emirates7 - The Ministry of Finance (MoF) organised the second high-level dialogue with senior executives from UAE companies operating in Gulf Cooperation Council (GCC) countries, under the theme "Enhancing Gulf economic integration within the framework of the Enhancing Gulf Economic Integration within the Framework of the GCC Common Market: Opportunities and Challenges Facing UAE Companies Operating in GCC Countries".
The event forms part of MoF’s efforts to strengthen partnerships with the private sector and support economic integration across the GCC.
Building on the first dialogue held in September 2024, the roundtable aimed to reinforce communication with private sector representatives and engage directly with their views on opportunities and challenges in Gulf markets.
The dialogue was attended by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, Khalid Al Sunaydi, Assistant Secretary-General for Economic and Development Affairs at the GCC Secretariat, Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), and Koralai Kirabaeva, Senior Economist at the International Monetary Fund, alongside officials from government entities, directors of chambers of commerce and representatives of Emirati companies operating across the GCC.
In his opening remarks, AlKhoori said the dialogue reflects the Ministry of Finance’s commitment to strengthening collaboration with the private sector as a key partner in development and competitiveness across Gulf markets. He noted that the platform enables the exchange of perspectives and the proposal of practical initiatives to support joint Gulf efforts and accelerate implementation of the GCC Common Market.
He said such dialogue supports balanced alignment between regulatory frameworks and the evolving needs of the private sector, adding that the Ministry will continue developing tools for Gulf economic cooperation in line with the directives of the UAE leadership. He stressed the importance of public-private partnerships in supporting transparency and informed decision-making.
He said, “At the Ministry of Finance, we are committed to engaging with national companies operating across GCC markets, understanding the challenges they face, and exploring effective solutions to support their growth and expansion through a dynamic and competitive economic environment.”
Ahmed Jasim Al Zaabi said the dialogue reflects the strategic partnership between the Ministry of Finance and the FCCI to empower the private sector and strengthen its role in supporting and integrating the GCC Common Market. He said discussions focused on regulations and policies supporting economic, commercial and investment activity, and on ways to further develop these frameworks to enhance business flow and ensure equal opportunities for Emirati companies.
The dialogue aimed to strengthen Gulf economic integration, address practical challenges facing Emirati companies, review regulatory frameworks and propose actionable solutions to support decision-makers and improve the Gulf economic environment.
The programme included presentations by the Ministry of Finance on outcomes of the first dialogue, the GCC General Secretariat on supporting regulations and policies, and the International Monetary Fund on the role of the private sector in advancing the GCC Common Market. Participating companies also shared proposals to enhance cooperation, joint investment and market integration.
Participants highlighted public-private partnerships as a cornerstone for deeper GCC integration and reaffirmed the UAE’s commitment to contributing actively to the development of the GCC Common Market.
GCC countries have made notable progress in integration, with more than 41.4 million GCC nationals travelling across member states, an increase of 188.5 percent since 2007. Commercial licences issued to GCC nationals reached 96,300, up 558.8 percent, while property ownership by GCC nationals in other member states exceeded 17,900 cases, a rise of 162.1 percent.
The number of public joint-stock companies whose shares can be traded by GCC nationals reached 748, while higher education enrolment by GCC students grew by more than 364 percent. The region is home to 25 major ports, and the GCC commercial fleet accounts for 54.2 percent of the Arab maritime fleet.
With a combined GDP exceeding US$2.1 trillion, merchandise trade of US$1.5 trillion and sovereign wealth fund assets of US$4.4 trillion, the GCC continues to advance steadily towards deeper economic integration and sustainable growth.
The event forms part of MoF’s efforts to strengthen partnerships with the private sector and support economic integration across the GCC.
Building on the first dialogue held in September 2024, the roundtable aimed to reinforce communication with private sector representatives and engage directly with their views on opportunities and challenges in Gulf markets.
The dialogue was attended by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, Khalid Al Sunaydi, Assistant Secretary-General for Economic and Development Affairs at the GCC Secretariat, Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), and Koralai Kirabaeva, Senior Economist at the International Monetary Fund, alongside officials from government entities, directors of chambers of commerce and representatives of Emirati companies operating across the GCC.
In his opening remarks, AlKhoori said the dialogue reflects the Ministry of Finance’s commitment to strengthening collaboration with the private sector as a key partner in development and competitiveness across Gulf markets. He noted that the platform enables the exchange of perspectives and the proposal of practical initiatives to support joint Gulf efforts and accelerate implementation of the GCC Common Market.
He said such dialogue supports balanced alignment between regulatory frameworks and the evolving needs of the private sector, adding that the Ministry will continue developing tools for Gulf economic cooperation in line with the directives of the UAE leadership. He stressed the importance of public-private partnerships in supporting transparency and informed decision-making.
He said, “At the Ministry of Finance, we are committed to engaging with national companies operating across GCC markets, understanding the challenges they face, and exploring effective solutions to support their growth and expansion through a dynamic and competitive economic environment.”
Ahmed Jasim Al Zaabi said the dialogue reflects the strategic partnership between the Ministry of Finance and the FCCI to empower the private sector and strengthen its role in supporting and integrating the GCC Common Market. He said discussions focused on regulations and policies supporting economic, commercial and investment activity, and on ways to further develop these frameworks to enhance business flow and ensure equal opportunities for Emirati companies.
The dialogue aimed to strengthen Gulf economic integration, address practical challenges facing Emirati companies, review regulatory frameworks and propose actionable solutions to support decision-makers and improve the Gulf economic environment.
The programme included presentations by the Ministry of Finance on outcomes of the first dialogue, the GCC General Secretariat on supporting regulations and policies, and the International Monetary Fund on the role of the private sector in advancing the GCC Common Market. Participating companies also shared proposals to enhance cooperation, joint investment and market integration.
Participants highlighted public-private partnerships as a cornerstone for deeper GCC integration and reaffirmed the UAE’s commitment to contributing actively to the development of the GCC Common Market.
GCC countries have made notable progress in integration, with more than 41.4 million GCC nationals travelling across member states, an increase of 188.5 percent since 2007. Commercial licences issued to GCC nationals reached 96,300, up 558.8 percent, while property ownership by GCC nationals in other member states exceeded 17,900 cases, a rise of 162.1 percent.
The number of public joint-stock companies whose shares can be traded by GCC nationals reached 748, while higher education enrolment by GCC students grew by more than 364 percent. The region is home to 25 major ports, and the GCC commercial fleet accounts for 54.2 percent of the Arab maritime fleet.
With a combined GDP exceeding US$2.1 trillion, merchandise trade of US$1.5 trillion and sovereign wealth fund assets of US$4.4 trillion, the GCC continues to advance steadily towards deeper economic integration and sustainable growth.
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