emirates7 - The Ministry of Finance (MoF) recently held a prominent briefing at the Ministry of Foreign Affairs' headquarters in Abu Dhabi to discuss the financial and economic integration within the Gulf region, emphasizing the UAE’s crucial role in supporting the Gulf's collective action framework.
The event aimed to increase understanding of the benefits of regional economic integration, highlighting its positive impact on individuals, businesses, and institutions. It also underscored the UAE's strategic role in bolstering joint Gulf economic efforts, collaborating with key partners to shape future initiatives and reinforce integration across the region.
Attendees included senior officials such as Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations; and Ibrahim Hassan Al Jarwan, Director of the GCC Affairs Department at the Ministry of Finance. Representatives from the Ministry of Foreign Affairs included Omar Obaid Al Hassan Al Shamsi, Undersecretary; Abdullah Mohammad Abdul Rahman Al Bulooki, Assistant Undersecretary for Support Services Affairs; Saif Abdulla Alshamisi, Assistant Undersecretary for Protocol Affairs; Ahmed Ali Al Balooshi, Director of the GCC Affairs Department; Abdulaziz Al Habsi, Director of the Office of the Undersecretary; and Rashed Al Teneiji, Deputy Director of the Economic and Trade Affairs Department, alongside staff from both ministries.
The gathering took place as GCC nations work to strengthen their collective market efforts. The discussions focused on topics such as the structure of joint Gulf economic actions, the progress of the Customs Union, the GCC common market, and the Ministry of Finance’s role in overseeing the implementation of Gulf agreements to foster financial and economic integration.
The session also included preparations for the UAE's upcoming presidency of the GCC in 2026 and plans to launch initiatives to boost financial and economic cooperation among the member states.
Younis Haji AlKhoori emphasized that Gulf financial and economic integration is a strategic priority reflecting the unified vision and interests of the GCC countries. He reaffirmed the UAE’s commitment to transforming this vision into actionable initiatives that strengthen the Gulf Common Market, improve capital mobility, optimize tax systems, and simplify business operations across the member states.
AlKhoori added that the Ministry of Finance plays an essential role in ensuring the successful implementation of GCC resolutions and fostering both bilateral and multilateral cooperation frameworks, especially in preparation for the UAE's presidency in 2026. He also noted that continued collaboration with Gulf partners would drive forward-looking initiatives aimed at enhancing financial stability and supporting economic growth throughout the region.
This briefing is part of a broader strategy by the Ministry of Finance to raise economic awareness, foster institutional collaboration, and emphasize the UAE’s vital role in Gulf economic affairs, particularly regarding the implementation of the GCC Unified Economic Agreement, which focuses on deepening financial and economic integration across the region.
The event aimed to increase understanding of the benefits of regional economic integration, highlighting its positive impact on individuals, businesses, and institutions. It also underscored the UAE's strategic role in bolstering joint Gulf economic efforts, collaborating with key partners to shape future initiatives and reinforce integration across the region.
Attendees included senior officials such as Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations; and Ibrahim Hassan Al Jarwan, Director of the GCC Affairs Department at the Ministry of Finance. Representatives from the Ministry of Foreign Affairs included Omar Obaid Al Hassan Al Shamsi, Undersecretary; Abdullah Mohammad Abdul Rahman Al Bulooki, Assistant Undersecretary for Support Services Affairs; Saif Abdulla Alshamisi, Assistant Undersecretary for Protocol Affairs; Ahmed Ali Al Balooshi, Director of the GCC Affairs Department; Abdulaziz Al Habsi, Director of the Office of the Undersecretary; and Rashed Al Teneiji, Deputy Director of the Economic and Trade Affairs Department, alongside staff from both ministries.
The gathering took place as GCC nations work to strengthen their collective market efforts. The discussions focused on topics such as the structure of joint Gulf economic actions, the progress of the Customs Union, the GCC common market, and the Ministry of Finance’s role in overseeing the implementation of Gulf agreements to foster financial and economic integration.
The session also included preparations for the UAE's upcoming presidency of the GCC in 2026 and plans to launch initiatives to boost financial and economic cooperation among the member states.
Younis Haji AlKhoori emphasized that Gulf financial and economic integration is a strategic priority reflecting the unified vision and interests of the GCC countries. He reaffirmed the UAE’s commitment to transforming this vision into actionable initiatives that strengthen the Gulf Common Market, improve capital mobility, optimize tax systems, and simplify business operations across the member states.
AlKhoori added that the Ministry of Finance plays an essential role in ensuring the successful implementation of GCC resolutions and fostering both bilateral and multilateral cooperation frameworks, especially in preparation for the UAE's presidency in 2026. He also noted that continued collaboration with Gulf partners would drive forward-looking initiatives aimed at enhancing financial stability and supporting economic growth throughout the region.
This briefing is part of a broader strategy by the Ministry of Finance to raise economic awareness, foster institutional collaboration, and emphasize the UAE’s vital role in Gulf economic affairs, particularly regarding the implementation of the GCC Unified Economic Agreement, which focuses on deepening financial and economic integration across the region.