Gulf leaders keen on economic integration: GCC secretary-general

Members of the Gulf Cooperation Council are making strides toward an economically integrated region, said GCC Secretary-General Jassim Al-Budaiwi.

Speaking at the World Governments Summit 2024 in Dubai, Al-Budaiwi emphasized the collective determination of the GCC states to complete the steps necessary for Gulf economic integration and to foster strategic global and regional relationships.

During a panel discussion, he shed light on the GCC’s adoption of pioneering economic visions that stand out globally, according to a report by the Saudi Press Agency.

He explained that these strategies, characterized by dynamic and smart governance, have enabled the GCC to swiftly and effectively navigate crises and global shifts.

Al-Budaiwi outlined the economic vision’s achievements, which span from immediate goals like economic stability and growth to medium- and long-term objectives such as financial sustainability, economic diversification, and eco-friendly progress.

These visions focus on diversifying income sources away from oil dependency and emphasizing human capital development as a central societal pillar.

The GCC aims to leverage its vast opportunities and resources to bolster economic and societal capacities, encouraging private sector’s engagement as a primary economic catalyst.

Al-Budaiwi concluded by praising the GCC countries’ high-level governance and diligent leadership oversight, which are critical to realizing these ambitious economic targets.