

RIYADH: The GCC summit called for greater regional economic integration as the meeting chaired by King Salman came to a close in Riyadh on Tuesday.

The final statement, read by GCC General Secretary Abdullatif bin Rashid Al-Zayani, called for finalizing legislation for financial and monetary unity by 2025, according to the meeting's final communique.

The statement also called for boosting military and security cooperation to maintain regional security.

The 40th Supreme Council meeting was chaired by King Salman, who met the heads of each delegation as they landed.

They included the UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum, Bahrain's King Hamad bin Isa Al-Khalifa, Oman's Deputy Prime Minister for the Council of Ministers Fahd bin Mahmoud Al-Said and Qatar's Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani.

In his opening remarks, King Salman said the GCC had managed to overcome many crises that the region has faced.

At a preparatory meeting on Monday, Gulf foreign ministers approved the nomination of former Kuwaiti Finance Minister Nayef Al-Hajraf as the next secretary-general of the GCC.

His term will begin in April 2020 following the end of Al-Zayani’s term.

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