‘Some discrepancies hinder GCC economic integration’

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KUWAIT CITY, Sept 27: Jassem Al-Budaiwi, the Secretary-General of the Gulf Cooperation Council, commended the significant advancements witnessed by the Arab Gulf states in recent years and their substantial influence on the global stage, reports Al-Rai daily.

He noted the approximate 6 percent annual growth rate of the Gulf economy, but highlighted existing discrepancies that impede progress in the journey towards economic integration.

During the 21st Arab Media Forum held in Dubai, Al Budaiwi emphasized that the GCC nations adhere to a clear political approach and well-defined stances, resulting in their esteemed standing at the international level. He stressed the council’s dedication to achieving economic integration among member countries by striving to establish a customs union and activate a shared market. Al Budaiwi underlined that inter-Gulf coordination is at its peak across political, security, and military domains.

However, he emphasized the pressing need for enhanced economic integration, suggesting flexibility and concessions to attain long-term objectives.

Acknowledging differing viewpoints as an obstacle to progress, he remained optimistic about realizing this strategic goal.

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