GCC States Continue Efforts to Enhance Economic Integration: GCC Chief
GCC Secretary-General Jasem Al-Budaiwi emphasized the ongoing efforts by GCC states to strengthen economic integration amid global challenges.
Gulf Cooperation Council (GCC) Secretary-General Jasem Al-Budaiwi has underscored the determination of GCC member states in advancing their efforts towards enhancing economic integration.
This commitment aims to achieve Gulf economic unity and bolster the GCC's position as a leading global economic hub.The statement came during the 70th meeting of the GCC Commercial Cooperation Committee, which took place on April 30 via videoconference.
The meeting was chaired by Bahrain's Minister of Industry and Commerce, Abdullah bin Adel Fakhro, and attended by GCC ministers of commerce.According to Al-Budaiwi, the meeting convened at a critical juncture following recent attacks on GCC states by Iran, necessitating a shift from traditional coordination to higher levels of practical integration and effective responses.
The secretary-general highlighted that the challenges faced in the region are no longer temporary but represent tests of resilience in protecting achievements and maintaining vital sectors efficiently.Al-Budaiwi emphasized that building a robust and sustainable economy is contingent upon cooperation and unified integration among states.
He also noted that GCC countries continue to address global economic challenges with a focus on accelerating development projects.The GCC secretary-general further stated that the member states are actively working towards realizing visions for enhancing cooperation and economic integration, particularly in trade exchange and removing obstacles between them.
In order to achieve economic unity, GCC countries aim to improve the flow of goods and services.Statistics were presented by Al-Budaiwi, indicating that the combined gross domestic product (GDP) of GCC states at current prices reached approximately $2.4 trillion in 2025, securing a position among the top ten globally in terms of GDP size.
The volume of intra-GCC trade has also shown significant growth, exceeding $146 billion in 2024 with an annual growth rate of 9.8 percent, underscoring the expanding scope of Gulf trade exchange.
This commitment aims to achieve Gulf economic unity and bolster the GCC's position as a leading global economic hub.The statement came during the 70th meeting of the GCC Commercial Cooperation Committee, which took place on April 30 via videoconference.
The meeting was chaired by Bahrain's Minister of Industry and Commerce, Abdullah bin Adel Fakhro, and attended by GCC ministers of commerce.According to Al-Budaiwi, the meeting convened at a critical juncture following recent attacks on GCC states by Iran, necessitating a shift from traditional coordination to higher levels of practical integration and effective responses.
The secretary-general highlighted that the challenges faced in the region are no longer temporary but represent tests of resilience in protecting achievements and maintaining vital sectors efficiently.Al-Budaiwi emphasized that building a robust and sustainable economy is contingent upon cooperation and unified integration among states.
He also noted that GCC countries continue to address global economic challenges with a focus on accelerating development projects.The GCC secretary-general further stated that the member states are actively working towards realizing visions for enhancing cooperation and economic integration, particularly in trade exchange and removing obstacles between them.
In order to achieve economic unity, GCC countries aim to improve the flow of goods and services.Statistics were presented by Al-Budaiwi, indicating that the combined gross domestic product (GDP) of GCC states at current prices reached approximately $2.4 trillion in 2025, securing a position among the top ten globally in terms of GDP size.
The volume of intra-GCC trade has also shown significant growth, exceeding $146 billion in 2024 with an annual growth rate of 9.8 percent, underscoring the expanding scope of Gulf trade exchange.
