Monday 08 August 2022 - 11:59:08 pm

Obaid Al Tayer chairs 112th meeting of GCC Financial and Economic Cooperation Committee

RIYADH, 25th October, 2020 (WAM) -- Obaid Humaid Al Tayer, Minister of State for Financial Affairs, chaired the 112th meeting of the Gulf Cooperation Council, GCC, Financial and Economic Cooperation Committee, which was attended by GCC ministers of finance and Dr. Nayef Falah M. Al Hajraf, Secretary-General of the GCC.

During the meeting, which was held remotely today, the committee discussed several issues related to the financial and economic cooperation between member countries of the GCC, which is currently headed by Saudi Arabia.

The committee also reviewed recommendations submitted by the GCC Committee of Governors of Monetary Institutions and Central Banks, the GCC Customs Union and the GCC Common Market Committee.

The meeting then addressed the mechanisms of approval and implementation of economic decisions related to joint GCC actions, as well as the procedures for approving funding used by GCC financial and economic cooperation ministerial committees. Participants also reviewed the vision of the GCC Secretariat-General for strengthening GCC joint action in the financial and economic sectors for the post-COVID19 period. The ministers were additionally briefed on the progress of the GCC Economic Unity Achievement Programme.

WAM/Hassan Bashir