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The United Arab Emirates reaffirmed its strong commitment to economic integration across the Gulf region during the 123rd Ministerial Meeting of the GCC Financial and Economic Cooperation Committee held today in Kuwait.
Led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, the UAE delegation included top officials from key financial and regulatory bodies, including Khalid Ali Al Bustani, Director-General of the Federal Tax Authority (FTA), and Ali Abdullah Sharafi, Acting Assistant Under-Secretary for International Financial Relations. Officials from the Ministry of Finance, the Federal Tax Authority, and the Federal Authority for Identity and Nationality, Customs and Port Security also joined.
The meeting brought together finance ministers from all six Gulf Cooperation Council (GCC) countries to discuss key priorities shaping the region’s economic future. Central topics included updates from the GCC Central Bank Governors’ Committee, outcomes from the GCC Customs Union Authority, and the latest recommendations from the Tax Departments Committee.
A significant focus of the session was on accelerating progress toward a unified Gulf Common Market and enhancing the effectiveness of the GCC Customs Union. Ministers also reviewed outcomes from a recent joint event hosted by the UAE Ministry of Finance and the GCC General Secretariat at the World Government Summit 2025 in Dubai.
“Strengthening collective Gulf action in financial and economic sectors is a strategic imperative, especially amid global economic headwinds,” said Minister Al Hussaini.
He emphasized the importance of institutional integration across the region and called for closer alignment of financial, tax, and customs policies among GCC nations. Al Hussaini underscored that this alignment is essential to boost economic efficiency, global competitiveness, and investor confidence.
The GCC Statistical Centre presented updated data on regional market trends, further supporting discussions around the 2025 goal of complete economic unity across the Gulf.
In his closing remarks, Al Hussaini stressed that the UAE remains fully committed to initiatives aimed at establishing a unified Gulf economy and a dynamic investment environment. He highlighted the need for enhanced technical cooperation and expertise exchange, which he described as vital to achieving sustainable growth and long-term regional prosperity.
The ministers concluded by sharing insights on financial and economic priorities for the next phase and exploring strategies to enhance the GCC’s global presence amid rising economic challenges and regional transformations.
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